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Kiên Giang Province focuses on growing, protecting forests - Environment - Vietnam News | Politics, Business, Economy, Society, Life, Sports


Update:
May, 29/2021 - 09:06
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Nguyễn Văn Cộng breeds shrimp and crab in mangrove forests in Kiên Giang Province’s Hòn Đất District. – VNA/VNS Photo Hồng Đạt
KIÊN GIANG – The Cửu Long (Mekong) Delta province of Kiên Giang is developing mangrove forests in coastal areas and improving the livelihoods of households that protect forests.
It is growing new mangrove forests in the districts of An Biên, An Minh and Hòn Đất.
A project to create mud flats and growing mangrove forests in An Biên’s Nam Thái Commune has so far planted 35ha of new mangrove forests, according to the province Department of Agriculture and Rural Development. ....

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Funds for forests


LI MIN/CHINA DAILY
Forests, covering 31 percent of the Earth s total land area, are home to about 80 percent of the world s terrestrial biodiversity, feed over 25 percent of the world s population, and act as the most productive land-based ecosystems. In 2020, the total carbon stock in forests was 662 gigatonnes, making forests the second largest storehouse of carbon to mitigate climate change after the oceans.
Global forestry has faced increasing challenges in the past few decades, such as deforestation and forest degradation, as a result of population growth, poorly planned and constructed infrastructure, other unsustainable activities and natural disasters. According to the Global Forest Resources Assessment 2020, which was released by the Food and Agriculture Organization last year, the world has lost around 420 million hectares of forest land to other land uses since 1990. ....

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Why stepped-up basis is important for maintaining family forests


Following the death of the owner, stepped-up basis allows for forestland and timber to be valued at current market value, with that value being the new owner’s basis in them. The new owner will calculate any future capital gain using that stepped-up basis. Plus, no capital gains tax is due on the unrealized capital gain that would have resulted from the transfer. For example, if the original owner paid $500,000 for forestland in the past, and at the time of his or her death its value was $2,000,000, then the unrealized capital gain would have been $1,500,000, with the estate owing 20 percent of that, or $300,000 in taxes.  ....

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