On April 11, 2025, the Government promulgated Decree 87/2025/ND-CP stipulating the reduction of land lease fee for 2024 (Decree 87). Decree 87 was formulated with the objective of supporting enterprises and individuals in responding to impending difficulties and challenges amidst economic uncertainties and risks, while concurrently providing assistance to localities affected by Yagi Typhoon in 2024. This Decree encompasses several salient provisions that land users should take note of, as follows:
(i) Decree 87 applies to land users who are currently leasing land directly from the State in 2024 through annual land lease payment;
(ii) Decree 87 allows land users to receive a 30% reduction of the land lease fee payable for 2024;
(iii) Decree 87 stipulates the procedures for land users to request a reduction of land lease fee for 2024.
