From July 1, New Framework for Calculating Resource Tax to be Applied

According to Circular 44/2017/TT-BTC, the groups and types of resources not governed by resource tax pricing frameworks include: natural water used for hydroelectric production; crude oil, natural gas, and coal gas.

The resource tax calculation price for natural water used in hydroelectric production follows the provisions in point a, clause 3, Article 4, while the resource tax calculation price for crude oil, natural gas, and coal gas follows the provisions in point d, clause 3, Article 4, Decree 50/2010/ND-CP.

The resource tax pricing framework for groups or types of resources with similar physical and chemical properties includes: the resource tax pricing framework for metallic minerals (Appendix I); non-metallic minerals; natural forest products (Appendix III); natural aquatic resources; natural water and natural bird's nests.

Based on the Resource Tax Pricing Framework issued in this Circular, the provincial People's Committee (PPC) will issue the Resource Tax Pricing Table applicable at the local level.

For types of resources that are extracted but not sold and need to undergo production or processing into industrial products before being sold, the resource tax calculation price is determined by subtracting processing costs as stipulated in Decree 12/2015/ND-CP and guided by Circular 152/2015/TT-BTC, but must ensure it remains within the Resource Tax Pricing Framework.

In cases of adjusting or supplementing the resource tax pricing framework when the prevalent market price of resources fluctuates significantly, i.e., increases by 20% or more of the maximum price, or decreases by 20% or more of the minimum price of the Resource Tax Pricing Framework issued by the Ministry of Finance, or when new types of resources emerge that are not yet included in the Resource Tax Pricing Framework.

In the case of significant resource price fluctuations requiring adjustments outside the Resource Tax Pricing Framework, within 30 days, the Department of Finance must cooperate with the Tax Department and the Department of Natural Resources and Environment to report to the provincial People's Committee, thereby communicating with the Ministry of Finance before deciding on issuing an adjustment document for the Resource Tax Pricing Table.

For new types of resources not yet included in the Resource Tax Pricing Framework, the Department of Finance, the Tax Department, and the Department of Natural Resources and Environment base on prevailing market transaction prices or market selling prices to submit to the provincial People's Committee for issuing supplementary regulations for the Resource Tax Pricing Table for these types of resources.

Cases requiring adjustments or supplements to the resource tax pricing framework as stipulated in Clause 1 of this Article must be sent to the Ministry of Finance as a basis for adjusting the Resource Tax Pricing Framework appropriately, no later than 30 days from the date of the occurrence of the adjustment or supplement cases of the Resource Tax Pricing Table.

For types of resources in the Resource Tax Pricing Table issued by the provincial People's Committee and still in effect, consistent with the Resource Tax Pricing Framework issued under this Circular, they will continue to be applied following the table issued by the provincial People's Committee.

For types of resources in the Resource Tax Pricing Table issued by the provincial People's Committee that are no longer consistent with the Resource Tax Pricing Framework issued with this Circular, the provincial People's Committee shall issue an adjusting document accordingly, no later than 90 days from the date this Circular takes effect.

Source: Vietnam Financial Times Online

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