Vietnam: Time limit for annual payment of land rents and water surface rents

14:50, 24/10/2020

On October 19, 2020, the Government of Vietnam issued the Decree No. 126/2020/NĐ-CP on elaboration of the Law on Tax Administration.

Thời hạn nộp tiền thuê đất, thuê mặt nước hàng năm, Nghị định 126/2020/NĐ-CP

According to Clause 3 Article 18 of the Decree No. 126/2020/NĐ-CP of Vietnam’s Government, land rents and water surface rents in case rent is paid annually are as follows:

- The first rent payment shall be made within 30 days from the day on which the rent notice is issued by the tax authority.

- From the second year, the tenant may choose between paying rents annually or biannually. If the tenant chooses the former, rent shall be paid by May 31. If the tenant chooses the latter, the first 50% shall be paid by May 31 and the rest by October 31. In case of a new tenant where the rent is determined after October 31, the tax authority shall issue a rent notice for the remaining time of the year.

- In case the declaration is revised, the rent shall be paid within 30 days from the day on which the rent notice is issued.

- In case the rent notice is issued by the tax authority according to documents of another competent authority granting extension of land use period due to delay in land use time of the project or changes to the elements that affect the rent:

+ Within 30 days from the issuance date of the rent notice, the tenant shall pay 50% of the rent specified in the notice;

+ Within 90 days from the issuance date of the rent notice, the tenant shall pay the remaining 50%.

View more details at the Decree No. 126/2020/NĐ-CP of Vietnam’s Government, effective from December 05, 2020.

Ty Na

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

87 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn