Announcing the President's Order on the Land Law and the Law on Credit Institutions越南文
Announcing the President's Order on the Land Law and the Law on Credit Institutions
On the morning of February 19, the representative of the President's Office announced the full text of the President's Order on promulgation of the Land Law (amended) and the Law on Credit Institutions.
These laws were passed by the 15th National Assembly at its 5th Extraordinary Session.
Accordingly, the Land Law (amended) announced by Order of the President has many new points.
Announcing the President's Order on Land Law and Law on Credit Institutions with many new points. (Photo: quochoi.vn).
Specifically, the law stipulates the principles, bases, and methods of land valuation, stipulates that the land price list is developed annually and the first land price list is announced and applied from January 1, 2026, regulated by regulations. Adjust, amend and supplement the land price list from January 1 of the following year.
The construction of land price lists according to value areas and standard land plots for areas with digital cadastral maps and land price database.
Besides, the new law has perfected the rights of Vietnamese people residing abroad. Specifically, for Vietnamese people residing abroad with Vietnamese nationality, they are Vietnamese citizens with full land-related rights like citizens in the country (domestic individuals).
Regarding land recovery and land requisition, the law specifically stipulates cases where the State recovers land for socio- economic development for national and public benefits, and to implement public construction projects. construction of state agency headquarters and public service projects.
Other cases include many groups of criteria such as housing, production areas, land fund development, minerals, underground works and cases where the State recovers land for auction or bidding to increase budget revenue. ..
Specifying the grounds and conditions for land recovery for purposes of national defense, security, socio-economic development for national and public benefits...
Also related to the Land Law, the Ministry of Natural Resources and Environment is currently collecting comments on a draft Government decree regulating land prices, which specifically stipulates 4 valuation methods and land price lists including: compare; income; surplus and land price adjustment coefficient.
Information on land prices, land rental prices, ground rental prices to apply the comparison method, surplus method and build the land price adjustment coefficient is information within a period of no more than 24 months from the time Retrospective land prices are collected in the National Land Database, National Price Database.
Information can also be collected from sources such as winning prices at auctions of land use rights; Land price is stated in the transfer contract; land price used to collect financial obligations at tax authorities; Land transfer prices, land rental prices, successful market rental prices are collected...
In addition, according to the draft, information on costs and income from the use of agricultural land to apply the income method must be collected at the statistical, tax, and agricultural and rural development agencies. .
In case there is no statistical data or data from those agencies, collect information on the actual costs common in the market of at least 3 plots of land with the closest distance to the plot or land area. need valuation.
" Land valuation consulting organizations when collecting information to apply land valuation methods must be honest, objective and responsible before the law for the accuracy of investigation information ," the draft clearly states.
Units and organizations conducting auctions of land use rights, land registration offices, tax authorities, statistical agencies, agricultural and rural development agencies, are responsible for providing information to serve land valuation in writing or electronically within no more than 5 working days.
Meanwhile, the Law on Credit Institutions (amended) was passed regulating the establishment, organization, operation, early intervention, special control, reorganization, dissolution, and bankruptcy of organizations. Credit; the establishment, organization, operation, early intervention, dissolution, and termination of operations of foreign bank branches; the establishment and operation of representative offices in Vietnam of foreign credit institutions and other foreign organizations with banking activities; The handling of bad debts, collateral assets of bad debts of credit institutions, foreign bank branches, organizations in which the State owns 100% charter capital with the function of buying, selling and handling debts.
