What are latest documents guiding the Law on Severance Tax in Vietnam?
What is the latest Law on Severance Tax in Vietnam?
The latest Law on severance tax is the Law on severance tax 2009 amended by the following laws:
- Law Amending Various Tax Laws 2014.
What are latest documents guiding the Law on Severance Tax in Vietnam?
The guiding documents for the latest Law on severance tax include:
- Decree 50/2010/ND-CP guiding the Law on severance tax 2009.
- Decree 12/2015/ND-CP guiding the Law amending and supplementing a number of articles of the laws on tax and amending and supplementing a number of articles of the decrees on tax.
- Circular 152/2015/TT-BTC guiding the severance tax.
- Resolution 1084/2015/UBTVQH13 on the severance tax rate table.
- Circular 41/2024/TT-BTC amending Circular 44/2017/TT-BTC stipulating the price framework for calculating severance tax for groups and types of resources with similar physical and chemical properties, and Circular 152/2015/TT-BTC guiding the severance tax.
What are latest documents guiding the Law on Severance Tax in Vietnam? (Image from the Internet)
What are severance tax-liable objects in Vietnam?
The subjects of severance tax are stipulated in Article 2 of the Law on severance tax 2009 (amended by Clause 1 Article 4 of the Law Amending Various Tax Laws 2014) including:
- Metallic minerals.
- Non-metallic minerals.
- Crude oil.
- Natural gas, coal gas.
- Products of natural forests, excluding animals.
- Natural seafood, including marine animals and plants.
- Natural water, including surface water and groundwater, excluding natural water used for agriculture, forestry, fishery, and salt production.
- Natural bird’s nests.
- Other resources as stipulated by the Standing Committee of the National Assembly.
Who is the taxpayer for severance tax?
Taxpayers for severance tax are stipulated in Article 2 of the Law on severance tax 2009 (amended by Clause 2 Article 67 of the Law on Petroleum 2022):
- Taxpayers for severance tax are organizations and individuals extracting resources subject to severance tax, except in cases of resource extraction for oil field and gas block extraction under the petroleum laws.
- Specific cases of severance tax payment:
+ Resource-extracting enterprises established on the basis of joint ventures shall have the joint venture enterprise as the taxpayer;
+ Vietnamese party and foreign party participating in business cooperation contracts on resource extraction must have their tax obligations specified in the business cooperation contract;
+ Organizations and individuals extracting resources on a small scale and selling to collection organizations or individuals that commit in writing to declare and pay tax on behalf of the resource-extracting organizations or individuals, then the collection organizations or individuals shall be the taxpayers.
What is the tax rate for severance tax in Vietnam?
The tax rates for severance tax are stipulated in Resolution 1084/2015/UBTVQH13 as follows:
- Tax rates for resources, except crude oil, natural gas, and coal gas:
| No. | Group, type of resource | Tax rate (%) |
|---|---|---|
| I | Metallic minerals | |
| 1 | Iron | 14 |
| 2 | Manganese | 14 |
| 3 | Titanium | 18 |
| 4 | Gold | 17 |
| 5 | Rare earth | 18 |
| 6 | Platinum, silver, tin | 12 |
| 7 | Tungsten, antimony | 20 |
| 8 | Lead, zinc | 15 |
| 9 | Aluminum, Bauxite | 12 |
| 10 | Copper | 15 |
| 11 | Nickel | 10 |
| 12 | Cobalt, molybdenum, mercury, magnesium, vanadium | 15 |
| 13 | Other metallic minerals | 15 |
| II | Non-metallic minerals | |
| 1 | Soil for leveling, construction | 7 |
| 2 | Stone, gravel | 10 |
| 3 | Limestone and cement production | 10 |
| 4 | White marble | 15 |
| 5 | Sand | 15 |
| 6 | Sand for glass making | 15 |
| 7 | Clay for bricks | 15 |
| 8 | Granite | 15 |
| 9 | Fireproof clay | 13 |
| 10 | Dolomite, quartzite | 15 |
| 11 | Kaolin | 13 |
| 12 | Mica, technical quartz | 13 |
| 13 | Pyrite, phosphorite | 10 |
| 14 | Apatite | 8 |
| 15 | Serpentine | 6 |
| 16 | Underground anthracite coal | 10 |
| 17 | Open-pit anthracite coal | 12 |
| 18 | Brown coal, fat coal | 12 |
| 19 | Other coal | 10 |
| 20 | Diamond, ruby, sapphire | 27 |
| 21 | Emerald, alexandrite, black opal | 25 |
| 22 | Acid, rodolite, pyrope, beryllium, spinel, topaz | 18 |
| 23 | Amethyst, cryolite, white opal, red fire opal, feldspar, turquoise, nephrite | 18 |
| 24 | Other non-metallic minerals | 10 |
| III | Products of natural forests | |
| 1 | Group I wood | 35 |
| 2 | Group II wood | 30 |
| 3 | Group III wood | 20 |
| 4 | Group IV wood | 18 |
| 5 | Group V, VI, VII, VIII, and other wood | 12 |
| 6 | Branches, tops, roots | 10 |
| 7 | Firewood | 5 |
| 8 | Bamboo, rattan, nứa, mai, giang, tranh, vầu, lồ ô | 10 |
| 9 | Agarwood, ky nam | 25 |
| 10 | Star anise, cinnamon, cardamom, amomum | 10 |
| 11 | Other products of natural forests | 5 |
| IV | Natural seafood | |
| 1 | Pearls, abalone, sea cucumbers | 10 |
| 2 | Other natural seafood | 2 |
| V | Natural water | |
| 1 | Natural mineral water, natural hot water, bottled or canned purified natural water | 10 |
| 2 | Natural water used for hydropower production | 5 |
| 3 | Natural water used for production, business, except as stipulated at Points 1 and 2 of this Group | |
| 3.1 | Surface water use | |
| a | For clean water production | 1 |
| b | For other purposes | 3 |
| 3.2 | Groundwater use | |
| a | For clean water production | 5 |
| b | For other purposes | 8 |
| VI | Natural bird’s nests | 20 |
| VII | Other resources | 10 |
- Tax rates for crude oil and natural gas, coal gas:
| No. | Extraction capacity | Tax rate (%) | Tax rate (%) |
|---|---|---|---|
| Investment incentive projects | Other projects | ||
| I | For crude oil | ||
| 1 | Up to 20,000 barrels/day | 7 | 10 |
| 2 | Over 20,000 to 50,000 barrels/day | 9 | 12 |
| 3 | Over 50,000 to 75,000 barrels/day | 11 | 14 |
| 4 | Over 75,000 to 100,000 barrels/day | 13 | 19 |
| 5 | Over 100,000 to 150,000 barrels/day | 18 | 24 |
| 6 | Over 150,000 barrels/day | 23 | 29 |
| II | For natural gas, coal gas | ||
| 1 | Up to 5 million m3/day | 1 | 2 |
| 2 | Over 5 million to 10 million m3/day | 3 | 5 |
| 3 | Over 10 million m3/day | 6 | 10 |
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