Realty investors allowed to delay land-use fee payments
15-05-2014
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| A half-completed property project in HCMC. The Ministry of Finance has released a circular allowing real estate investors to delay land use fee payments if their projects had incurred losses as of the end of 2013 - Photo: Manh Tung |
The ministry’s Circular 48/2014/TT-BTC provides guidelines for the delay in land use fee payments as stipulated in the Government’s Resolution 01/ND-CP. The beneficiaries are those whose land-use fee payments have not been extended in accordance with the Government’s resolutions 13/NQ-CP and 02/NQ-CP issued in May 2012 and January last year respectively.
The property developers meeting the requirements can be subject to the land use fee payment extension for a maximum of 24 months from the original payment date announced by tax authorities or relevant agencies. Enterprises will not have to pay fines for slow payments during the period.
Extension of the land use fee payments will be decided on a “case-by-case” basis and be valid for the amount which has to be paid to the State budget, excluding the fines for late payments.
For the projects developed for various purposes, the delayed land use fees will be calculated based on the allocated space for building houses for lease or sale.
The enterprises entitled to the land-use fee payment delay have to proclaim the fees while filing for their quarterly corporate income tax. The amounts paid to the State budget are based on those collected in property transfers, leases or sale contracts signed.
The circular also stipulates three subjects considered for payment delays for purchasing State-owned houses. They are households and individuals eligible for buying old State-owned house after June 6, 2013 when the Government’s relevant Decree 34/2013/ND-CP took effect, and those qualified for purchasing State-owned houses or allowed to continue buying State-owned houses in line with Decree 61/CP.
