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Gov’t continues to cut land rentals for pandemic-hit entities

VGP - The Government sets goal to reduce land and water surface rents worth around VND 3.5 trillion (over US$ 50 million) for COVID-19 pandemic-hit enterprises in 2022.

Posts Hoang Ha

September 23, 2022 7:37 PM GMT+7
Gov’t continues to cut land rentals for pandemic-hit entities  - Ảnh 1.

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This is part of the Government's Resolution 125/NQ-CP, dated September 22, 2022 on reduction of land and water surface rentals for COVID-19 pandemic-hit enterprises. 

This is the third consecutive year the Government has cut land and water surface rentals for COVID-19 pandemic-hit enterprises in a bid to revitalize the economy. 

Earlier, the Government issued Resolution 11/NQ-CP (Resolution 11), dated January 30, 2022 on socio-economic recovery measures. 

Resolution 11 stipulates 30 percent reduction of land rentals for tenants that meet both of the following conditions: (1) The tenants lease land directly from the State under a decision, or contract, or certificate of land use right and make annual land rental payments; (2) The tenants suffer business suspension due to COVID-19.

The Ministry of Finance reported that last year, over VND 3.4 trillion of land rental fees were cut under the Prime Minister Decision 27/2021/QD-TTg.