Quang Nam exempts land rent for up to 50 years for investment incentive projects

According to this resolution, Quang Nam will exempt land rent for the entire land lease period for project implementation, up to 50 years. This applies to projects using land for production and business purposes in investment incentive sectors or in investment incentive areas as prescribed in Point a, Clause 1, Article 157 of the Land Law, which meet one of two conditions: being on the list of types, scale criteria, and socialization standards decided by the Prime Minister or non-profit projects as prescribed by law.

In addition, land tax exemption will be applied on the condition that the project ensures compliance with legal regulations on planning, investment, land, bidding and other relevant legal regulations; the project must ensure implementation on schedule, objectives, and investment scale according to the approval and certification documents of competent authorities; and be implemented for the right purpose and effectively.

BEMAC 6 — People's Council delegates passed the resolution. Photo: HQ

Notably, in each project, land rent is only exempted for the land area used for the right socialized, non-profit purpose. The land area used for the wrong purpose is not exempted from land rent. At the same time, land rent exemption is not applied to the case of commercial and service land use; land leased by the State through land use rights auction. Land users are not allowed to calculate the exempted land rent into the cost of products and services provided to society.

The Provincial People's Council has assigned the Provincial People's Committee to base on the Central Government's guiding documents to determine the purpose of land use projects, thereby serving as a basis for implementing the preferential regime of land rent exemption in accordance with regulations. At the same time, guide and notify the list of investment incentive sectors, investment incentive areas and related regulations and procedures in accordance with legal regulations to facilitate the implementation process.

Strengthen management and land use for socialized projects and non-profit projects to ensure savings and efficiency; regularly inspect, monitor, and promptly handle investors who implement projects that do not comply with commitments according to the content approved and agreed upon by competent authorities.

In case of detecting that the project does not meet the conditions for enjoying preferential land rent exemption according to regulations, promptly handle or report to competent authorities for handling, canceling incentives, and collecting financial obligations according to regulations of law.

Source: https://baoquangnam.vn/quang-nam-mien-tien-thue-dat-toi-da-50-nam-doi-voi-du-an-uu-dai-dau-tu-3145430.html