No tax on farmers for agricultural land

The ministries of Finance and Agriculture and Rural Development are asking the Government to retain its tax-free policy for agricultural land from 2011 to 2020.

The policy, effective since 2003, has helped around 11.2 million farmer households save a total of 2 million tonnes of rice, according to the ministries. Each farmer has saved 50,000 VND (3 USD) annually.

The ministries have targeted to not collect this tax after 2020.

In other news, the Ministry of Labour, Invalids and Social Affairs will not begin a national survey on poor households until the Government approves new standards.

During the 2006-10 period, households with an average income under 260,000 VND (14 USD) a month for each member in urban areas and under 200,000 VND (11 USD) a month in rural areas, were considered poor.

But in 2011-15, standards would rise up to 500,000 VND and 400,000 VND for urban and rural residents, respectively. Under the new standard, there would be 3.3 million households, or 16.5 million poor people. – Vietnamplus

Tags: Vietnam agricultural land