Legislators scrutinise land rental fee cut in 2024
The majority of the NA Standing Committee's members agreed on the need to continue reducing the land rental fees in 2024 as proposed by the Government.
Hanoi (VNA) – Lawmakers looked into the reduction of land rental fees for 2024 and the issuance of a government decree in this regard on March 11 morning as part of the 43rd session of the National Assembly Stand♊ing Committee.
Deputy Minister of Finance Bui Van Khang presented the Government’s report, highlighting efforts to ease difficulties and support business activities in the year.
NA Chairman Tran Thanh Man speaks at the meeting (Photo: VNA)
Accordingly, the Government has asked the Ministry of Finance to coordinate with relevant agencies and localities to swiftly draft regulations on land rental fee reductions for 2024 and submit them to the Government for approval and issuance, following the approach used in 2023.
On February 12, the Government issued Resolution No. 31/NQ-CP, seeking the NA Standing Committee’s opinions on the land rental fee reduction for 2024 and the decree.
The draft decree proposes a land rental fee reduction of approximately 4 trillion VND (nearly 157 million USD), equivalent to 0.26% of the total annual State budget revenue, and 9% of the annual state budget revenue from land leases (based on 2023 figures), Khang said.
According to Phan Van Mai, Chairman of the NA’s Economic and Finance Committee, the majority of the committee's members agreed on the need to continue reducing the land rental fees in 2024 as proposed by the Government.
NA Vice Chairman Vu Hong Thanh stated that while the reduction amount is not large and has little impact on the State budget revenue, it has a significant effect on the business and production of enterprises and people.
At the meeting, all attending members of the NA Standing Committee unanimously agreed in principle on the reduction, providing the basis for the Government to issue the decree./.
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