09 types of resources that are subject to severance tax according to Vietnam’s regulations

Recently, the Government of Vietnam issued Decree No. 50/2010/ND-CP guiding the Law on Severance tax 2009 of Vietnam. This Decree specifies 9 types of resources that are subject to severance tax.

9 loại tài nguyên phải chịu thuế tài nguyên, Nghị định 50/2010/NĐ-CP

According to Article 2 of Decree No. 50/2010/ND-CP of Vietnam’s Government, 09 severance tax-liable objects include:

- Metallic minerals.

- Non-metallic minerals.

- Crude oil.

- Natural gas.

- Coal gas.

- Natural forest products, including plants of all kinds and other natural forest products, other than animals and anise, cinnamon, amomum and cardamom which are grown by royalty payers in natural forest areas allocated to them for zoning off and protection.

- Natural marine products, including marine animals and plants.

- Natural water, including surface water and groundwater.

- Natural swallow's nests.

- Other resources, which shall be proposed by the Ministry of Finance in coordination with concerned ministries and branches to the Government for submission to the National Assembly Standing Committee for consideration and decision.

View more details at Decree No. 50/2010/ND-CP of Vietnam’s Government, effective from July 01, 2010.

Nguyen Phu

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