Policies on management and use of financial resources obtained from land and other resources in Vietnam

Vietnam Law has regulations on policies on management and use of financial resources obtained from land and other resources. Let’s find out this issue with Lawyer X through the following situation: “Dear Lawyer! I want to ask what are regulations on management and use of financial resources obtained from the land in Vietnam? What are regulations on use of financial resources obtained from land? Thanks for answering me!”

Legal grounds

• 2017 Vietnam Law on Management and Use of Public Property

Management and use of financial resources obtained from the land

– The land shall be prepared statistics, inventoried, recorded and monitored according to regulations of law.

– Authorities and organizations whose land is distributed or leased out by the State shall aggregate the value of land use rights. Where the State distributes the land without collection of land levy or leases out the land that the land rental is exempted, the value of land use rights shall be aggregated with the property value of such authorities and organizations according to the Government’s regulations.

– Use of financial resources obtained from the land shall be carried out properly according to the planning and plans for using the land and the market mechanism. Management and use of the proceeds earned from the use of financial resources obtained from the land shall comply with regulations of law on state budget, law on land, law on fees and charges and relevant law.

Use of financial resources obtained from land

– Collection of land levy.

– Collection of land rental and water surface rental.

– Collection of taxes, fees and charges related to the land.

– Use of value of land use rights to make payments to investors when executing construction projects in the form of build-transfer contracts.

– Use of vacant land to generate capital for infrastructure development.

– Use of other financial resources obtained from land.

Collection of land levy, land rental and water surface rental

Collection of land levy, land rental and water surface rental shall comply with regulations of law on land and relevant law.

Collection of taxes, fees and charges related to the land

Collection of land levy, income tax from the transfer of land use rights, fees, land registration fees and other taxes, fees and charges related to the land shall conform to regulations of law on taxes and law on fees and charges.

Use of the value of land use rights to make payments to investors when executing construction projects in the form of build-transfer contracts

Use of the value of land use rights to make payments to investors when executing construction projects in the form of build-transfer contracts shall comply with provisions of Clauses 1, 2, 3, 4 and 5 Article 44 herein and the following provisions:

– The vacant land to make payments to investors shall be in line with the planning and plans for using the land approved by a competent state authority and imposed in the form of distribution of the land with collection of land levy or lease of land with lump-sum land rental for the whole land lease term. Relevant parties and procedures for distribution and lease of the land shall comply with regulations of law on land;

– The value of land use rights used to make payments for construction projects executed in the form of build-transfer contracts shall be determined according to the market price from the day on which the payment is made as prescribed in regulations on collection of land levy and land rental.

Operation of vacant land to generate capital for infrastructure development

– Operation of a vacant land to generate capital for infrastructure development means the act the State when it applies the land withdrawal mechanism in the vicinity of land serving construction projects on infrastructure works according to the provisions of law on land in order to create a vacant land to generate capital for infrastructure development.

– Operation of the vacant land to generate capital for infrastructure development shall be made into a project. Power to approve projects on operation of the vacant land to generate capital for infrastructure development (hereinafter referred to as “projects”) shall be granted as follows:

+ The Prime Minister shall approve projects under central management;

+ People’s Committees of provinces shall approve projects under management of provinces.

– Operation of the vacant land to generate capital for infrastructure development shall apply to the form of land distribution with collection of land levy or lease of land with lump-sum payment for the whole land lease term in accordance with regulations of law on land.

– The remaining amount of proceeds earned from operation of the vacant land after deducting relevant costs shall be transferred to the state budget after deducting relevant costs and allocated to plans for public investment and funding provided by the State to execute investment projects approved by competent authorities specified in Clause 2 this Article according to regulations of law on public investment, law on state budget and relevant law.

– The Government shall specify this Article in detail.

Management and use of financial resources obtained from resources

– State authorities shall manage, prepare statistics, compile inventories, record and monitor resources in accordance with regulations of 2017 Vietnam Law on Management and Use of Public Property and relevant law.

– Financial resources obtained from resources shall be used properly according to the planning, plans and the market mechanism.

Collection of charges for granting the right to use resources, collection of resource levy and resource rental

– Collection of charges for granting the right to use resources, collection of resource levy and resource rental shall conform to regulations of law on resources.

– Amounts and methods of collecting charges for granting the right to use resources, collecting resource levy and resource rental shall conform to regulations of the Government.

Collection of resource taxes, fees and charges for management, use and use of resources

Collection of resource taxes, overflight fees within airspace of Vietnam, fees for protection of aquatic resources, fees for visiting scenic beauties, charges for use of water sources, charges for use of documents and data on resources and other taxes, fees and charges related to resources shall comply with regulations of law on taxes and law on fees and charges.

Please see more:

• Instructions for exclusive registration of company logos in Vietnam
• Service of changing the legal representative of Vietnamese enterprises

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