Farmers hail land tax waiver
An estimated 12.5 million people will be eligible for agriculture land tax exemption, leaving merely 77,000 people still subject to this tax. The tax waiver, provided in a decree signed by Prime Minister Nguyễn Xuân Phúc at the end of last month, came in for mixed reviews. While many farmers hailed it, others said there were more pressing problems for their sector. Accordingly, owners – households or individuals – will no longer have to pay tax for the certified agriculture lands in their possession. According to a report by the Ministry of Finance, total agriculture land in the country reached 26.8 million hectares in 2014, 38 per cent of which – 10.2 million hectares – were subjected to tax under the Agriculture Land Taxation Law. However, tax is now waived for 6.9 million hectares, or 68 per cent of the total taxable agriculture land.
