The Da Nang People's Committee has just issued decisions to extend the deadline of putting the city-allocated land into use for the Da Nang Trading and Construction JSC and the Tan Cuong Thanh Electric Cable JSC.

Specifically, the Da Nang administration has approved the extension of the land use period for 24 months from the date of signing the decision for a 5,000m2 land plot allocated for the Da Nang Trading and Construction JSC to develop a warehouse project in Hoa Phuoc Commune, Hoa Vang District.

Similarly, the same extension period has been applied to the Tan Cuong Thanh Electric Cable JSC for the land plots of 26,504.6m2, 28,484.1m2 and 25,889.6m2. These land plots belong to the project of industrial, service, commercial and high-tech products in Hoa Hiep Bac Ward, Lien Chieu District.

The reason for the extension is that the enterprises have not put the land into use as prescribed in Clause 1, Article 64, Law No. 45/2013/QH13 (Law on Land 2013).

If by the end of the extended period, the above-mentioned enterprises do not put the aforementioned land into use, the State shall revoke it without compensation for the land and land-attached assets, except in the case of force majeure.

The Da Nang People's Committee has assigned the  municipal Tax Department to calculate and notify enterprises of the amount to be paid (if any) into the State budget corresponding to the extended time of land use as prescribed.

Reporting by M.Q - Translating by A.THU