Circular 41/2024/TT-BTC amend Circular 44/2017/TT-BTC and Circular 152/2015/TT-BTC guiding royalties

CIRCULAR

Amending, supplementing a number of articles of the Minister of Finance’s Circular No.44/2017/TT-BTC dated May 12, 2017 on defining the royalty-liable price brackets for groups, categories of natural resources with the same physical and chemical properties and the Minister of Finance’s Circular No. 152/2015/TT-BTC dated February 10, 2015 on guiding royalties

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Pursuant to the Law on Royalties dated November 25, 2009;

Pursuant to the Government’s Decree No. 50/2010/ND-CP dated May 14, 2010 detailing and guiding a number of articles of the Law on Royalties;

Pursuant to the Government’s Decree No. 12/2015/ND-CP dated February 12, 2015 detailing the implementation of the Law Amending and Supplementing a Number of Articles of the Tax Laws and amending and supplementing a number of articles of the decrees on taxes;

Pursuant to the Government’s Decree No. 14/2023/ND-CP dated April 20, 2023 defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

At the proposal of the Director General of Taxation;

The Minister of Finance promulgates the Circular amending, supplementing a number of articles of the Minister of Finance’s Circular No. 44/2017/TT-BTC dated May 12, 2017 on defining the royalty-liable price brackets for groups, categories of natural resources with the same physical and chemical properties and the Minister of Finance’s Circular No. 152/2015/TT-BTC dated February 10, 2015 on guiding royalties.

Article 1. Amending, supplementing Article 6 of the Minister of Finance’s Circular No. 44/2017/TT-BTC dated May 12, 2017 on defining the royalty-liable price brackets for groups, categories of natural resources with the same physical and chemical properties

“Article 6. Adjustment and supplementation of the loyalty-liable price brackets

1. Cases of adjustment and supplementation of the loyalty-liable price brackets:

a) Common natural resource prices in the market decrease by more than 20% compared to the minimum price of the Loyalty-liable price brackets;

b) Common natural resource prices in the market increase by more than 20% compared to the maximum price of the Loyalty-liable price brackets;

c) New categories of natural resources have not been regulated in the Loyalty-liable price brackets.

2. In case the common natural resource prices in the market decrease by more than 20% compared to the minimum price of the Loyalty-liable price brackets, the Provincial-level People's Committee shall send documents to the Ministry of Finance to provide information enclosed with specific proposals, dossiers and explanatory plans as a basis for considering the adjustment of the Loyalty-liable price brackets, the Provincial-level People's Committee shall only promulgate the Loyalty-liable price schedules or documents stipulating the adjustment of the Loyalty-liable price schedules after the Ministry of Finance adjusts the Loyalty-liable price brackets.

3. In case the common prices of natural resources in the market fluctuate lower but not more than 20% of the minimum price or higher but not more than 20% of the maximum royalty-liable price brackets, the Department of Finance shall assume the prime responsibility for, and coordinate with concerned agencies in, determining and submitting to the Provincial-level People's Committee for promulgating the royalty-liable price schedules or a regulatory document adjusting the Royalty-liable price schedules.

4. In case the common prices of natural resources in the market fluctuate higher than 20% of maximum royalty-liable price brackets, the Department of Finance shall assume the prime responsibility for, and coordinate with concerned agencies in, determining and submitting to the Provincial-level People's Committee for promulgating the royalty-liable price schedules or a regulatory document adjusting the Royalty-liable price schedules. After promulgating the Royalty-liable price schedules or the document stipulating the adjustment of Royalty-liable price schedules, the Provincial-level People's Committee shall send a document to the Ministry of Finance to provide information enclosed with specific proposals, dossiers and explanation plans as a basis for considering the adjustment of the Royalty-liable price brackets.

5. In case of  having new categories of natural resources that have not been specified in the Loyalty-liable price brackets, the Department of Finance shall assume the prime responsibility for, and coordinate with concerned agencies, based on the common transaction prices in the market or the selling prices of those resources in the market, determining and submitting to the Provincial-level People's Committee for promulgating the royalty-liable price schedules or a  document supplementing the Royalty-liable price schedules of these categories of natural resources. After promulgating the Royalty-liable price schedules or the document supplementing the Royalty-liable price schedules, the Provincial-level People's Committee shall send a document to the Ministry of Finance to provide information enclosed with specific proposals, dossiers and explanation plans as a basis for considering the supplementation of the Royalty-liable price brackets.”

Article 2. Amending, supplementing a number of articles of the Minister of Finance’s Circular No. 152/2015/TT-BTC dated February 10, 2015 on guiding royalties

1. To annul Clause 5.2 of Article 6.

2. To amend Clause 5.3 of Article 6 as follows:

“The Department of Finance shall assume the prime responsibility for, and coordinate with concerned agencies in, determining and submitting to the Provincial-level People's Committee for promulgating the Royalty-liable price schedules no later than December 31 of each year to announce the effect from January 1 of the next preceding year.

No later than 30 days from the date the Provincial-level People's Committee promulgates the royalty-liable price schedules or a document adjusting or supplementing the Royalty-liable price schedules, the Department of Finance shall provide information and send document to the Ministry of Finance (General Department of Taxation) to update the Royalty-liable price database.”

3. To amend Point a, Clause 1, Article 13 as follows:

“1. The provincial-level People's Committee is responsible for:

a) Instructing the Department of Finance to assume the prime responsibility for, and coordinate with concerned agencies in, building the royalty-liable price schedules applicable in the locality; Regularly reviewing and adjusting in accordance with market fluctuations."

Article 3. Implementation provisions

1. This Circular takes effect from July 15, 2024.

2. In the course of implementation, if there are any problems, the Provincial-level People's Committee, organizations and individuals are requested to report to the Ministry of Finance for study and settlement./.