New Text Notification

Amending the construction cost of construction cost estimates in Vietnam from February 15, 2020

08:03, 09/01/2020

The Minister of Construction of Vietnam issued Circular No. 09/2019/TT-BXD providing instructions on determination and management of construction investment costs.

According to Circular No. 09/2019/TT-BXD of the Ministry of Construction of Vietnam, construction costs shall be comprised of direct costs, indirect costs, pre-assessed taxable income and value-added taxes, and subject to the following specific regulations:

- Direct costs comprise costs of materials (including materials supplied by project owners/investors), labor costs, machinery and equipment costs.

- Indirect costs comprise overall costs, temporary accommodation and office costs, costs related to works with quantities which cannot be identified in designs, expenses for moving special-purpose machines and equipment to and out of the construction site, etc.

- Pre-assessed taxable income (profits of construction enterprises calculated in advance in construction cost estimates).

- Value added taxes regulated by the State.

Currently, according to Circular No. 06/2016/TT-BXD, the constructional costs include the direct costs, general costs, pre-determined taxable income and value added tax.

View more details at Circular No. 09/2019/TT-BXD of the Ministry of Construction of Vietnam, effective from February 15, 2020, replacing Circular No. 06/2016/TT-BXD.

Thu Ba

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