New fees on property auction

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Báo Đầu Tư English - 7 month(s) ago 5 readings

The Ministry of Finance has issued Circular No.335/2016/TT-BTC regulating the collecting level and regime, payment, management and use of property auction fees and property auction entry fees.

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No. Value of property sold at auction Rates

1

Under VND50 million

5% of the sold property

2

From VND50 million to VND1 billion

VND5 million + 1.5% of sold property value in excess of VND 50 million

3

From VND1 billion to VND10 billion

VND16.75 million + 0.2% of sold property value in excess of VND 1 billion

4

From VND10 billion to VND20 billion

VND34.75 million + 0.15% of sold property value in excess of VND 10 billion

5

More than VND20 billion

VND49.75 million + 0.1% of sold property value in excess of VND 10 billion.

The total fee will not exceed VND300 million in a single auction.

Except the property failing to be sold at auction, the sellers, judgment enforcement authorities, financial authorities shall pay practical and reasonable fees as regulated in Article 43 of Decree No. 17/2010/ND-CP for the property auction organization and property auction council within 7 days from the date of finishing the auction.

No. Starting price of the property for auction Rates (VND/file)

1

Under VND20 million

50,000

2

From VND20 million to VND50 million

100,000

3

From VND50 million to VND100 million

150,000

4

From VND100 million to VND500 million

200,000

5

More than VND500 million

500,000

The circular takes effect from February 12 to July 1, 2017.

Source VGP

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