Severance tax-liable objects according to Vietnam’s current regulations

11:35, 07/07/2016

On November 25, 2009, the National Assembly of Vietnam approved the Law on Severance tax 2009, which provides for severance tax-liable objects, severance tax payers, severance tax bases, and severance tax declaration, payment, exemption and reduction.

According to Article 2 of the Law on Severance tax 2009 of Vietnam and Article 2 of Circular No. 152/2015/TT-BTC of the Ministry of Finance of Vietnam, the severance tax-liable objects are natural resources within the land, islands, internal waters, territorial sea, contiguous zones, exclusive economic zone, and continental shelves under the sovereignty and jurisdiction of Socialist Republic of Vietnam, including:

One, metallic minerals.

Two, non-metallic minerals.

Three, products of natural forests, including plants and other products of natural forests other than animals, anise, cinnamon, cardamom planted by taxpayers within the area of natural forests they are given to cultivate and protect.

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Four, natural aquatic organisms, including marine animals and plants.

Five, natural water, including: surface water and groundwater other than natural water used for agriculture, forestry, aquaculture, salt production, and seawater used for cooling machines.

Six, natural bird’s nests other than those collected from construction of houses to attract and raise natural swifts to collect their nest.

Seven, the Ministry of Finance shall cooperate with relevant Ministries and agencies in reporting other natural resources to the Government.

View more details in Law on Severance tax 2009 of Vietnam effective from July 01, 2010 and Circular No. 152/2015/TT-BTC of the Ministry of Finance of Vietnam effective from November 20, 2015.

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