Promulgating Circular No. 41/2024/TT-BTC Amending and Supplementing Cases of Adjusting and Supplementing the Framework of Resource Tax Calculation Prices
Promulgation of Circular 41/2024/TT-BTC amending cases of adjustment and supplementation of resource taxation price framework
On May 20, 2024, the Minister of Finance promulgated Circular 41/2024/TT-BTC amending and supplementing several articles of Circular 44/2017/TT-BTC, which prescribes the price framework for resource taxation for categories and types of resources with similar physicochemical properties, and Circular 152/2015/TT-BTC which provides guidance on resource taxation.
Circular 41/2024/TT-BTC has amended the regulations on adjustment and supplementation of the resource taxation price framework in Article 6 of Circular 44/2017/TT-BTC.
Circular 41/2024/TT-BTC enters into force from July 15, 2024.
Promulgation of Circular 41/2024/TT-BTC amending cases of adjustment and supplementation of resource taxation price framework? (Image from the Internet)
Current regulations on adjustment and supplementation of the resource taxation price framework
According to Article 6 of Circular 44/2017/TT-BTC, the regulations on adjustment and supplementation of the resource taxation price framework are as follows:
(1) Cases of adjustment and supplementation of the resource taxation price framework:
- The market price of resources significantly fluctuates: increases by 20% or more compared to the maximum price or decreases by 20% or more compared to the minimum price in the taxation price framework promulgated by the Ministry of Finance;
- New types of resources not yet specified in the resource taxation price framework emerge.
(2) In cases where the market price of resources significantly fluctuates and requires adjustment outside the resource taxation price framework, within 30 days, the Department of Finance takes the lead to cooperate with the Tax Department, the Department of Natural Resources and Environment to report to the Provincial People's Committee for discussion with the Ministry of Finance before deciding to issue a document adjusting the resource taxation price table.
(3) For new types of resources not yet specified in the resource taxation price framework, the Department of Finance takes the lead to cooperate with the Tax Department, the Department of Natural Resources and Environment based on the prevalent market transaction price or the selling price of that resource on the market to propose and submit to the Provincial People's Committee to issue a document supplementing the resource taxation price table for that type of resource.
(4) The Department of Finance is responsible for providing information on cases requiring adjustment and supplementation of the resource taxation price framework as prescribed in Clause 1 of this Article and sending a document to the Ministry of Finance as a basis for adjusting the resource taxation price framework accordingly, no later than 30 days from the date of occurrence of cases requiring adjustment and supplementation of the resource taxation price table.
Latest regulations on adjustment and supplementation of the resource taxation price framework
According to Article 1 of Circular 41/2024/TT-BTC (effective from July 15, 2024) on adjustment and supplementation of the resource taxation price framework, the regulations are as follows:
Amending and supplementing Article 6 of Circular No. 44/2017/TT-BTC dated May 12, 2017, of the Minister of Finance regulating the resource taxation price framework for categories and types of resources with similar physicochemical properties
“Article 6. Adjustment and supplementation of the resource taxation price framework
- Cases of adjustment and supplementation of the resource taxation price framework:
a) The market price of resources decreases more than 20% compared to the minimum price in the resource taxation price framework;
b) The market price of resources increases more than 20% compared to the maximum price in the resource taxation price framework;
c) New types of resources not yet specified in the resource taxation price framework emerge.
In cases where the market price of resources decreases more than 20% compared to the minimum price in the resource taxation price framework, the Provincial People's Committee is responsible for sending a document to the Ministry of Finance to provide information along with specific proposals, dossiers, and explanatory plans as a basis for considering adjusting the resource taxation price framework. The Provincial People's Committee may only issue the resource taxation price table or a document prescribing adjustments to the resource taxation price table after the Ministry of Finance adjusts the resource taxation price framework.
In cases where the market price of resources fluctuates lower but not more than 20% compared to the minimum price or higher but not more than 20% compared to the maximum price in the resource taxation price framework, the Department of Finance takes the lead to cooperate with related agencies to determine and submit to the Provincial People's Committee to issue the resource taxation price table or a document prescribing adjustments to the resource taxation price table.
In cases where the market price of resources increases more than 20% compared to the maximum price in the resource taxation price framework, the Department of Finance takes the lead to cooperate with related agencies to determine and submit to the Provincial People's Committee to issue the resource taxation price table or a document prescribing adjustments to the resource taxation price table. After the issuance of the resource taxation price table or a document prescribing adjustments, the Provincial People's Committee is responsible for sending a document to the Ministry of Finance to provide information along with specific proposals, dossiers, and explanatory plans as a basis for considering adjusting the resource taxation price framework.
In cases where new types of resources not yet specified in the resource taxation price framework emerge, the Department of Finance takes the lead to cooperate with related agencies based on the prevalent market transaction price or the selling price of that resource on the market to determine and submit to the Provincial People's Committee to issue the resource taxation price table or a document prescribing the supplementation of the resource taxation price table for that new type of resource. After the issuance of the resource taxation price table or a document prescribing the supplementation of the resource taxation price table, the Provincial People's Committee is responsible for sending a document to the Ministry of Finance to provide information along with specific proposals, dossiers, and explanatory plans as a basis for considering supplementing the resource taxation price framework.”
The latest regulations on adjustment and supplementation of the resource taxation price framework have changed as follows:
(1) Cases of adjustment and supplementation of the resource taxation price framework:
- The case where the market price of resources significantly fluctuates: increasing 20% compared to the maximum price in the resource taxation price framework issued by the Ministry of Finance is removed;
(2) Additional regulations:
- In cases where the market price of resources decreases more than 20% compared to the minimum price in the resource taxation price framework, the Provincial People's Committee is responsible for sending a document to the Ministry of Finance to provide information along with specific proposals, dossiers, and explanatory plans as a basis for considering adjusting the resource taxation price framework.The Provincial People's Committee may only issue the resource taxation price table or a document prescribing adjustments to the resource taxation price table after the Ministry of Finance adjusts the resource taxation price framework.
- In cases where the market price of resources fluctuates lower but not more than 20% compared to the minimum price or higher but not more than 20% compared to the maximum price in the resource taxation price framework, the Department of Finance takes the lead to cooperate with related agencies to determine and submit to the Provincial People's Committee to issue the resource taxation price table or a document prescribing adjustments to the resource taxation price table.
- In cases where the market price of resources increases more than 20% compared to the maximum price in the resource taxation price framework, the Department of Finance takes the lead to cooperate with related agencies to determine and submit to the Provincial People's Committee to issue the resource taxation price table or a document prescribing adjustments to the resource taxation price table.After issuing the resource taxation price table or a document prescribing adjustments, the Provincial People's Committee is responsible for sending a document to the Ministry of Finance to provide information along with specific proposals, dossiers, and explanatory plans as a basis for considering adjusting the resource taxation price framework.
- In cases where new types of resources not yet specified in the resource taxation price framework emerge: After issuing the resource taxation price table or a document prescribing the supplementation of the resource taxation price table, the Provincial People's Committee is responsible for sending a document to the Ministry of Finance to provide information along with specific proposals, dossiers, and explanatory plans as a basis for considering supplementing the resource taxation price framework.
Respectfully!
