Laws of Vietnam

DECISION No.761-TTg ON THE 16TH OF DECEMBER 1994 OF THE PRIME MINISTER ON ADJUSTING THE RATE OF DEDUCTION FROM REVENUE COLLECTED FROM THE GRANTING OF THE RIGHT TO USE LAND AND FROM THE SALE OF STATE-OWNED DWELLING HOUSES IN 1994.

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government on the 30th of September 1992;

In order to encourage the provinces and cities to strive to fulfil and overfulfil the 1994 plan on the collection of revenue from the granting of the right to use land and from the sale of State-owned dwelling houses; to create conditions for the localities to have investment capital for the construction of infrastructure facilities according to the plan already approved, and to maintain and promote the housing fund;

At the proposals of the Minister of Finance and the President of the People's Committees of the provinces and cities directly under the Central Government.

DECIDES:

Article 1.- To set aside for the local budget 70% of the money collected from the granting of the right to use land and 100% of the money collected from the sale of State-owned houses under local management and to remit the rest to the State budget in 1994. This money can be used only for the purpose of building infrastructure facilities and promoting the housing fund, not for any other purpose.

Article 2.- This Decision is effective for fiscal year 1994 and replaces the stipulations at Points (b) and (c), Article 2, of Decision No.398-TTg on the 4th of August 1994. The Minister of Finance shall guide the implementation of this Decision.

Article 3.- The Ministers, the Heads of ministerial-level agencies, the Heads of the agencies attached to the Government, the Presidents of the People's Committees of the provinces and cities directly under the Central Government shall have to implement this Decision.

For the Prime Minister

Deputy Prime Minister

PHAN VAN KHAI