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WEEKLY LEGAL NEWSLETTER FINANCIAL STATEMENTS

𝐑𝐄𝐒𝐎𝐋𝐔𝐓𝐈𝐎𝐍 𝟏𝟖-𝐍𝐐/𝐓𝐖: 𝐀𝐁𝐎𝐋𝐈𝐒𝐇 𝐓𝐇𝐄 𝐋𝐀𝐍𝐃 𝐏𝐑𝐈𝐂𝐄 𝐅𝐑𝐀𝐌𝐄𝐖𝐎𝐑𝐊, 𝐈𝐌𝐏𝐎𝐒𝐄 𝐇𝐈𝐆𝐇𝐄𝐑 𝐓𝐀𝐗𝐄𝐒 𝐎𝐍 𝐏𝐄𝐎𝐏𝐋𝐄 𝐖𝐈𝐓𝐇 𝐌𝐔𝐋𝐓𝐈𝐏𝐋𝐄 𝐋𝐀𝐍𝐃𝐒 𝐀𝐍𝐃/𝐎𝐑 𝐇𝐎𝐔𝐒𝐄𝐒

On 16 June 2022, the Central Executive Committee issued the Resolution No. 18-NQ/TW (NQ 18) of the Fifth Plenum of the 13th CPV Central Committee on “Ongoing innovation and improvement in regulatory institutions, policies; enhancement of efficiency and effectiveness in management and use of land, serving as the driving force in developing our country into a high-income economy.”

Accordingly, NQ 18 has introduced a series of new orientations in land management and use. The goal set out in NQ 18 is to complete the amendment of the 2013 Land Law and a number of related laws by 2023, ensuring uniformity and consistency; Completing the construction of a digital database and national information system on land in a centralized, unified, synchronous, multi-purpose and interconnected manner… By 2030, synchronously complete the land legal system…

In which, we would like to summarize some remarkable orientations as follows:

𝟏. 𝐋𝐚𝐧𝐝 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧, 𝐥𝐚𝐧𝐝 𝐥𝐞𝐚𝐬𝐞 𝐦𝐚𝐢𝐧𝐥𝐲 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐚𝐮𝐜𝐭𝐢𝐨𝐧 𝐨𝐟 𝐥𝐚𝐧𝐝 𝐮𝐬𝐞 𝐫𝐢𝐠𝐡𝐭𝐬, 𝐛𝐢𝐝𝐝𝐢𝐧𝐠 𝐟𝐨𝐫 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐮𝐬𝐢𝐧𝐠 𝐥𝐚𝐧𝐝.

𝟐. 𝐈𝐦𝐩𝐫𝐨𝐯𝐞 𝐭𝐡𝐞 𝐥𝐚𝐧𝐝 𝐩𝐫𝐢𝐜𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐦𝐞𝐜𝐡𝐚𝐧𝐢𝐬𝐦: 𝐚𝐛𝐨𝐥𝐢𝐬𝐡 𝐭𝐡𝐞 𝐥𝐚𝐧𝐝 𝐩𝐫𝐢𝐜𝐞 𝐟𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤

In order to complete the land price determination mechanism, the Central Resolution stated: Abolish the land price framework, apply a mechanism and method for determining land prices under market principles, and regulate the functions, tasks and responsibilities of the competent agency in charge of land pricing.

(Currently, the land price framework is prescribed in Decree No. 96/2019/ND-CP, which is the basis for localities to issue land price lists for the period 2020-2024).

The Central Government shall develop criteria and procedures for inspecting and supervising formulation of land price lists at localities. Provincial-level People's Councils shall decide, inspect and supervise the implementation of land prices. At the same time, adopt an effective mechanism to improve the efficiency in land pricing; ensure the independence of the land price appraisal council, the competence and qualification of the land pricing consultancy organization, the expertise and ethics of appraisers.

Supplement and complete regulations to ensure publicity and transparency such as: Publicizing land prices, require transactions to be performed via exchanges; require payments to be made via bank transfer or non-cash payments; strictly sanction violations, etc.

𝟑. 𝐈𝐦𝐩𝐨𝐬𝐞 𝐡𝐢𝐠𝐡𝐞𝐫 𝐭𝐚𝐱𝐞𝐬 𝐨𝐧 𝐩𝐞𝐨𝐩𝐥𝐞 𝐰𝐢𝐭𝐡 𝐦𝐮𝐥𝐭𝐢𝐩𝐥𝐞 𝐥𝐚𝐧𝐝𝐬 𝐚𝐧𝐝/𝐨𝐫 𝐡𝐨𝐮𝐬𝐞𝐬

In NQ 18, the Central Government also proposed a number of solutions to improve the financial mechanism and policy on land.

Accordingly, financial policies applied to land must achieve harmony between the interests of the State, land users and investors; adopt a reasonable and effective regulation mechanism for revenue from land use levy and land rent between the central and local government; research and develop policies to control land rent disparities, ensuring public access and transparency.

Impose regulations on higher tax rates for users of the large amount of land, the great number of houses, land speculation, deferred land use, and abandoned land.

Adopt tax incentives, incentives for land use levy and land rent according to the fields and geographical areas eligible for investment incentives; for poor households, ethnic minorities, and families of people rendering meritorious services to the revolution; for localities where production planning schemes take effect in order to ensure national food security, protect all kinds of forests, especially protection forests and special-use forests and so on.

𝟒. 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐥𝐚𝐧𝐝 𝐮𝐬𝐞 𝐫𝐢𝐠𝐡𝐭𝐬

Set up a real estate market and land information system; adopt incentive policies for development of the land use right market, especially the agricultural land rental market. Complete regulatory framework for and promote non-cash payments in real estate transactions.

𝟓. 𝐀𝐜𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐞 𝐚𝐝𝐦𝐢𝐧𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐯𝐞 𝐫𝐞𝐟𝐨𝐫𝐦, 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐞𝐧𝐡𝐚𝐧𝐜𝐞 𝐒𝐭𝐚𝐭𝐞 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐜𝐚𝐩𝐚𝐜𝐢𝐭𝐲 𝐨𝐟 𝐥𝐚𝐧𝐝

Promote digital transformation in the field of land management and use; distribute reasonable resources to build and complete the national land information system and database on schedule; ensure centralized and unified management, operation, connection and sharing of information from the central to local level.

Date Submitted: 20/07/2022 View: 6.165 Print the article
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