Second Session of the 16th National Assembly: Proposal to Impose a 0.2% Tax on Abandoned Land.
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The draft Law on Non-Agricultural Land Use Tax proposes a tax rate of 0.2% on abandoned land, land not put into use, or land that is slow to be put into use, in order to encourage economical and efficient land exploitation. The National Assembly discussed many important draft laws in its session on October 23rd. Draft Law on Real Estate Business amendments: Adding mechanisms to protect buyers. National Assembly meeting: Amended Land Law tightens…
The government proposes adding a regulation that would subject abandoned, unused, or slow-to-use land to a tax rate of 0.2% and without any quota limit.
(Dan Tri Newspaper) - Land left fallow, unused, or delayed in use will be subject to a tax rate of 0.2%, according to a proposal from the Government. This regulation aims to institutionalize the spirit of Resolution 21 of the Central Committee.
The draft Law on Non-Agricultural Land Use Tax proposes a tax rate of 0.2% on abandoned land. However, experts argue that this rate is too low and unlikely to prevent land hoarding in anticipation of price increases.
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