The Government issued decree No 50/2010/ND-CP on May 14, including regulations pursuant to the Law on Natural Resources Taxation.
Under the decree, in those cases in which the quantity of assessable natural resources output cannot be determined under Vietnamese measurement standards, the quantity shall be set by a fixed estimation.
The new regulations also detail how to determine taxable prices in some specific instances. The taxable price of timber, for example, shall be the selling price at the timber yard or logging site. The taxable price of any exploited natural resources sold in Vietnam shall be the price before VAT, and that of exported resources the free-on-board (FOB) export price.
The decree takes effect on July 1 and replaces Decree No 05/2009/ND-CP of January 19, 2009, providing detailed regulations and guidelines on the amended Ordinance on Natural Resources Taxation and its amending ordinance./.
Under the decree, in those cases in which the quantity of assessable natural resources output cannot be determined under Vietnamese measurement standards, the quantity shall be set by a fixed estimation.
The new regulations also detail how to determine taxable prices in some specific instances. The taxable price of timber, for example, shall be the selling price at the timber yard or logging site. The taxable price of any exploited natural resources sold in Vietnam shall be the price before VAT, and that of exported resources the free-on-board (FOB) export price.
The decree takes effect on July 1 and replaces Decree No 05/2009/ND-CP of January 19, 2009, providing detailed regulations and guidelines on the amended Ordinance on Natural Resources Taxation and its amending ordinance./.
