Method of Calculating Registration Fee for Used Assets

Le Hai

20:28, 10/07/2024

The Ministry of Finance has just issued Circular 20/2019/TT-BTC amending and supplementing certain Articles of Circular 301/2016/TT-BTC providing guidelines on registration fees.

For assets that have been used (except for houses, land, and used assets that are imported and registered for ownership for the first time), the registration fee is calculated based on the remaining value of the asset according to its usage time.

The remaining value of the asset is equal to the value of a new asset multiplied by (x) the percentage of the remaining quality of the asset, wherein:

- The value of a new asset is determined according to Clause 2 Article 6 of Decree 140/2016/ND-CP as amended and supplemented in Clause 1 Article 1 of Decree 20/2019/ND-CP and Point b Clause 3 of Circular 301/2016/TT-BTC (amended at Circular 20/2019/TT-BTC);- The percentage of the remaining quality of the asset is determined as 100% for new assets, 90% if used within 1 year, 70% if used for 1 - 3 years, 50% if used for 3 - 6 years, 30% if used for 6 - 10 years, and 20% if used for more than 10 years.

More details can be found in Circular 20/2019/TT-BTC which takes effect from June 1, 2019.

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