The
Vietnamese Ministry of Finance has issued Circular No 03/2012/TT-BTC ruling
that the fees on auction participation and granting of auction certifications
will take effect from March 1, 2012.
Accordingly, in case an auction is successful,
the fee will be based on value of sold assets of that auction.
In details, the sold asset of an auction is
valued at below 50 million dong; the auction fee will be 5% of that asset
value. The asset is worth 50 million dong to one billion dong, the fee will be
2.5 million dong plus 1.5% of that asset sold at over 50 million dong.
For the asset worth of more than 1 billion
dong to 10 billion dong, the fee will be 16.75 million dong plus 0.2% of that
asset sold at over 1 billion dong.
For the assets worth of 10-20 billion dong,
the fee will be 34.75 million dong plus 0.15% of that asset sold at more than
10 billion dong.
For the asset worth of more than 20 billion
dong, the fee will be 49.75 million dong plus 0.1% of that asset sold at over
20 billion dong but total fee is not allowed to surpass 300 million dong per
auction.
In case an auction is unsuccessful, those who
have assets for auction and financial agencies will have to pay real costs to
auction organizers and asset auction council within 7 days from the end of
auction pursuant to Article 43 Decree No 17/2010/ND-CP, except the auction
participants have private agreement or there is a respective regulation.
Fee of auction participation is regulated
respectively to starting price of assets being auctioned. Starting price of
auctioned asset at less than 20 million dong will be subject to the application
fee of 50,000 dong each.
Initial price of auction asset at 20-50
million dong will be subject to the participation application fee of 100,000
dong each.
Application fee on the initial price of
auction asset at 50-100 million dong, 100-500 million dong, and 500 million
dong will be 150,000 dong; 200,000 dong, and 500,000 dong each, respectively.
Depending on particular features and
conditions of localities, municipal governances are able to define auction fee
and asset auction participation fee suitably but no more than the ruled level
in this decree.
In addition, the fee on granting asset auction
certification is 200,000 dong per time, which on re-granting is 100,000 dong.
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