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MINISTRY OF FINANCE OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No. 41/2024/TT-BTC
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Hanoi, May 20, 2024
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CIRCULAR
AMENDMENTS TO CIRCULAR NO. 44/2017/TT-BTC DATED MAY 12, 2017
OF THE MINISTER OF FINANCE OF VIETNAM ON THE TAXABLE PRICE BRACKETS FOR
GROUPS/TYPES OF NATURAL RESOURCES WITH SIMILAR PHYSICAL AND CHEMICAL PROPERTIES
AND CIRCULAR NO. 152/2015/TT-BTC DATED OCTOBER 2, 2015 OF THE MINISTER OF
FINANCE OF VIETNAM ON GUIDELINES ON SEVERANCE TAX
Pursuant to the Law on
Severance Tax dated November 25, 2009;
Pursuant to Decree No.
50/2010/ND-CP dated May 14, 2010 of the Government of Vietnam on elaboration
and guidelines on the implementation of the Law on Severance Tax;
Pursuant to Decree No.
12/2015/ND-CP dated February 12, 2015 of the Government of Vietnam on
guidelines on the implementation of the Law on amendments to Tax Laws and
Decrees on Taxations;
Pursuant to Decree No.
14/2023/ND-CP dated April 20, 2023 of the Government of Vietnam on functions,
tasks, entitlements, and organizational structure of the Ministry of Finance of
Vietnam;
At the request of the
Director of the General Department of Taxation of Vietnam;
The Minister of
Finance of Vietnam hereby promulgates a Circular on amendments to Circular No.
44/2017/TT-BTC dated May 12, 2017 of the Minister of Finance Of Vietnam on the
taxable price brackets for groups/types of natural resources with similar
physical and chemical properties and Circular No. 152/2015/TT-BTC dated October
2, 2015 of the Minister Of Finance of Vietnam on guidelines on severance tax.
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“Article 6. Amendments
to taxable price bracket
1. Cases of amendments to
the taxable price bracket:
a) The price of common
natural resources decreases by more than 20% compared to the minimum price of
the taxable price bracket;
b) The price of common natural
resources increases by more than 20% compared to the maximum price of the
taxable price bracket;
c) There is a new type of
natural resource that has yet been specified in the taxable price bracket.
2. Where the price of
common natural resources decreases by more than 20% compared to the minimum
price of the taxable price bracket, the Provincial People’s Committee shall
submit a document to the Ministry of Finance of Vietnam to provide information
enclosed with specific presentation proposals, documents, and schemes for use
as the basis for considering adjusting the taxable price bracket. The
Provincial People’s Committee shall only promulgate a taxable price schedule or
a document on adjustments to the taxable price schedule after the Ministry of Finance
of Vietnam has adjusted the taxable price bracket.
3. Where the price of
common natural resources decreases by 20% or less compared to the minimum price
or increases by 20% or less compared to the maximum price of the taxable price
bracket, the Department of Finance shall take charge and cooperate with
relevant authorities in determining and requesting the Provincial People’s
Committee to promulgate a taxable price schedule or a document on adjustments
to the taxable price schedule.
4. Where the price of
common natural resources increased by more than 20% compared to the maximum
price of the taxable price bracket, the Department of Finance shall take charge
and cooperate with relevant authorities in determining and requesting the
Provincial People’s Committee to promulgate a taxable price schedule or a
document on adjustments to the taxable price schedule. After promulgating
a taxable price schedule or a document on adjustments to the taxable price
schedule, the Provincial People’s Committee shall send a document to the
Ministry of Finance of Vietnam to provide information enclosed with specific
presentation proposals, documents, and schemes for used as the basis for
considering adjusting the taxable price bracket.
5. Where there is a new
type of natural resource that has yet been specified in the taxable price
bracket, the Department of Finance shall take charge and cooperate with
relevant authorities in determining and requesting the Provincial People’s
Committee to promulgate a taxable price schedule or a document on additions to
the taxable price schedule for such a type of natural resource based on its
common transaction price or selling price. After promulgating a taxable price
schedule or a document on additions to the taxable price schedule, the
Provincial People’s Committee shall send a document to the Ministry of Finance
of Vietnam to provide information enclosed with specific presentation
proposals, documents, and schemes for used as the basis for considering making
additions to the taxable price bracket.”
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1. Clause 5.2 Article 6
shall be annulled.
2. Amendments to Clause
5.3 Article 6:
“The Department of
Finance shall cooperate with relevant authorities in developing and requesting
the Provincial People’s Committee to promulgate a taxable price schedule by
December 31 every year for disclosure and application from January 1 of the
following year.
Within 30 days from the
date the Provincial People’s Committee promulgates the taxable price schedule
or the document on adjustments or additions to the taxable price schedule, the
Department of Finance shall provide information and a document for the Ministry
of Finance of Vietnam (through the General Department of Taxation of Vietnam)
for updating the database on taxable prices.”
3. Amendments to Point a
Clause 1 Article 13:
“1. The Provincial
People’s Committee shall:
a) Direct the Department
of Finance to take charge and cooperate with relevant authorities in developing
a taxable price schedule for local application and regularly making reviews and
adjustments in conformity with the local developments.”
Article
3. Implementation provisions
1. This Circular comes
into force as of July 15, 2024.
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PP. MINISTER
DEPUTY MINISTER
Cao Anh Tuan