This is the important content prescribed at the Circular No. 139/2016/TT-BTC dated September 16, 2016 of the Ministry of Finance guiding the exemption from land use levy or land rental, refund to or clearing against financial obligations of social housing investors, and method of determination of land use levy payable by buyers or lessees-buyers when they are permitted to re-sell their social houses.
The payment of land use levy by buyers or buyers-lessees when they are permitted to re-sell their social houses as follows, for a social house being a condominium apartment, the seller shall pay to the state budget 50% of the land use levy value allocated to that apartment; for a social house being a low-story semi-detached house, the seller shall pay 100% of the land use levy.
A buyer or lessee-buyer that resells his/her social house being a low-story semi-detached house shall pay 100% of the land use levy, which shall be determined to be the land price used for calculation of the land use levy is the land price set by the provincial-level People’s Committee in the land price bracket multiplied by (x) the land price adjustment coefficient applicable at the time a buyer or lessee-buyer resells his/her social house multiplied by (x) the land area of the social house.
Besides, the Circular also details exemption from land use levy and land rental. The exemption from land use levy and land rental for non-state funded social housing construction projects. To exempt from land use levy or land rental for the entire land area allocated or leased by the State for social housing construction, including the land area for construction of business and trade works already approved by competent authorities within a social housing construction project; to exempt from land use levy or land rental for the entire land area slated for social housing construction which uses the 20% land area of commercial housing development projects and urban development investment projects as prescribed by the housing law, including the 20% land area for construction of business and trade works already approved by competent authorities within a social housing construction project; the investor of a social housing construction project shall carry out procedures for requesting exemption from land use levy or land rental.
This Circular takes effect on November 15, 2016.
