On behalf of the National Assembly Standing Committee, Politburo member and National Assembly Chairman Tran Thanh Man signed and issued Resolution No. 1567/NQ-UBTVQH15 of the National Assembly Standing Committee on promulgating a Government Decree regulating land rental reduction in 2024.
Accordingly, the National Assembly Standing Committee agreed with the Government's promulgation of a Decree regulating the reduction of land rent in 2024 for subjects as in the Government's Submission No. 122/TTr-CP dated February 25, 2025.
The Resolution clearly states: The Government urgently issues a Decree regulating the reduction of land rent in 2024 to ensure timeliness; directs the handling of difficulties and problems in collecting, paying, and refunding land rent or late payment of land rent in 2024 (if any); is responsible for the proposed content, accuracy of information, reported data, and the necessity of developing and promulgating a Decree of the Government regulating the reduction of land rent in 2024 in accordance with the provisions of law.
This Resolution takes effect from the date of signing (March 21, 2025).
The Ethnic Council, the National Assembly Committees, the National Assembly Delegations, National Assembly Delegations and the State Audit, within the scope of their tasks, powers and responsibilities, shall supervise and audit the implementation of this Resolution.
At the 43rd session of the National Assembly Standing Committee, Deputy Minister of Finance Bui Van Khang presented a report on seeking opinions on reducing land rent in 2024 and issued a Government Decree regulating the reduction of land rent in 2024.
Assessing the impact on state budget revenue from the reduction in land rent in 2024, Mr. Khang said that the expected land rent reduction according to the draft Decree is about 4,000 billion VND (equivalent to the expected land rent reduction in 2023 with a 30% reduction nationwide) corresponding to 0.26% of total state budget revenue per year and 9% of state budget revenue from land rent for year (calculated according to 2023 data).
Mr. Khang cited the above information at the Conference summarizing tax work in 2024 and deploying tax work tasks in 2025 on December 19, 2024, the General Department of Taxation reported: "The total state budget revenue in 2024 managed by tax authorities is estimated at VND 1,732,000 billion, equal to 116.5% of the estimate (exceeding VND 245,587 billion), equal to 113.7% compared to 2023".
"Therefore, the 2024 budget revenue estimate has been met and exceeded. Therefore, the reduction in land rent under this policy does not significantly affect the general state budget revenue but will have a great impact on the recovery and development of production and business of organizations, individuals, households, and enterprises; thereby increasing budget revenue from taxes (individual income tax, corporate income tax, etc.) to compensate for the reduction in revenue due to reduced land rent," said Mr. Khang.
