DECREE

AMENDING ARTICLE 7 OF THE REGULATION ON HOUSE RENTING IN VIETNAM BY FOREIGN NATIONALS AND OVERSEAS VIETNAMESE

THE GOVERNMENT

Pursuant to the Law on Organization of the Government of September 30, 1992;
At the proposals of the Minister of Finance and the Minister of Construction,

DECREES:

Article 1.- To amend Article 7 of the Regulation on House Renting in Vietnam by Foreign Nationals and Overseas Vietnamese which was issued together with Decree No.56-CP of September 18, 1995, as follows:

The renting price shall be agreed upon by the two parties. The remittance to the State Budget by the renting party shall be based on the price written in the renting contract which shall not be lower than the taxable price applied in the locality by decision of the President of the People’s Committee of the province or city directly under the Central Government. In case the house-renting price in the locality is fluctuating at around 10%, the President of the People’s Committee of the province or city directly under the Central Government shall make adjustment to the taxable price in accordance with the actual price.

Article 2.- This Decree takes effect on February 1, 1997. The Ministers, the Heads of the ministerial-level agencies and agencies attached to the Government, and the Presidents of the People’s Committees of the provinces and cities directly under the Central Government, are responsible for the implementation of this Decree. On behalf of the Government

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FOR THE PRIME MINISTER
DEPUTY PRIME MINISTER




Phan Van Khai