Management and use of charges for granting mining right in Vietnam

According to Article 12 of Decree No. 67/2019/NĐ-CP of Vietnam’s Government, the management, use and refund of charges for granting mining right shall comply with regulations of the Law on state budget of Vietnam, specifically as follows:

- A maximum of 10% of collected charges for granting mining right shall be used for covering expenditures on investigation and protection of mineral resources, supervision of mining operation and environment protection.

- 70% of collected charges for granting mining right shall be transferred to central-government budget and the remaining amount of 30% shall be transferred to local-government budget in case mining licenses are granted by central-level agencies; 100% of collected charges for granting mining right shall be kept by local government budget in case mining licenses are granted by provincial People’s Committee.

- Funding for covering expenditures on determination of charges for granting mining right shall be derived from the state budget and included in estimates of state budget expenditures allocated to Natural Resources and Environment Agencies in accordance with regulations of the Law on state budget of Vietnam.

- Charges for granting mining right shall be included in deductible expenses when determining income subject to corporate income tax by dividing total charge payable divided by number of licensed mining years. Conditions for deductible expenses must be satisfied in accordance with regulations of the Law on corporate income tax.

View more details at Decree No. 67/2019/NĐ-CP of Vietnam’s Government, effective from September 15, 2019.

Thu Ba

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