Legal Counselling

Vietnam: Time of payment of land use levy and land rental in economic zones and hi-tech zones

Lê Hải

14:29, 06/07/2017

Land use levy and land rental shall be paid in Vietnam dong to the state budget; if foreign organizations and individuals or overseas Vietnamese pay land use levy or land rental in a foreign currency, such currency shall be converted into Vietnam dong in accordance with regulations effective at the time of payment.

According to Decree No. 35/2017/ND-CP of Vietnam’s Government, the time of payment of land use levy and land rental is specified as follows:

1. For cases of land lease with annual rental payment, rental shall be paid twice a year:

- First time: At least 50% before May 31;

- Second time: The remainder shall be paid before October 31 every year.

For cases in which the time for determining land rental and water surface rental payable for the first year falls between October 31 through December 31 of the year, the management board of the economic zone shall notify the land rental to be paid for the remaining period of the year and the time limit for such payment is within 30 days from the date of signing of the notice.

2. For cases of land allocation with land use levy and land lease with one-off payment of land rental for the entire lease period:

- Within 30 days from the date of signing of the notice by the management board of the economic zone, the land user shall pay 50% of the notified land use levy or land rental.

- Within 60 subsequent days, the land user shall pay the remaining 50% of the notified land use levy or land rental.

Past the time limits specified above, a land user that fails to fully pay the notified amount shall pay a late-payment interest on the unpaid amount in accordance with the law on tax administration.

Decree No. 35/2017/ND-CP of Vietnam’s Government takes effect from June 20, 2017.

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