Vietnam: Basis for severance tax calculation according to Circular No. 152/2015/TT-BTC

17:21, 06/10/2015

This is a notable content specified in Circular No. 152/2015/TT-BTC providing guidance on severance tax that was issued on October 02, 2015 by the Ministry of Finance of Vietnam.

According to Circular No. 152/2015/TT-BTC of the Ministry of Finance of Vietnam, the basis for severance tax calculation is specified as follows:

- The basis for calculation of severance tax is the taxable extraction quantity of natural resources, unit price, and tax rate.

- Severance tax payable in the period:

Severance tax payable in the period

Taxable extraction quantity of natural resources

Unit price

Tax rate

In case an authority imposes a certain amount of severance tax on a unit of natural resources extracted, severance tax is calculated as follows:

Severance tax payable in the period

Taxable extraction quantity

Severance tax on a unit of natural resources extracted

Note: Imposition of severance tax must be based on the database of tax authorities and conform to regulations on tax imposition.

View relevant provisions at Circular No. 152/2015/TT-BTC of the Ministry of Finance of Vietnam, effective from November 20, 2015.

- Thu Ba -

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

7 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn