Vietnam: Guidelines for the procedure for formulation of land price bracket

According to Vietnam’s regulations, the formulation of land price bracket must be based on land pricing rules prescribed in Article 112 of the Land Law, methods of land pricing prescribed in Clauses 1, 2, 3, 4 Article 4 of Decree No. 44/2014/NĐ-CP; the result of analyzed and synthesized information about the market price of land, the natural, economic, and social factors, management and use of land affecting the land price.

The procedure for formulation of the land price bracket is specified in Article 8 of Decree No. 44/2014/NĐ-CP of Vietnam’s Government as follows:

- Defining the types of land, economic regions and class urban areas;

- Investigating, synthesizing and analyzing the information about the market price of land, the natural, social, and economic factors, management and use of land affecting the land price;

- Analyzing, evaluating the result of implementation of the current land price bracket;

- Formulating the land price bracket and making a written request for the promulgation of the land price bracket;

- Conducting a survey on the draft land price bracket;

- Verifying the draft land price bracket;

- Completing the land price bracket and submitting it to the government for promulgation.

Besides, the application for the promulgation of the land price bracket includes:

- A written request for the promulgation of the land price bracket;

- The draft land price bracket;

- A description of the land price bracket formulation;

- A record on verification of the land price bracket

The Ministry of Natural Resources and Environment shall formulate the land price bracket and request the Government to promulgate it every 5 years. The Ministry of Finance shall verify the land price bracket.

View more details at Decree No. 44/2014/NĐ-CP of Vietnam’s Government, effective from July 01, 2014.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE