Adjustment and Supplementation of the Framework for Natural Resource Taxation

According to Circular 44, it stipulates the cases of adjustment and supplementation of the tax calculation framework for resources, including:

- The market price of resources fluctuates significantly: an increase of 20% or more compared to the maximum price or a decrease of 20% or more compared to the minimum price of the resource tax calculation framework issued by the Ministry of Finance;- The emergence of new types of resources not yet specified in the resource tax calculation framework.- For cases where the price of resources fluctuates significantly and requires adjustment outside the resource tax calculation framework, within 30 days, the Department of Finance shall take the lead and cooperate with the Department of Taxation, Department of Natural Resources and Environment to report to the provincial People's Committee to exchange documents with the Ministry of Finance before deciding to issue the adjustment of the resource tax calculation framework.- For new types of resources not yet specified in the resource tax calculation framework, the Department of Finance shall take the lead in cooperating with the Department of Taxation, the Department of Natural Resources and Environment based on the common transaction price on the market or the selling price of that resource on the market to propose to the provincial People's Committee to issue a document that supplements the resource tax calculation framework for that type of resource.- The Department of Finance is responsible for providing information on cases that require adjustment and supplementation of the resource tax calculation framework and sending documents to the Ministry of Finance as a basis for adjusting the resource tax calculation framework accordingly, no later than 30 days from the date of arising cases requiring adjustment and supplementation to the resource tax calculation framework.

See details Circular 44/2017/TT-BTC effective from July 1, 2017.

-Thao Uyen-

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