Vietnam: Inclusions in investment counseling costs from February 15, 2020

16:19, 28/12/2019

On December 26, 2019, the Ministry of Construction of Vietnam officially issued Circular No. 16/2019/TT-BXD providing instructions on determination of project administrative and investment counseling costs.

According to Article 7 of Circular No. 16/2019/TT-BXD of the Ministry of Construction of Vietnam, investment counseling costs calculated and determined according to norms of investment counseling costs shall serve as a basis for determining costs incurred from consulting activities, including:

chi phi tu van dau tu xay dung, Thong tu 16/2019/TT-BXD

- Payments to consulting workers (e.g. wages, salaries, salary allowances, bonuses, welfare benefits for the collective, social insurance, health insurance, unemployment insurance contributions, trade union dues or other payments prescribed in laws to persons performing consulting duties in projects);

- Costs of application of scientific and technological research products;

- Payments for public services, stationery supplies or telecommunication costs;

- Costs of hiring, repair or purchase of assets necessary for project counseling activities (if any); administrative costs determined by consulting organizations;

- Other costs;

- Accrued taxable profits; but not including costs of application of BIM system, VAT and contingency costs.

View full text at Circular No. 16/2019/TT-BXD of the Ministry of Construction of Vietnam, effective from February 15, 2020.

Thu Ba

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