Decree No. 09/CP Amending Article 7 of the Regulations for Foreigners and Overseas Vietnamese to Rent Housing in Vietnam

DECREE OF THE GOVERNMENT
DECREE NO. 09-CP OF FEBRUARY 30, 1997, ISSUED BY THE GOVERNMENT ON AMENDING ARTICLE 7 OF THE REGULATIONS FOR FOREIGNERS AND VIETNAMESE RESIDENTS ABROAD RENTING HOUSING IN VIETNAM
REGARDING THE REGULATIONS FOR FOREIGNERS AND VIETNAMESE RESIDENTS ABROAD RENTING HOUSING IN VIETNAM
IN VIETNAM

 THE GOVERNMENT

Pursuant to the Government Organization Law dated September 30, 1992;

AT THE REQUEST OF THE MINISTER OF FINANCE AND THE MINISTER OF CONSTRUCTION, 

DECREE:

Article 1. AMEND ARTICLE 7 OF THE REGULATIONS FOR FOREIGNERS AND VIETNAMESE RESIDENTS ABROAD RENTING HOUSING IN VIETNAM AS ISSUED ACCOMPANIED WITH DECREE NO. 56/CP ON SEPTEMBER 18, 1995 AS FOLLOWS:

THE RENTAL PRICE IS AGREED UPON BY BOTH PARTIES. THE AMOUNTS TO BE PAID INTO THE STATE BUDGET BY THE LESSOR MUST BE BASED ON THE PRICE STATED IN THE HOUSING LEASE CONTRACT BUT SHALL NOT BE LOWER THAN THE TAXABLE PRICE APPLICABLE IN THE LOCALITY AS DETERMINED BY THE CHAIRMAN OF THE PROVINCE PEOPLE'S COMMITTEE OR THE CITY PEOPLE'S COMMITTEE UNDER THE CENTRAL GOVERNMENT. IN CASES WHERE THE HOUSING RENTAL PRICES IN THE LOCALITY FLUCTUATE (+/- 10%), THE CHAIRMAN OF THE PROVINCE PEOPLE'S COMMITTEE OR THE CITY PEOPLE'S COMMITTEE UNDER THE CENTRAL GOVERNMENT SHALL ADJUST THE TAXABLE PRICE TO MATCH THE ACTUAL MARKET PRICE.

Article 2. THIS DECREE TAKES EFFECT FROM FEBRUARY 1, 1997. THE MINISTERS, HEADS OF GOVERNMENT AFFILIATED AGENCIES, HEADS OF GOVERNMENT SUBORDINATE AGENCIES, AND THE CHAIRMEN OF THE PROVINCE PEOPLE'S COMMITTEE OR THE CITY PEOPLE'S COMMITTEE UNDER THE CENTRAL GOVERNMENT ARE RESPONSIBLE FOR ITS IMPLEMENTATION./.