On September 25th, 2021, the Prime Minister issued Decision 27/2021/QD-TTg on the reduction of land rent in 2021 for those affected by the Covid-19 epidemic.
Subjects eligible for land rent reduction in 2021 are organizations, bodies, enterprises, households and individuals that are directly leased land from the State under a decision of or contract with a competent state agency with annual land rental payment.
Regarding the level of reduction:
- Reduction of 30% of payable land rent in 2021, no reduction on the outstanding land rent of the years before 2021 and late payment interest (if any).
- The reduction is calculated on the payable land rent in 2021 according to the provisions of law.
In case the tenant is receiving a reduction in land rent as prescribed by laws, the reduction of 30% of the land rent shall be calculated on the payable land rent after the existing reduction has been made in accordance with the laws.
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This legal update is for general information only and is not a substitute for legal advice.
