| THE GOVERNMENT ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------- |
| No. 188/2004/ND-CP | Hanoi, November 16, 2004 |
DECREE
ON METHODS OF DETERMINING LAND PRICES AND ASSORTED-LAND PRICE BRACKETS
THE GOVERNMENT
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to November 26, 2003 Land Law No. 13/2003/QH11;
Pursuant to April 26, 2002 Price Ordinance No. 40/2002/PL-UBTVQH;
At the proposal of the Finance Minister,
DECREES:
Chapter I
GENERAL PROVISIONS
Article 1.- Objects of regulation
This Decree prescribes methods of determining land prices, assorted-land price brackets and valuating specific land categories in localities.
Article 2.- Scope of application
1. Land prices decided by the People’s Committees of the provinces or centrally run cities (hereinafter called the provincial-level People’s Committees for short) under the provisions of this Decree shall be used as basis for:
a) Calculating tax on land use and land use right transfer according to law provisions;
b) Calculating land use levies and land rents upon land assignment, land lease without going through auctions of land use rights or bidding for projects involving land use, for the cases prescribed in Articles 34 and 35 of the 2003 Land Law;
c) Calculating the land use right value when land is assigned without the collection of land use levies to organizations, individuals in the cases prescribed in Article 33 of the 2003 Land Law;
d) Determining the land use right value for calculation into the value of assets of State enterprises upon their equitization, with the selection of form of land assignment with the collection of land use levies under the provisions in Clause 3, Article 59 of the 2003 Land Law;
e) Calculating the land use right value to collect fees for registration of land use right transfer according to law provisions;
f) Calculating the land use right value for payment of compensations when the State recovers land for use for defense, security, national interest, public interest and/or economic development purposes as prescribed in Articles 39 and 40 of the 2003 Land Law;
g) Calculating damages to be paid by persons who have committed acts of violating land legislation, thus causing damage to the State as provided for by law.
2. In cases where the State assigns or leases land in form of land use right auction or bidding for projects involving land use, the auction or bid winning prices must not be lower than the prices decided by the provincial-level People’s Committees as provided for in this Decree.
3. This Decree shall not apply to cases where the land use right possessors reach agreement on land prices when exercising the right to transfer, lease or sublease their land use rights; or to contribute capital with the land use rights.
