Ministry of Finance proposes exemption and reduction of land rent for agricultural projects
Investment news
04/02/2025
The Ministry of Finance is seeking comments on the draft regulations on cases of exemption and reduction of land use fees and land rents that are not yet regulated in the 2024 Land Law. In particular, the ministry proposes to exempt and reduce land rents for enterprises investing in agricultural and rural projects.
Specifically, agricultural projects with investment incentives and agricultural projects that encourage investment will be exempted from land rents during the entire basic construction period. After this time, agricultural projects with investment incentives will continue to be exempted from land rents for 15 years and have 50% of rents reduced for the next 7 years.
Agricultural projects that encourage investment will be exempted from land rents for an additional 11 years and have 50% of rents reduced for the next 5 years. For the group of enterprises investing in small and medium-sized agricultural projects, the ministry proposes to be exempted from land rents for 5 years and have 50% of rents reduced for the next 10 years.
Ho Chi Minh City real estate with agricultural land, November 2024. Photo: Quynh Tran
In addition, cases of land leased annually for agricultural, forestry, aquaculture, and salt production purposes that are affected by natural disasters or fires will also be exempted or have land rent reduced according to specific levels of damage.
Previously, the Ministry of Finance also proposed that the Government submit to the National Assembly a Resolution to extend the exemption period for agricultural land use tax by 5 more years, until the end of 2030.
According to the Ministry, after 20 years of implementing the agricultural land tax exemption and reduction policy, farmers' lives have improved and employment in rural areas has also improved. Tax exemption and reduction reduces state budget revenue. However, this solution encourages investment and sustainable agricultural economic development, in line with the context of international integration. This helps to increase the competitiveness of agricultural products in the context of international integration.
Phương Uyên
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