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THE MINISTRY OF FINANCE
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THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No. 108/2020/TT-BTC
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Hanoi, December 21, 2020
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CIRCULAR
ON AMENDMENTS TO CERTAIN ARTICLES OF CIRCULAR NO. 45/2017/TT-BTC DATED MAY 12, 2017 OF MINISTER OF FINANCE ON BRACKET OF PROPERTY AUCTION FEES IN ACCORDANCE WITH THE LAW ON PROPERTY AUCTION
Pursuant to the Law on Property Auction dated November 17, 2016;
Pursuant to the Law on Prices dated June 20, 2012;
Pursuant to the Government's Decree No. 177/2013/ND-CP dated November 14, 2013 and the Government's Decree No. 149/2016/ND-CP dated November 11, 2016 on amendments to the Government's Decree No. 177/2013/ND-CP dated November 14, 2013 on guidelines for the Law on prices;
Pursuant to the Government’s Decree No. 87/2017/ND-CP dated July 26, 2017 defining the functions, tasks, entitlements and organizational structure of the Ministry of Finance;
At the request of the Director of Department of Price management,
The Minister of Finance promulgates a Circular on amendments to certain articles of Circular No. 45/2017/TT-BTC dated May 12, 2017 of Minister of Finance on bracket of property auction fees in accordance with the Law on Property Auction.
Article 1. Amendments to certain articles of Circular No. 45/2017/TT-BTC dated May 12, 2017 of Minister of Finance on bracket of property auction fees in accordance with the Law on Property Auction
1. Article 3 is amended as follows:
“1. Fee bracket applicable to a property auction contract in case of successful auction is defined as follows:
a) Minimum fee: VND 1,000,000 per contract;
b) Maximum fee equivalent to each bracket of property value by starting prices prescribed in Appendix I, II issued herewith, but not exceeding VND 400,000,000 per contract.
2. Auction fees prescribed in Clause 1 of this Article excludes: VAT and the property auction costs as prescribed in clause 2 Article 66 of the Law on Property Auction.
3. In case of unsuccessful auction, the seller must pay to the auction company for the property auction costs as prescribed in clause 2 Article 66 of the Law on Property Auction under the auction contract.
4. The seller shall come into an agreement with an auction company on fee and specific auction expenses and specify it in an auction contract according to the results of auction company selection and regulations on auction fees in accordance with the Law on Property Auction. The seller shall decide the specific auction remuneration within the fee bracket as prescribed by the Ministry of Finance in this Circular but not exceeding the maximum and not less than the minimum of the bracket of asset value by starting price as specified in Appendix I and II issued herewith.
5. Within 20 working days from the date on which the closing day of auction, the seller must pay to the auction company for the fee and the property auction costs as prescribed in clause 2 Article 66 of the Law on Property Auction; unless otherwise agreed upon by the parties or prescribed by law.”
2. Clause 3 Article 4 is amended as follows:
Auction companies shall use service invoices as per the law on invoices.”
3. Supersede Appendix 1, 2 issued together with Circular No. 45/2017/TT-BTC dated May 12, 2017 of Minister of Finance on bracket of property auction fees in accordance with the Law on Property Auction as follows:
a) Supersede Appendix 1 issued together with Circular No. 45/2017/TT-BTC dated May 12, 2017 of Minister of Finance on bracket of property auction fees in accordance with the Law on Property Auction with Appendix I issued herewith.
b) Supersede Appendix 2 issued together with Circular No. 45/2017/TT-BTC dated May 12, 2017 of Minister of Finance on bracket of property auction fees in accordance with the Law on Property Auction with Appendix II issued herewith.
Article 2. Implementation
1. This Circular comes in force as of February 4, 2021.
2. Any auction service contract entered into before the date of entry of this Circular shall keep complying with Circular No. 45/2017/TT-BTC dated May 12, 2017 of Minister of Finance on bracket of property auction fees in accordance with the Law on Property Auction until the contract termination.
3. In a case where any legislative document referred to in this Circular is amended or superseded, the amending or substituting document shall prevail.
4. Difficulties that arise during the implementation of this Circular should be reported to the Ministry of Finance for consideration./.
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PP. MINISTER
DEPUTY MINISTER
Ta Anh Tuan
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APPENDIX I
MAXIMUM AUCTION FEES EQUIVALENT TO BRACKET OF PROPERTY VALUE BY STARTING PRICES OF PROPERTY PRESCRIBED IN CLAUSE 1 ARTICLE 4 OF THE LAW ON PROPERTY AUCTION OTHER THAN THOSE PRESCRIBED IN APPENDIX II
(Issued together with Circular No. 108/2020/TT-BTC dated December 21, 2020 of the Minister of Finance)
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No.
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Value of property (starting price or stated in contract)
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Maximum auction fee
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1
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Less than VND 50 million
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8% of sold property value
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2
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At least VND 50 million to at most VND 100 million
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VND 3.64 million + 7% of difference between hammer price and starting price
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3
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Greater than VND 100 million to at most VND 500 million
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VND 6.82 million + 6% of difference between hammer price and starting price
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4
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Greater than VND 500 million to at most VND 1 billion
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VND 14.18 million + 5% of difference between hammer price and starting price
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5
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Greater than VND 1 billion to at most VND 5 billion
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VND 22.64 million + 4% of difference between hammer price and starting price
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6
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Greater than VND 5 billion to at most VND 10 billion
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VND 32.45 million + 3% of difference between hammer price and starting price
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7
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Greater than VND 10 billion to at most VND 20 billion
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VND 38.41 million + 3% of difference between hammer price and starting price
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8
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Greater than VND 20 billion to at most VND 50 billion
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VND 40.91 million + 3% of difference between hammer price and starting price
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9
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Greater than VND 50 billion to at most VND 100 billion
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VND 50.00 million + 2% of difference between hammer price and starting price
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10
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Greater than VND 100 billion to at most VND 300 billion
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VND 55.00 million + 2% of difference between hammer price and starting price
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11
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Greater than VND 300 billion
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VND 65.00 million + 1% of difference between hammer price and starting price
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Notes: Maximum fee equivalent to each bracket of property value by starting price is VND 400 million per contract.
