When is the conversion factor Kqđ equal to 1 (Kqđ = 1) applied in Vietnam?

18:04, 11/07/2024

Circular 38/2017/TT-BTNMT has been promulgated by the Ministry of Natural Resources and Environment of Vietnam stipulating the method of converting from the resource tax calculation price to determine the calculation price for granting mineral extraction rights.

Circular 38 stipulates that the conversion coefficient Kqđ is set to 1 (Kqđ = 1) and is applied in the following cases in Vietnam:

- The resource tax calculation price issued by the provincial People's Committee has a price level for raw minerals.

Example: block stone for paving; types of mineral water; clean coal in raw form; raw kaolin.

- The resource tax calculation price issued by the provincial People's Committee has a price level according to the corresponding metal ore reserves as stated in the Mineral Exploitation License for metal ore.

Note: The method of determining the price for calculating the right to mineral exploitation fee for this case is specifically stipulated in point a clause 1 Article 6 of Circular 38.

Refer to detailed regulations at Circular 38/2017/TT-BTNMT, effective from November 30, 2017.

- Thanh Lam -

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