Expense level to reduce greenhouse gas emissions in the North Central region of Vietnam

Duong Chau Thanh

08:30, 30/12/2022

Below is the content specified in Decree 107/2022/ND-CP dated December 28, 2022 on piloting the transfer of emission reduction results (carbon credits) and financial management of GHG emission reduction payment agreements in the North Central region of Vietnam.

According to Vietnam's Decree 107/2022/ND-CP, the expense level to reduce greenhouse gas emissions in the North Central region of Vietnam are as follows:

- For contracted forest protection, the minimum contract level is equal to the state budget support level for forest protection contracts, but no more than twice the state budget support level for contracted forest protection according to the contracted subjects in the same province.

The specific level shall be determined by the Provincial People's Committee;

- The support norm for livelihood development activities is VND 50,000,000 per residential community per year.

- For other expenditures: spending norms shall comply with current law provisions and be prescribed by competent authorities in Vietnam.

In addition, the tax obligations arising from the transfer of emission results as prescribed in Vietnam's Decree 107/2022/ND-CP shall comply with relevant tax laws.

Vietnam's Decree 107/2022/ND-CP takes effect from the date of signing and promulgation.

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