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The state to collect 50,000 billion from the sale of land and conversion of land use purpose

The state to collect 50,000 billion from the sale of land and conversion of land use purpose

 The Ministry of Finance has issued a report on the status, policies on tax on using, renting land and other policies related to the real estate market.

According to the report, the arrangement and settlement of state-owned facilities is necessary in the context of the need to rearrange the land facilities to be streamlined and effective as well as contributing to the urban planning, increasing revenue from land transfer.

As of December 2016, ministries and agencies all over countries have proposed plans to deal with 154,853 houses and land with a total area of 3,015 m2 of land and about 140 million m2 of housing.

Competent authorities have approved plans on rearrangement and treatment with 123,802 establishments, of which including the sale and transfer of 6.3 million m2 of land, the recovery of over 9 million m2 of land, conversion of land use purpose of over 3.3 million m2.

The total amount from the sale of assets on land transferred land use rights and conversing land use rights of ministries, state-own corporations,  and localities nationwide reached VND 50,000 billion.

However, representatives of the Ministry of Finance found that the arrangement and deployment of housing and land is still slow due to  mechanisms and policies.

The Ministry of Finance said that many ministries and units are not willing to relocate. Of the 67 ministries and localities, only 266 out of 1,053 establishments have been relocated. These are either polluting facilities that need to be relocated or relocated facilities for urban planning purposes.

Some facilities have not paid much attention to the arrangement of state-owned land and housing. Sanctions of competent agencies is not strong enough.

The report also frankly stated that some ministries, sectors and localities have not seriously complied by the termination of the lease, lending, joint venture or association contrary to regulations.

“Ministries, sectors and localities have been trying to keep houses and land under their management and use. Some units have been newly built by the State, but after moving to the new head office has not handed over old office for the state,” stated in the report from the Ministry of Finance.

The reasons for the above situation is due to the post-inspection of the implementation of the plan has not been defined in policy and the implementation is limited.

The Ministry of Finance said that houses and land are assets of huge value that need to be used economically and efficiently. Therefore, in the coming time, it is necessary to approve the mechanism of house and land arrangement to overcome the misuse contrary to regulations, waste of public assets of the state.

~~>>Update on new information on the real estate news in Vietnam here: Vietnam real estate news

The Ministry of Finance said that it is necessary to strictly and thoroughly handle cases of misuse such as lease, lending, joint venture, association, housing arrangement, encroachment …

For houses and land used ineffectively or contrary to regulations, representatives of the Ministry of Finance request the State to recover land to allocate for other organizations to use to create resources from the house and land fund for socio-economic development.

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The state to collect 50,000 billion from the sale of land and conversion of land use purpose
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