Circular 174/2016/TT-BTC amending point a, Clause 4, Article 6 of Circular 152/2015/TT-BTC providing guidance on natural resources tax issued by the Minister of Finance

CIRCULAR

AMENDING 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

Pursuant to the Law on Resource royalty No. 45/2009/QH12 dated November 25, 2009;

Pursuant to the Law on Mineral No. 60/2010/QH12 dated November 17, 2010;

Pursuant to the Law on Tax administration No. 78/2006/QH11 dated November 29, 2006; Law on amendments to a number of articles of the Law on Tax administration No. 21/2012/QH13 dated November 20, 2012;

Pursuant to the Resolution No. 1084/2015/UBTVQH13 dated December 10, 2015 by the Standing committee of the National Assembly of the Socialist Republic of Vietnam on promulgation of the Resource royalty schedule;

Pursuant to Law on amendments to a number of articles of Laws on tax No. 71/2014/QH13 dated November 26, 2014;

Pursuant to the Decree No. 83/2013/ND-CP dated July 22, 2013 by the Government detailing the implementation of a number of articles of the Law on Tax administration and Law on amendments to the Law on Tax administration;

Pursuant to the Decree No. 50/2010/ND-CP dated May 14, 2010 by the Government providing guidance on the implementation of a number of articles of the Law on Resource royalty;

Pursuant to the Decree No. 12/2015/ND-CP dated February 12, 2015 by the Government guiding the implementation of Law on amendments to Laws 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 Finance hereby promulgates the Circular 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 as follows:

Article 1. 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 severance tax is amended as 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 by hydroelectricity producers shall be determined according to the retail price of electricity defined by the Ministry of Industry and Trade.”

Article 2.

This Decree comes into force from December 12, 2016.

Difficulties that arise during the implementation of this Circular should be reported to the Ministry of Finance for prompt solution./.

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