Circular No. 174/2016/TT-BTC dated October 28, 2016 of the Ministry of Finance on amending and supplementing point a Clause 4 Article 6 of Circular No. 152/2015/TT-BTC dated October 02, 2015 by the Ministry of Finance providing guidance on resource royalty

THE MINISTRY OF FINANCE

Circular No.174/2016/TT-BTCdated October 28, 2016 of the Ministry of Finance on amending and supplementing point a Clause 4 Article 6 of Circular No.152/2015/TT-BTCdated October 02, 2015 bythe Ministry of Financeproviding guidance on resource royalty

Pursuant tothe Law onResource royalty No.45/2009/QH12dated November 25, 2009;

Pursuant tothe Law on MineralNo.60/2010/QH12dated November 17, 2010;

Pursuant tothe Law on Tax administrationNo.78/2006/QH11dated November 29, 2006;Law on amendments toa number of articles ofthe Law on Tax administrationNo.21/2012/QH13dated November 20, 2012;

Pursuant to theResolutionNo.1084/2015/UBTVQH13dated December 10, 2015 bythe Standing committee of the National Assembly of the Socialist Republic of Vietnamon promulgation of the Resource royalty schedule;

Pursuant toLaw on amendments toa number of articles of Laws on tax No.71/2014/QH13dated November 26, 2014;

Pursuant tothe Decree No. 83/2013/ND-CPdated July 22, 2013 by the Governmentdetailing the implementationof a number of articles ofthe Law on Tax administrationandLaw on amendments to the Law on Tax administration;

Pursuant to the Decree No.50/2010/ND-CPdated May 14, 2010 by the Governmentproviding guidance on the implementation ofa number of articles ofthe Law onResource royalty;

Pursuant to the Decree No.12/2015/ND-CPdated February 12, 2015 by the Government guiding the implementation ofLaw on amendments toLaws on tax and amending and supplementing a number of articles of Decrees on tax;

Pursuant to Decree No. 215/2013/ND-CP dated December 23, 2013 by the Government defining the functions, tasks, entitlements and organizational structure of the Ministry of Finance;

At the request of the Director of the General Department of Taxation;

The Minister of Financehereby promulgates the Circular amending and supplementing point a Clause 4 Article 6 of Circular No.152/2015/TT-BTCdated October 02, 2015 bythe Ministry of Financeproviding guidance on resource royalty as follows:

Article 1.To amendPoint a Clause 4 Article 6 of Circular No.152/2015/TT-BTC dated October 02, 2015 bythe Ministry of Financeproviding guidance on severance taxas follows:

“a) Taxable price of natural water used for hydroelectricity generation is the average selling price of electricity.

Average selling price of electricity for calculating the resource royalty payable byhydroelectricity producersshall be determined according to theretailprice of electricity defined bythe Ministry of Industry and Trade.”

Article 2.

This Decreetakes effect onDecember 12, 2016.

Any difficultiesarising in the course ofimplementation of this Circular should be reported to the Ministry of Finance forpromptsolution./.

For the Minister

The Deputy Minister

Do Hoang Anh Tuan