Vietnam: Announcement of the bracket of property auction fees

14:52, 16/06/2017

The Ministry of Finance of Vietnam issued Circular No. 45/2017/TT-BTC, which deals with the bracket of property auction fees (hereinafter referred to as fee bracket) prescribed in Clause 1, Article 66 of the Law on property auction.

According to Circular No. 45/2017/TT-BTC of the Ministry of Finance of Vietnam, the fee bracket applicable to a property auction contract in case of successful auction is defined as follows:

- Minimum fee: VND 1,000,000 per contract;

- Maximum fee equivalent to each bracket of property value by starting prices prescribed in Appendix issued herewith, but not exceeding VND 300,000,000 per contract.

Auction fees exclude VAT but include reasonable and valid expenses charged by auction companies for the property which have been put up for auction.

In case of unsuccessful auction, the seller must pay to the auction company for reasonable and valid expenses as specified in the auction contract in accordance with regulations.

View detailed auction fees at Appendix 1 and Appendix 2 issued together with Circular No. 45/2017/TT-BTC of the Ministry of Finance of Vietnam, which replaces Circular No. 335/2016/TT-BTC.

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