This Decree stipulates the collection of additional revenue from the profit oil share of oil contractors when crude oil prices increase, applicable from January 1, 2010. The progressive rate of additional revenue and specific calculation conditions are clearly stated.
适用范围
Oil contractor
要点
- Oil contractor → must calculate additional revenue when the average price of crude oil sold in the actual quarter increases by more than 20% over the base price of the corresponding year.
- The volume of profit oil share allocated to the quarter of the oil contractor → applies a progressive additional revenue rate: 50% when the fluctuation is between 20%-50%, and 60% when the fluctuation exceeds 50%. The amount of additional revenue is calculated based on a specific formula.
- Encouraged oil and gas projects → the additional revenue rate is 30% applied when the average price of crude oil sold in the actual quarter increases by more than 20% over the base price of the corresponding year. In special cases, the Ministry of Finance shall submit to the Prime Minister for a decision to exempt the collection of additional revenue.
- Oil contracts signed or not yet signed but approved by the Prime Minister before the date of this Decree → are not subject to the collection of additional revenue as prescribed in this Decree.
- The Ministry of Finance → shall guide the implementation of this Decree, and the Ministry of Industry and Trade shall submit to the Government for amendments to the model contract of the product sharing contract.
🌐 本文件的社会影响
- Positive impact: Helps balance interests between contractors and the State when crude oil prices fluctuate, ensuring stable income for the State.
- Negative impact: May impose financial burdens on contractors if crude oil prices rise sharply.
❓ 常见问题
What is the rate of additional revenue?
Progressive rate of additional revenue: 50% when the fluctuation is between 20%-50%, and 60% when the fluctuation exceeds 50%. For encouraged oil and gas projects, the additional revenue rate is 30%.
When is additional revenue collected?
The calculation of additional revenue is applied when the average price of crude oil sold in the actual quarter increases by more than 20% over the base price of the corresponding year.
Must oil contractors calculate additional revenue?
Yes, oil contractors must calculate additional revenue when they meet the conditions regarding fluctuations in crude oil prices as prescribed.
Are contracts signed before the Decree affected?
Additional revenue is not applied to oil contracts that have been signed or not yet signed but approved by the Prime Minister before the date of this Decree.
What will the Ministry of Finance do to guide the implementation of the Decree?
The Ministry of Finance shall guide the implementation of this Decree, and the Ministry of Industry and Trade shall submit to the Government for amendments to the model contract of the product sharing contract.
全文
|
THE GOVERNMENT |
SOCIALIST REPUBLIC OF VIET NAM |
|
Number: 100/2009/NĐ-CP |
Hanoi, November 3, 2009 |
DECREE
Regulations on Additional Revenue Collection for the Share of Profit Oil Distributed to Contractors when Crude Oil Prices Increase
THE GOVERNMENT
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to the opinions of the Standing Committee of the National Assembly in Document No. 255/UBTVQH12 dated July 22, 2009;
Considering the proposal of the Minister of Finance,
DECREE
Article 1. Scope of Regulation
This Decree stipulates the collection of additional revenue for the share of profit oil distributed to contractors (hereinafter referred to collectively as contractors) when crude oil prices increase.
Article 2. Conditions for Calculating Additional Revenue
The calculation of additional revenue prescribed in this Decree shall be applied when the average selling price of crude oil in a quarter actually increases by more than 20% compared to the base price of the corresponding year.
Article 3. Rate and Method of Calculating Additional Revenue
The progressive rate and method of calculating additional revenue shall be as follows:
1. A rate of 50% shall apply to the quarterly share of profit oil distributed to contractors when the average selling price of crude oil in a quarter actually increases by more than 20% but not exceeding 50% compared to the base price of the corresponding year, calculated according to the following formula:
|
Additional revenue rate |
= 50% x |
Average selling price of crude oil in the quarter |
- 1.2 x |
Base price of the corresponding year |
x |
Quarterly share of profit oil distributed to contractors |
Where:
a. The average selling price of crude oil in the quarter is the price calculated by the contractor based on actual daily sales statistics of each quarter, with a maximum of 150% of the base price of the corresponding year.
b. The base price of the corresponding year is the forecasted price in the approved field development plan corresponding to the year of implementation.
2. A rate of 60% shall apply to the quarterly share of profit oil distributed to contractors when the average selling price of crude oil in a quarter actually increases by more than 50% compared to the base price of the corresponding year, calculated according to the following formula:
|
Additional revenue rate |
= 60% x |
Average selling price of crude oil in the quarter |
- 1.5 x |
Base price of the corresponding year |
x |
Quarterly share of profit oil distributed to contractors |
Where:
a. The average selling price of crude oil in the quarter is the price calculated by the contractor based on actual daily sales statistics of each quarter, exceeding 150% of the base price of the corresponding year.
b. The base price of the corresponding year is the forecasted price in the approved field development plan corresponding to the year of implementation.
Article 4. Preferential Exemptions and Reductions of Additional Revenue
1. For encouraged investment oil and gas projects, the additional revenue rate is 30% applied to the quarterly share of profit oil distributed to contractors when the average selling price of crude oil in a quarter actually increases by more than 20% compared to the base price of the corresponding year, calculated according to the following formula:
|
Additional revenue rate |
= 30% x |
Average selling price of crude oil in the quarter |
- 1.2 x |
Base price of the corresponding year |
x |
Quarterly share of profit oil distributed to contractors |
Where:
a. The average selling price of crude oil in the quarter is the price calculated by the contractor based on actual daily sales statistics of each quarter.
b. The base price of the corresponding year is the forecasted price in the approved field development plan corresponding to the year of implementation.
2. In special cases requiring higher encouragement for investment, the Ministry of Finance shall submit to the Prime Minister for a decision to exempt additional revenue for specific cases.
Article 5. Effective Date
Article 5. Effective Date
1. This Decree takes effect from January 1, 2010.
2. For oil and gas contracts that have been signed or have not yet been signed but have been approved by the Prime Minister before the effective date of this Decree, the provisions of this Decree regarding additional revenue shall not be applied.
1. The Ministry of Finance shall provide guidance on the implementation of this Decree.
Article 6. Implementation Guidance
3. Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairpersons of provincial People's Committees directly under the Central Government are responsible for implementing this Decree./.
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Place of Receipt: |
PRIME MINISTER |
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