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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. 45/2017/TT-BTC
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Hanoi, May 12, 2017
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CIRCULAR
ON BRACKET OF PROPERTY AUCTION FEES IN ACCORDANCE WITH THE LAW ON PROPERTY AUCTION
Pursuant to the Law on property auction No. 01/2016/QH14 dated November 17, 2016;
Pursuant to the Law on prices No. 11/2012/QH12 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. 215/2013/ND-CP dated December 23, 2013 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 bracket of property auction fees in accordance with the Law on property auction.
Article 1. Scope
This Circular deals with on bracket of property auction fees (hereinafter referred to as fee bracket) prescribed in Clause 1, Article 66 of the Law on property auction.
Article 2. Regulated entities
Regulated entities of this Circular include:
1. Sellers who are prescribed in Clause 5 Article 5 of the Law on property auction and put up property for auctions as prescribed in Clause 1, Article 4 of the Law on property auction, except for auctions conducted by a property auction council established by the competent authority.
2. Auction companies (hereinafter referred to as auction companies) prescribed in Clause 12, Article 5 of the Law on property auction.
3. Other organizations and individuals relating to property auction prescribed in Clause 1, Article 4 of the Law on property auction.
Article 3. Fee bracket
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 issued herewith, but not exceeding VND 300,000,000 per contract.
2. Auction fees prescribed in Clause 1 of this Article excludes VAT but includes reasonable and valid expenses charged by auction companies for the property which have been put up for auction as prescribed.
3. In case of unsuccessful auction, the seller must pay to the auction company for reasonable and valid expenses as specified in the auction contract in accordance with Clause 2, Article 66 of the Law on property auction, but not exceeding the amount of auction fee in case of successful auction.
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, but not exceeding the maximum and not less than the minimum of the fee bracket prescribed in Clause 1 of this Article.
5. Within 20 working days from the date on which the closing day of auction, regardless of successful or unsuccessful case, the seller must pay to the auction company for fee or expenses associated with public notices on bulletin board, and other reasonable expenses prescribed in Clause 2, Article 66 of the Law on property auction; unless otherwise agreed upon by the parties or prescribed by law.
Article 4. Management and use of auction fee
1. The management and use of auction fees, expenses associated with property auction, service charges and other amounts receivable of auction companies are prescribed in Article 68 of the Law on property auction.
2. Each auction company must put up notices of auction fee publicly according to each administrative division where the auction is held; comply with regulations of law on prices, property auction and their guiding documents.
3. Auction companies shall use service invoices as prescribed in the Government's Decree No. 51/2010/ND-CP dated May 14, 2010 on sale invoices and service invoices; the Government's Decree No. 04/2014/ND-CP dated January 17, 2014 on amendments to the Government's Decree No. 51/2010/ND-CP dated May 14, 2010 on sale invoices and service invoices; Circular No. 39/2014/TT-BTC dated March 31, 2014 of the Minister of Finance on guidelines for the Government's Decree No. 51/2010/ND-CP dated May 14, 2010 and the Government's Decree No. 04/2014/ND-CP dated January 17, 2014 on sale invoices and service invoices, and their replaced or amended documents (if any).
Article 5. Implementation
1. This Circular enters in force as of July 1, 2017; this Circular replaces Circular No. 335/2016/TT-BTC dated December 27, 2016 of the Minister of Finance on amount, collection, payment, management and use of property auction charges, charges for participation in property auction; repeal Article 13 of Circular No. 48/2012/TT-BTC dated March 16, 2012 of the Ministry of Finance on guidelines for determination of starting price and financial regulations in land use right auction for land allocation with land levies or land lease.
2. The difficulties that arise during the implementation must be reported to the Ministry of Finance for consideration./.
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PP. MINISTER
DEPUTY MINISTER
Tran Van Hieu
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APPENDIX 1
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 2
(Issued together with Circular No. 45/2017/TT-BTC dated May 12, 2017 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 + 5% 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 + 3% 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 + 2% 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 + 1.5% 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 + 1.4% 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 + 1.3% 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 + 1.2% of difference between hammer price and starting price
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9
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Greater than 50 billion
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VND 50 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 300 million per contract.
For example: Department X is assigned to put up a used car for auction with starting price of VND 108 million. Pursuant to Appendix of this Circular, the maximum fee for which the auction company is eligible to charge: VND 6.82 million + 3% 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 an amount of fee equal to VND 6 million + 3% 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.
- In case of successful auction, the auction company A will be paid: VND 6 million + 3% of difference between hammer price and starting price.
- In case of unsuccessful auction, the auction organization A shall be paid for reasonable and valid expenses as specified in the auction contract in accordance with Clause 2, Article 66 of the Law on property auction, but not exceeding the amount of auction fee in case of successful auction agreed upon by Department X and auction organization A as specified in the contract (VND 6 million).
APPENDIX 2
MAXIMUM AUCTION FEE EQUIVALENT TO BRACKET OF PROPERTY VALUE BY STARTING PRICE 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. 45/2017/TT-BTC dated May 12, 2017 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 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 300 million per contract.
If an auction contract involves multiple land plots and a part thereof is unsuccessfully sold by auction, it is required to determine the ratio of successful bid to unsuccessful bid by starting price for the purpose of determining auction fees and expenses to be paid to the auction company as prescribed in Appendix 2 and Clause 3, Clause 4, Article 3 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, rate of starting price of each land plot is 50%. Total starting price is VND 120 billion. Pursuant to Appendix 2 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 50 million + 1% of difference between hammer price and starting price. The abovementioned registered amount shall be the basis for payment of fee to the auction company B.
- In case of successful auction for 2 land plots, the auction company B will be paid: VND 50 million + 1% of difference between hammer price and starting price.
- In case of unsuccessful auction for both land plots, the auction company B shall be paid for reasonable and valid expenses as specified in the auction contract in accordance with Clause 2, Article 66 of the Law on property auction, but not exceeding the amount of auction fee in case of successful auction agreed upon by land development center A and auction company B as specified in the contract (VND 50 million).
- In case of successful auction for 1 land plot and unsuccessful auction for 1 land plot, the auction company B will be paid:
+ For 1 successfully auctioned land plot, the following fee shall be paid: VND 50 million x 50% + 1% of difference between hammer price and starting price of the successfully auctioned land plot;
+ For 1 unsuccessfully auctioned land plot, the auction company B shall be paid for reasonable and valid expenses as specified in the auction contract in accordance with Clause 2, Article 66 of the Law on property auction, but not exceeding VND 25 million (VND 50 million x 50%).
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