The reason why land use fee collection in 2024 in Ho Chi Minh City is only 30.3% of the estimate

Land use fee collection in 2024 in Ho Chi Minh City only reached 10,288 billion VND, equal to 30.3% of the estimate.

Overview of the Thu Thiem Eco Smart complex project (Lotte Eco Smart City) expected to pay 16,000 billion VND in land use fees to Ho Chi Minh City - Photo: NGOC HIEN

Land use fees lowest in many years

The above information was announced by Mr. Nguyen Hoang Hai, Director of the Ho Chi Minh City Department of Finance, at the conference to summarize tasks in 2024 and deploy tasks in 2025 held on December 31, 2024.

Mr. Hai said that land use fees in 2024 will only reach VND10,288 billion, equal to 30.3% of the estimate (VND33,000 billion). The reason is due to changes in land law regulations.

However, this revenue shortfall of more than VND 22,700 billion was offset by about VND 15,000 billion from state-owned enterprises and increased revenue in the economic sector.

In particular, 14,500 billion VND of the Lotte Eco Smart City project was transferred from 2024 to 2025, contributing a significant part to the 2025 budget.

The Department of Finance is also actively resolving the issue of additional capital for 10 compensation policies in Thu Thiem, instead of having to wait until the Ho Chi Minh City People's Council meeting in March 2025.

Every day, Ho Chi Minh City has to collect 2,000 billion VND.

Speaking at the conference, Vice Chairman of Ho Chi Minh City People's Committee Nguyen Van Dung said that by December 31, 2024, Ho Chi Minh City's budget revenue in 2024 will approach VND510,000 billion.

Compared to the 2024 state budget revenue estimate assigned by the Ho Chi Minh City People's Council of VND 482,851.1 billion, Ho Chi Minh City has far exceeded the plan.

With this revenue, on average, Ho Chi Minh City must collect more than 2,000 billion VND per working day.

In 2025, the central budget revenue target is 506,000 billion VND, while the resolution of the Ho Chi Minh City People's Council assigns to strive to reach more than 520,000 billion VND. This is a huge challenge.

Mr. Dung requested the financial sector to continue to manage revenue sources well and urge budget collection in the area.

At the same time, we must pay attention to businesses, quickly resolve difficulties and obstacles for businesses, and nurture revenue sources.

In the context of the heavy budget collection task, in 2025, it is necessary to reorganize and streamline the apparatus.

In which, the Department of Finance, the Department of Planning and Investment, and the Enterprise Management Innovation Board will "come together" as planned. Mr. Dung suggested that it should be completed in the first quarter to stabilize and continue to implement the work.

Source: https://tuoitre.vn/ly-do-khien-thu-tien-su-dung-dat-nam-2024-tai-tp-hcm-chi-bang-30-3-du-toan-2025010123212705.htm