Vietnam: Promulgating formula for determining technical design appraisal fee

09:48, 25/11/2016

On November 10, 2016, the Ministry of Finance of Vietnam issued Circular No. 210/2016/TT-BTC providing for fees for assessment of technical designs and construction cost estimate collection, transfer, management and use thereof.

According to Circular No. 210/2016/TT-BTC of the Ministry of Finance of Vietnam, assessment fee amount shall be determined by applying the following formula:

Assessment fee amount = construction cost x fee rate

Where:

- Construction cost is the VAT-exclusive building cost specified in the approved construction cost estimate or construction cost contract estimate.

- Fee rates are stipulated in Appendix 1 and 2 issued thereto.

Moreover, in case the construction cost is between the two values stated in the fee rate schedule enclosed herewith, assessment fee amount shall be determined by applying the following formula:

Where:

- Nt: Fee rate according to construction cost (unit: %)

- Gt: Construction cost (unit: value of construction work);

- Ga: Supremum construction cost (unit: value);

- Gb: Infimum construction cost (unit: value);

- Na: Fee rate corresponding to Ga (unit: %);

- Nb: Fee rate corresponding to Gb (unit: %).

View detailed Appendixes at Circular No. 210/2016/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2017.

- Thanh Lam -

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

42 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email [email protected]