02 cases requiring determination of the conversion factor Kqđ in Vietnam

18:04, 11/07/2024

Circular 38/2017/TT-BTNMT has been promulgated by the Ministry of Natural Resources and Environment of Vietnam stipulating the method of conversion from the resource tax calculation price to determine the calculation price for granting mineral extraction rights.

Circular 38 stipulates the following cases in which the conversion coefficient Kqđ must be determined:

- The taxable resource price issued by the Provincial People's Committee does not include a price level for raw minerals (minerals after extraction).

- The taxable resource price issued by the Provincial People's Committee includes a price level for raw minerals (minerals after extraction) but uses a unit of measurement different from the unit of measurement of the licensed mineral reserves.

Example: The licensed mining reserve (in the ground) is measured in m3 (or tons), while the raw minerals after extraction (already loosened) are measured in m3.

Refer to the principles for determining the conversion coefficient in Circular 38/2017/TT-BTNMT effective from November 30, 2017.

- Thanh Lam -

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