New Text Notification

Vietnam: Property auction fees and fees to be paid by bidders

14:07, 21/01/2017

According to Circular No. 335/2016/TT-BTC of the Ministry of Finance of Vietnam prescribing the property auction fees, collection, transfer, management and use thereof, organizations and individuals whose property is sold at auction, as stated in regulations in Decree No. 17/2010/ND-CP of Vietnam’s Government, shall pay the property auction fees.

Depending on the value of the property sold at an auction or the starting price of the property, there are corresponding fees. To be specific:

- Property auction fees:

+ Property less than VND 50 million: 5 % of the proceeds;

+ Property from VND 50 million to VND 1 billion: VND 2.5 million + 1.5 % of the proceeds in excess of VND 50 million;

- Fees to be paid by bidders:

+ Property not exceeding VND 20 million: VND 50,000/application;

+ Property exceeding VND 20 million but not exceeding VND 50 million: VND 100,000/application.

Circular No. 335/2016/TT-BTC of the Ministry of Finance of Vietnam comes into force from February 12, 2017 to July 01, 2017.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

12 lượt xem

- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn