Vietnam: What are the codes of sub-sections for severance tax payment in 2024?
What are the codes of sub-sections for severance tax payment in Vietnam in Vietnam?
According to point b clause 1 Article 4 of Circular 324/2016/TT-BTC, the sub-section (also known as economic content code - NDKT) is a detailed classification of the section, used to classify state budget revenues and expenditures in detail according to the management objects within each section.
Appendix 3 on List of sections and sub-sections issued together with Circular 324/2016/TT-BTC stipulates the sub-sections for severance tax payment in Vietnam in 2024 as follows:
| section code | sub-section code | Name | |
| section | 1550 | severance tax | |
| sub-section | 1551 | Oil, condensate (excluding severance tax collected under agreements, contracts) | |
| 1552 | Hydropower water | ||
| 1553 | Metallic minerals | ||
| 1555 | Non-metallic minerals | ||
| 1556 | Aquatic products | ||
| 1557 | Products of natural forests | ||
| 1558 | Other natural waters | ||
| 1561 | Natural bird's nests | ||
| 1562 | Natural gas (excluding severance tax collected under agreements, and contracts) | ||
| 1563 | Coal gas (excluding severance tax collected under agreements, and contracts) | ||
| 1599 | Other mineral resources |
See the full list of chapter codes in detail: Here
What are the codes of sub-sections for severance tax payment in Vietnam in Vietnam? (Image from the internet)
Which items are subject to severance tax in Vietnam?
According to Article 2 of Circular 152/2015/TT-BTC, items subject to severance tax are natural resources within the land, islands, internal waters, territorial sea, contiguous zones, exclusive economic zone, and continental shelves under the sovereignty and jurisdiction of Socialist Republic of Vietnam, including:
- Metallic minerals.
- Non-metallic minerals.
- Products of natural forests, including plants and other products of natural forests other than animals, anise, cinnamon, cardamom planted by taxpayers within the area of natural forests they are given to cultivate and protect.
- Natural aquatic organisms, including marine animals and plants.
- Natural water, including: surface water and groundwater other than natural water used for agriculture, forestry, aquaculture, salt production, and seawater used for cooling machines.
Seawater used for cooling machines mentioned in this Clause must comply with regulations on environment, effectiveness of water recirculation, and technical requirements certified by competent authorities. The act of causing pollution when using seawater or using seawater without satisfying environmental standards shall be dealt with by legal regulations.
- Natural bird’s nests other than those collected from construction of houses to attract and raise natural swifts to collect their nest.
Bird’s nests collected from construction of houses to attract and raise natural swifts to collect their nest must comply with the legal regulations.
- The Ministry of Finance shall cooperate with relevant Ministries and agencies in reporting other natural resources to the Government.
What is the frame severance tax tariff in Vietnam?
Pursuant to Article 7 of the Law on Severance Tax 2009, the severance tax rates are specified as follows:
- The frame severance tax tariff is specified below:
|
No. |
Group or category of natural resource |
Severance tax rate (%) |
|
I |
Metallic minerals |
|
|
1 |
Iron and manganese |
7-20 |
|
2 |
Titan |
7-20 |
|
3 |
Gold |
9-25 |
|
4 |
Rare earths |
12-25 |
|
5 |
Platinum, silver and tin |
7-25 |
|
6 |
Wolfram and antimony |
7-25 |
|
7 |
Lead, zinc, aluminum, bauxite, copper and nickel |
7-25 |
|
8 |
Cobalt, molybdenum, mercury, magnesium and vanadium |
7-25 |
|
9 |
Other metallic minerals |
5-25 |
|
II |
Non-metallic minerals |
|
|
1 |
Soil exploited for ground leveling and work construction |
3-10 |
|
2 |
Rock, except rock used for lime baking and cement production; gravel; sand, except sand used for glass-making |
5-15 |
|
3 |
Soil used for brick-making |
5-15 |
|
4 |
Granite and refractory clay |
7-20 |
|
5 |
Dolomite and quartzite |
7-20 |
|
6 |
Kaolin, mica, technical quartz, and sand used for glass-making |
7-15 |
|
7 |
Pyrite, phosphorite, and stone for lime baking and cement production |
5-15 |
|
8 |
Apatite and serpentine |
3-10 |
|
9 |
Pit anthracite coal |
4-20 |
|
10 |
Open-cast anthracite coal |
6-20 |
|
11 |
Lignite and fat coal |
6-20 |
|
12 |
Other coals |
4-20 |
|
13 |
Diamond, ruby and sapphire |
16-30 |
|
14 |
Emerald, alexandrite and black precious opal |
16-30 |
|
15 |
Adrite, rodolite, pyrope, berine. Spinel and topaz |
12-25 |
|
16 |
Bluish-purple, greenish-yellow or orange crystalline quartz; chrysolite; white or scarlet precious opal; feldspar; birusa; and nephrite |
12-25 |
|
17 |
Other non-metallic minerals |
4-25 |
|
III |
Crude oil |
6-40 |
|
IV |
Natural gas and coal gas |
1-30 |
|
V |
Natural forest products |
|
|
1 |
Timber of group I |
25-35 |
|
2 |
Timber of group II |
20-30 |
|
3 |
Timber of groups III and IV |
15-20 |
|
4 |
Timber of groups V, VI, VII and VIII and of other categories |
10-15 |
|
5 |
Tree branches, tops, stumps and roots |
10-20 |
|
6 |
Firewood |
1-5 |
|
7 |
Bamboo of all kinds |
10-15 |
|
8 |
Sandalwood and calambac |
25-30 |
|
9 |
Anise, cinnamon, cardamom and liquorice |
10-15 |
|
10 |
Other natural forest products |
5-15 |
|
|
Natural aquatic resources |
|
|
1 |
Pearl, abalone and sea-cucumber |
6-10 |
|
2 |
Other natural aquatic resources |
1-5 |
|
VII |
Natural water |
|
|
1 |
Natural mineral water, natural thermal water and refined natural water, bottled or tinned |
8-10 |
|
2 |
Natural water used for hydropower generation |
2-5 |
|
3 |
Natural water used for production and business activities, except water mentioned at Points 1 and 2 of this group |
|
|
3.1 |
.Surface water |
1-3 |
|
3.2 |
Groundwater |
3-8 |
|
VIII |
Natural swallow's nests |
10-20 |
|
IX |
Other resources |
1-20 |
- Specific severance tax rates for crude oil. natural gas and coal gas shall be determined as partially progressive based on their daily exploited average output.
- Pursuant to Clauses 1 and 2 of Article 7 of the Law on Severance Tax 2009, the National Assembly Standing Committee shall stipulate specific severance tax rates for each category of natural resource in each period on the following principles:
+ Ensuring conformity with the list of groups and categories of natural resource and within the severance tax rate bracket prescribed by the National Assembly:
+ Contributing to the state management of natural resources; protection, exploitation and rational, economical and effective use of natural resources:
+ Contributing to assuring state budget revenues and market stabilization.
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