Vietnam: Guidelines for determining annual land rents in Hoa Lac Hi-Tech Park

According to Circular No. 32/2018/TT-BTC of the Ministry of Finance of Vietnam, the determination of the annual land rents shall be carried out under the provisions of Article 8 of Decree No. 74/2017/ND-CP and elaborated as follows:

- The land rent paid annually = the land rent per m² x the land area subject to land rent.

- In cases where the land rent is exempted or there are deductions from total land rent payable, the land rent payable shall be determined according to the land policy and price effective at the time of starting payment of land rent.

- In case of lease of land with annual rent payment but the first leasing year or the final leasing year is not enough 12 months, the land rent shall be calculated and paid according to the actual number of leasing months. The first leasing month or the final leasing month shall be considered as a full leasing month if total leasing days in that month are 15 days or more. The land rent must not be paid if total leasing days in that month are less than 15 days.

- The land rent per m² shall be kept unchanged for 05 years counting from the time the HHTP Management Board issues the land lease decision. Over this period, the HHTP Management Board may adjust the land rent per m² applicable for the following period according to the land policy and price effective at the time of adjustment.

View more details at Circular No. 32/2018/TT-BTC of the Ministry of Finance of Vietnam, effective from May 15, 2018.

- Thanh Lam -

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