Business » Property
Phu My Hung extends land use fee payments
Phu My Hung Corporation (PMH) has announced a second rescheduling of land use fee payments for those customers purchasing houses in Zone A of Phu My Hung urban area in HCMC’s District 7.
March 9 is the deadline, which means landlords will have one month to pay the fee as required by law. The land use fee issue has caused a two-year row between the company and its customers.
There are more than 1,300 customers having failed to show up to take the tax bills and sign the tax declarations. This has resulted from the fact that most of these customers have been facing financial constraints, said a representative of PMH.
According to a Prime Minister decision, the land use fee in Saigon South will be imposed upon contract signing. Those signing their contracts in 2008 or earlier pay a fee which is 20 per cent to 50 per cent lower than the current level.
To cope with the situation, the company has suggested those unable to pay should borrow from banks such as Vietcombank, BAOVIET Bank, Indovinabank and HSBC with terms ranging from 7 to 15 years.
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