In a recent dispatch sent to ministries, ministerial-level agencies, government agencies, other central agencies, and People's Committees of provinces and centrally-run cities, the Ministry of Finance said that the 2024 Land Law will take effect from August 1, 2024; in which, it stipulates a number of contents related to the management and use of public assets.

Regarding the transitional handling of the application of the Land Price List, the Ministry of Finance said that the Land Price List issued by the Provincial People's Committee in accordance with the provisions of the 2013 Land Law will continue to be applied until December 31, 2025;

If necessary, the Provincial People's Committee shall decide to adjust the land price list according to the provisions of this Law to suit the actual situation of land prices in the locality. The procedure for adjusting the Land Price List in this case (if any) shall comply with the provisions of Article 17 of Decree No. 71/2024/ND-CP dated June 27, 2024 of the Government regulating land prices.

In addition, the Ministry of Finance said that the unit has submitted to the Government for promulgation Decree No. 103/2024/ND-CP dated July 30, 2024 regulating land use fees and land rents, and Decree No. 104/2024/ND-CP dated July 31, 2024 regulating the Land Development Fund.

These include regulations on calculation, collection, payment, exemption and reduction of land use fees and land rent; on organization, operation and financial mechanism of the Land Development Fund; handling of transitional land use fees and land rent for cases where land has been allocated or leased; on the operation of the Land Development Fund before the effective date of the 2024 Land Law; responsibilities of relevant ministries, central agencies, and provincial People's Committees after these Decrees come into effect.