Latest severance tax rates in Vietnam

Latest severance tax rates in Vietnam
Lê Trương Quốc Đạt

What are the severance tax rates under the latest regulations in Vietnam? - Tu Vy (Hau Giang)

Latest severance tax rates in Vietnam

Latest severance tax rates in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Latest severance tax rates in Vietnam

The severance tax rates according to Article 7 of the Law on Severance tax 2009 are as follows:

- The frame severance tax tariff is specified below:

No.

Group or category of natural resource

Severance tax rate (%)

I

Metallic minerals

 

1

Iron and manganese

7-20

2

Titan

7-20

3

Gold

9-25

4

Rare earths

12-25

5

Platinum, silver and tin

7-25

6

Wolfram and antimony

7-25

7

Lead, zinc, aluminum, bauxite, copper and nickel

7-25

8

Cobalt, molybdenum, mercury, magnesium and vanadium

7-25

9

Other metallic minerals

5-25

II

Non-metallic minerals

 

1

Soil exploited for ground leveling and work construction

3-10

2

Rock, except rock used for lime baking and cement production; gravel; sand, except sand used for glass-making

5-15

3

Soil used for brick-making

5-15

4

Granite and refractory clay

7-20

5

Dolomite and quartzite

7-20

6

Kaolin, mica, technical quartz, and sand used for glass-making

7-15

7

Pyrite, phosphorite, and stone for lime baking and cement production

5-15

8

Apatite and serpentine

3-10

9

Pit anthracite coal

4-20

10

Open-cast anthracite coal

6-20

11

Lignite and fat coal

6-20

12

Other coals

4-20

13

Diamond, ruby and sapphire

16-30

14

Emerald, alexandrite and black precious opal

16-30

15

Adrite, rodolite, pyrope, berine. Spinel and topaz

12-25

16

Bluish-purple, greenish-yellow or orange crystalline quartz; chrysolite; white or scarlet precious opal; feldspar; birusa; and nephrite

12-25

17

Other non-metallic minerals

4-25

III

Crude oil

6-40

IV

Natural gas and coal gas

1-30

V

Natural forest products

 

1

Timber of group I

25-35

2

Timber of group II

20-30

3

Timber of groups III and IV

15-20

4

Timber of groups V, VI, VII and VIII and of other categories

10-15

5

Tree branches, tops, stumps and roots

10-20

6

Firewood

1-5

7

Bamboo of all kinds

10-15

8

Sandalwood and calambac

25-30

9

Anise, cinnamon, cardamom and liquorice

10-15

10

Other natural forest products

5-15

 

Natural aquatic resources

 

1

Pearl, abalone and sea-cucumber

6-10

2

Other natural aquatic resources

1-5

VII

Natural water

 

1

Natural mineral water, natural thermal water and refined natural water, bottled or tinned

8-10

2

Natural water used for hydropower generation

2-5

3

Natural water used for production and business activities, except water mentioned at Points 1 and 2 of this group

 

3.1

.Surface water

1-3

3.2

Groundwater

3-8

VIII

Natural swallow's nests

10-20

IX

Other resources

1-20

- Specific severance tax rates for crude oil. natural gas and coal gas shall be determined as partially progressive based on their daily exploited average output.

- Pursuant to Clauses 1 and 2 of Article 7 of the Law on Severance tax 2009, the National Assembly Standing Committee shall stipulate specific severance tax rates for each category of natural resource in each period on the following principles:

+ Ensuring conformity with the list of groups and categories of natural resource and within the severance tax rate bracket prescribed by the National Assembly:

+ Contributing to the state management of natural resources; protection, exploitation and rational, economical and effective use of natural resources:

+ Contributing to assuring state budget revenues and market stabilization.

2. Regulations on natural resource output used for severance tax calculation

Regulations on natural resource output used for severance tax calculation according to Article 5 of the Law on Severance tax 2009 are as follows:

- For an exploited natural resource the quantity, weight or volume of which can be determined, the natural resource output used for royally calculation is the quantity, weight or volume of natural resource actually exploited in a severance tax period.

- For an exploited natural resource the quantity, weight or volume of which cannot be determined because this natural resource contains different substances and impurities, the natural resource output used for severance tax calculation shall be determined based on the quantity, weight or volume of each substance obtained from sorting and classification.

- For natural resources which are not sold but used for turning out other products, if their actually exploited quantity, weight or volume cannot be directly determined, the natural resource output used for severance tax calculation shall be determined based on the output of products turned out in a severance tax period and the use norm of natural resource per unit of product.

- For natural water used for hydropower generation, the natural resource output used for severance tax calculation is the output of electricity sold by a hydropower generation establishment to an electricity buyer under an electricity purchase and sale contract or the output of delivered electricity, in case such contract is unavailable, which is determined according to the metering system up to Vietnam's measurement and quality standards, certified by the purchaser and seller or the deliverer and recipient.

- For natural mineral water, natural thermal water and natural water used for industrial purposes, the natural resource output used for severance tax calculation shall be determined in cubic meter On1) or liter (I) according to the metering system up to Vietnam's measurement and quality standards.

- For natural resources exploited on a manual, scattered or mobile, irregular basis, if the planned output of exploited natural resources in a year is valued at under VNI) 200 million, a fixed output of exploited natural resources may be determined on a regular or seasonal basis for severance tax calculation. Tax offices shall coordinate with local concerned agencies in determining the fixed output of exploited natural resources for severance tax calculation.

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