Database of Taxable Resource Pricing

Circular 44 stipulates that the natural resource tax valuation database comprises information related to the natural resource tax valuation collected, aggregated, and classified by tax authorities.

The natural resource tax valuation database is centrally and consistently constructed and regularly updated by the General Department of Taxation.

Furthermore, Circular 44 stipulates the sources of information forming the natural resource tax valuation database, including:

- The framework for natural resource tax valuation issued;- The price list for natural resource tax valuation issued by the Provincial People's Committee;- Information from existing natural resource tax declarations present in the natural resource tax declaration dossier declared by taxpayers;- Customs declarations for export and import of corresponding natural resources and minerals connected with the electronic declaration database system of the customs authority.- Accounting and financial reports of enterprises;- Purchase and sale transaction prices of resources and minerals listed and traded in domestic and international markets.- Information from tax authorities about the legal compliance of taxpayers.- Information from other sources: consists of information collected by tax authorities from related agencies, which has been verified for reliability.

The natural resource tax valuation database, as stipulated in Circular 44, is to be used for:

- Constructing the framework for natural resource tax valuation and the natural resource tax valuation price list;- Serving the management of risks, inspection, and examination of natural resource tax valuation.

For detailed information, refer to Circular 44/2017/TT-BTC, effective from July 1, 2017.

-Thao Uyen-

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