Circular No. 45/2017/TT-BTC stipulates the framework for remuneration of auction services as provided for in the Auction Law.

CIRCULAR

Providing the framework for remuneration of auction services as stipulated in the Auction Law

Pursuant to the Law on Auctioning Assets No. 01/2016/QH14 dated November 17, 2016;

Pursuant to the Price Law No. 11/2012/QH12 dated June 20, 2012;

Pursuant to Decree No. 177/2013/NĐ-CP dated November 14, 2013 and Decree No. 149/2016/NĐ-CP dated November 11, 2016 of the Government amending and supplementing certain articles of Decree No. 177/2013/NĐ-CP dated November 14, 2013 of the Government detailing and guiding the implementation of certain provisions of the Price Law;

Decree No. 215/2013/NĐ-CP dated 23rd 12 years 2013 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

"a) State agencies, organizations, and individuals owning power plants operating within the territory of the Socialist Republic of Vietnam connected to the national power grid, except strategic multi-purpose hydropower plants, small renewable energy power plants applying the avoided cost tariff, power plants and units providing ancillary services, independently invested energy storage systems, and power plants applying the electricity purchase price mechanism as stipulated in relevant authorized documents;" Article 24Price management,

The Minister of Finance issues this Circular providing the framework for remuneration of auction assets services as stipulated in the đAuction Law.

Article 1. Scope of Regulation

This Circular provides the framework for remuneration of auction services as stipulated in Clause 1, Article 66 of the Auction Law.

Article 2. Applicability

The objects subject to this Circular include:

1. The person with the property subject to auction as stipulated in Clause 5, Article 5 of the Auction Law when conducting an auction of property as stipulated in Clause 1, Article 4 of the Auction Law, except for cases where the auction of property is conducted by the Asset Auction Council established by the competent authority.

2. An organization conducting auctions as stipulated in Clause 12, Article 5 of the Auction Law.

3. Other organizations and individuals related to the case of auction of property as stipulated in Clause 1, Article 4 of the Auction Law.

Article 3. Framework for remuneration of auction services

1. The framework for remuneration of auction services for one Auction Service Contract in the event of a successful auction is as follows:

a) Minimum remuneration level: VND 1,000,000 per one Contract (One million dong per one Contract);

b) Maximum remuneration level corresponding to each price range of the asset based on the initial price is provided in the Appendix attached hereto but shall not exceed VND 300,000,000 per one Contract (Three hundred million dong per one Contract).

2. The remuneration for auction services as stipulated in Clause 1 of this Article does not include value-added tax but includes reasonable and legitimate costs paid by the person with the property subject to auction to the auction organization to conduct the auction of property as prescribed.

3. In the case of an unsuccessful auction, the person with the property subject to auction shall pay to the auction organization the actual reasonable and legitimate costs agreed upon in the Auction Service Contract in accordance with Clause 2, Article 66 of the Auction Law but shall not exceed the maximum remuneration for auction services in the case of a successful auction.

4. Determination of remuneration for auction services and specific auction costs for each Auction Service Contract shall be agreed upon between the person with the property subject to auction and the auction organization in the Auction Service Contract based on the results of selecting the auction organization and the provisions on remuneration for auction services in the Auction Law but shall not exceed the maximum level and shall not be lower than the minimum level of the remuneration framework stipulated in Clause 1 of this Article.

5. Within twenty working days from the date of conclusion of a successful auction or an unsuccessful auction, the person with the property subject to auction shall pay to the auction organization the remuneration for auction services or other actual reasonable costs such as listing and public announcement fees as stipulated in Clause 2, Article 66 of the Auction Law; except where the parties have agreed otherwise or where there are other legal provisions.

Article 4. Management and use of auction service fees

1. The management and use of auction service fees, auction costs, service costs, and other revenues of auction organizations shall be governed by Article 68 of the Auction Law.

2. Auction organizations must publicly list auction service fees, disclose auction service fees according to each location where the auction takes place; comply with the provisions of the law on prices, the law on auctioning assets, and related guiding legal documents.

3. Auction organizations shall use service supply invoices in accordance with Decree No. 51/2010/ND-CP dated May 14, 2010 of the Government on sales invoices and service supply invoices; Decree No. 04/2014/ND-CP dated January 17, 2014 of the Government amending and supplementing certain articles of Decree No. 51/2010/ND-CP dated May 14, 2010 of the Government on sales invoices and service supply invoices; Circular No. 39/2014/TT-BTC dated March 31, 2014 of the Minister of Finance guiding the implementation of Decree No. 51/2010/ND-CP dated May 14, 2010 and Decree No. 04/2014/ND-CP dated January 17, 2014 of the Government on sales invoices and service supply invoices, and any replacement or amended documents (if applicable).

State-owned enterprises that have been assigned by the Ministry of Agriculture and Rural Development to conduct offshore wind power project surveys before the effective date of this Circular shall continue to implement according to the assigned documents; any new matters arising after the effective date of this Circular shall be implemented in accordance with the provisions of this Circular.

This Circular takes effect from July 1, 2017; this Circular replaces Circular No. 335/2016/TT-BTC dated December 27, 2016 of the Minister of Finance on the collection rates, collection, payment, management, and use of auction asset fees and participation in auction fees; abolishes Article 13 of Circular No. 48/2012/TT-BTC dated March 16, 2012 of the Minister of Finance guiding the determination of initial prices and financial systems in land auction activities for land allocation with land use fees or land leasing.

2. During the process of implementation, if there are any difficulties, organizations and individuals are requested to promptly report them to the Ministry of Finance for consideration and guidance./.