Proposed 0.2% tax on idle land and land left unused or slow to be put to use

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• 'Firms That Have Not Fully Paid Land Fees Should Be Allowed to Transfer Stalled Projects'

  Nguyễn Thị Việt Nga, deputy head of the Hải Phòng delegation to the National Assembly, proposed letting businesses that have not fully paid land fees transfer unfinished projects, so frozen resources can return to the economy. Draft Article 30 of the amended Real Estate Business Law requires investors to complete land financial obligations before transferring all or part of a project. Nga agrees with the rule, which prevents debt write-offs through transfers, but says investors that lose or seriously weaken financial capacity need a solution, as stalled projects tie up land and credit. Her proposal allows the buyer to take over outstanding obligations, subject to the authority confirming the amount, the buyer proving financial capacity, and the balance being paid from the transfer price into the budget, with no debt write-off. Bùi Xuân Hải, rector of Hải Phòng University, backs a similar approach but asks for written commitments on deadlines for meeting obligations to the State.

  VnExpress·22/10, 05:47• VNINDEXreal estateVietnamregulation
• National Assembly spends full day debating three draft laws on land, housing and real estate

  On October 22, the National Assembly spent the day in group debate on three amended laws: the Land Law, the Housing Law and the Real Estate Business Law, after ministers presented the drafts and committees reported on them. For the Land Law, the draft aims to base land valuation on scientific data and methods, refine land price tables and adjustment coefficients to prevent manipulation and “virtual” land prices, and clearly define the limited cases in which land may be recovered before compensation plans are approved. Vice Chairman Nguyễn Hồng Diên urged safeguards against interest-group capture and corruption, and a review to keep the three laws consistent. For the Real Estate Business Law, he called for a mechanism to resolve projects whose investors can no longer carry them out, consider widening the types of contracts that may be transferred, and standardise public disclosure of model contracts to reduce disputes.

  CafeF·22/10, 01:32▲ DIG▲ DXG▲ KDH▲ NLGreal estatelandhousing
• Government Proposes 0.2% Tax on Idle Land

  The government proposes a 0.2% tax on idle land, meaning land not put to use or delayed in use, with no quota applied. On 23/10, Finance Minister Ngô Văn Tuấn submitted to the National Assembly a draft law amending three tax laws: corporate income tax, non-agricultural land use tax, and personal income tax. The drafters say the move aims to institutionalize Resolution 21 of the Central Committee and reduce idle land. The draft Land Law would reclaim agricultural land left idle for more than 24 consecutive months, while delayed project land would incur annual surcharges that rise each year and be reclaimed after 60 months without exploitation. The National Assembly's Economic and Financial Committee said the file lacks an assessment of budget revenue impact, does not exclude force majeure or phased projects, and needs alignment with the Land Law. If passed on 20/11, the law would take effect in 2027.

  VnExpress·23/10, 02:14• DXG• NLG• PDRtaxesreal estateVietnam
• Government proposes adjusting land price tables once every three years

  The Government proposes amending the Land Law so that land price tables and the price adjustment coefficient (K), set by provincial People's Councils, are revised once every three years instead of annually. The draft removes specific land price rules and price advisory bodies, with the State setting prices under principles of honesty, objectivity, openness and transparency. Land price tables and K coefficients would be applied uniformly for budget land revenue, auction starting prices, compensation for land recovery, and related taxes and fees. The draft also allows recovery of abandoned land, such as agricultural land left unused for more than 24 months after an administrative penalty, or project land unused for over 60 months. The draft has 3 chapters and 112 articles, 148 fewer than the current law, and is scheduled for a National Assembly vote on 21 November.

  VnExpress·22/10, 02:19• DXG• KDH• NLG• VHMreal estateVietnamregulation
• Rising inflation triggers £1 . 1bn business rates hike next April

  An analysis by tax firm Ryan says businesses in England face a £1.1bn rise in business rates from next April unless the chancellor intervenes, after UK inflation rose to 3.5% in September from 3.1% in August, the third consecutive increase. Industrial property faces £302m, offices £244m, retail £206m and hospitality £129m. The increase comes just a year after the 2026 revaluation lifted rateable values in England by 19.4%. Ryan’s Alex Probyn said the UK already has the highest property taxes of any major economy at 3.7% of GDP and urged the chancellor to limit the rise in the Budget. Richard Pike of Phoebus Software warned that interest rates could stay higher for longer, adding uncertainty for borrowers and the housing market.

  propertyweek.com·21/10, 14:30• GBP/USDUKinflationinterest rates
• Difficult times arent a sign of schism at the top of the ALP

  Readers' letters respond to coverage of tension between Prime Minister Albanese and Treasurer Jim Chalmers after the May budget. Some argue the budget was only mildly inflationary, that most spending came from the private sector, and that Chalmers deserves credit for ending negative gearing and capital gains concessions, while others call for leaders to stop scapegoating each other and take responsibility. Two readers criticise the Greens over their handling of allegations of inappropriate behaviour towards women, citing a 47-page dossier maintained for almost a decade to manage media scrutiny and monitor party members.

  smh.com.au·18/10, 08:30Australiabudgettaxes

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  CNBC·23/10, 06:15defenseUkraineEurope
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  Yahoo Finance·23/10, 06:14• NVDANvidiaartificial intelligenceAI investment
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  Yahoo Finance·23/10, 06:01▼ META▼ QQQ▼ NVDAtech stocksAI investmentearnings
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  Bank of Japan·23/10, 06:00Japanbanksinterest rates