If an auction contract involves multiple assets and a part thereof is unsuccessfully sold by auction, it is required to determine the percentages (%) of successful bid and unsuccessful bid by starting price for the purpose of determining auction fees to be paid to the auction company as prescribed in Appendix I and Clause 1, Article 1 of this Circular.
For example: Department X is assigned to put up 02 used cars for auction with starting prices of VND 80 million and 120 million respectively, the percentages (%) by starting prices of two cars are 40% and 60% respectively, total value by starting price is VND 200 million. Pursuant to Appendix of this Circular, the maximum fee for which the auction company is eligible to charge: VND 6.82 million + 6% of difference between hammer price and starting price.
Department X publishes a notice of auction company selection. Finally, the auction company A is selected and paid an amount of fee equal to VND 6 million + 6% of difference between hammer price and starting price is registered. The abovementioned registered amount shall be the basis for payment of fee to the auction company A. Then, Department X and the auction company A enter into an auction service contract.
- In case of successful auction of both 2 cars, within 20 days from the auction closing date, the auction company A will be paid: VND 6 million + 6% of difference between hammer price and starting price and the property auction costs as prescribed in clause 2 Article 66 of the Law on Property Auction, which have been already agreed in the contract.
- In case of unsuccessful auction of both 2 cars, within 20 days from the auction closing date, the auction organization A shall be paid for the property auction costs as specified in the auction contract in accordance with Clause 2, Article 66 of the Law on Property Auction, which have been already agreed in the contract.
- In case of successful auction of the car with the starting price of VND 80 million and unsuccessful auction of the other car, within 20 days from the auction closing date, the auction company A will be paid:
+ Auction fee for the car which is successfully auctioned: VND 6 million x 40% + 6 % of difference between hammer price and starting price.
+ The property auction costs as specified in the auction contract in accordance with Clause 2, Article 66 of the Law on Property Auction, which have been already agreed in the contract.
APPENDIX II
MAXIMUM AUCTION FEES EQUIVALENT TO BRACKET OF PROPERTY VALUE BY STARTING PRICES OF PROPERTY PRESCRIBED IN CLAUSE 1 ARTICLE 4 OF THE LAW ON PROPERTY AUCTION BEING LAND USE RIGHTS FOR LAND ALLOCATION WITH LAND LEVIES OR LAND LEASE
(Issued together with Circular No. 108/2020/TT-BTC dated December 21, 2020 of the Minister of Finance)
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No.
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Value of land use right (starting price or stated in contract)
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Maximum auction fee
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1
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At most VND 1 billion
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VND 13.64 million + 1% of difference between hammer price and starting price
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2
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Greater than VND 1 billion to at most VND 5 billion
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VND 22.73 million + 1% of difference between hammer price and starting price
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3
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Greater than VND 5 billion to at most VND 10 billion
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VND 31.82 million + 1% of difference between hammer price and starting price
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4
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Greater than VND 10 billion to at most VND 50 billion
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VND 40.91 million + 1% of difference between hammer price and starting price
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5
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Greater than VND 50 billion to at most VND 100 billion
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VND 50.00 million + 1% of difference between hammer price and starting price
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6
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Greater than VND 100 billion
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VND 59.09 million + 1% of difference between hammer price and starting price
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Notes: Maximum fee equivalent to each bracket of property value by starting price is VND 400 million per contract.
If an auction contract involves multiple assets and a part thereof is unsuccessfully sold by auction, it is required to determine the percentages of successful bid and unsuccessful bid by starting price for the purpose of determining auction fees to be paid to the auction company as prescribed in Appendix II and Clause 1, Article 1 of this Circular.
For example: Land development center of district A is assigned to put up 2 land plots for auction, each land plot has starting price of VND 60 billion, the percentage by starting price of each land plot is 50%. Total starting price is VND 120 billion. Pursuant to Appendix II of this Circular, maximum fee is VND 59.09 million + 1% of difference between hammer price and starting price.
Department X publishes a notice of auction company selection. Finally, the auction company B is selected and paid an amount of fee equal to VND 55 million + 1% of difference between hammer price and starting price is registered. The abovementioned registered amount shall be the basis for payment of fee to the auction company B. Then, the Land development center of district A and the auction company B enter into an auction service contract.
- In case of successful auction of both 2 land plots, within 20 days from the auction closing date, the auction company B will be paid: VND 55 million + 1% of difference between hammer price and starting price and the property auction costs as prescribed in clause 2 Article 66 of the Law on Property Auction, which have been already agreed in the contract.
- In case of unsuccessful auction of both 2 land plots, within 20 days from the auction closing date, the auction organization B shall be paid for the property auction costs as specified in the auction contract in accordance with Clause 2, Article 66 of the Law on Property Auction, which have been already agreed in the contract.
- In case of successful auction for 1 land plot and unsuccessful auction for 1 land plot, within 20 days from the auction closing date, the auction company B will be paid:
+ Auction fee for the land plot which is successfully auctioned: VND 55 million x 50% + 1 % of difference between hammer price and starting price.
+ The property auction costs as specified in the auction contract in accordance with Clause 2, Article 66 of the Law on Property Auction, which have been already agreed in the contract.
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