Circular No. 155/2009/tt-Btc: Tax Guide For Active Exploration, Mine Development And Exploitation Of Oil And Gas Of The Russian-Vietnamese Joint Venture "vietsovpetro" From Lot 9-1 As Stipulated In The Agreement.

Original Language Title: Thông tư 155/2011/TT-BTC: Hướng dẫn về thuế đối với hoạt động tìm kiếm thăm dò, phát triển mỏ và khai thác dầu khí của Liên doanh Việt - Nga “vietsovpetro” từ lô 09-1 theo quy định tại Hiệp đị...

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The base agreement between the Government of the Socialist Republic of Vietnam and the Government of the Russian Federation signed on December 27, 2010 about the continuation of cooperation in the field of geological exploration and exploitation of oil and gas in the continental shelf of the Socialist Republic of Vietnam in the framework of Vietnam-Russia joint venture "Vietsovpetro" (hereinafter referred to as the agreement);

Pursuant to the law of oil and gas in 1993 was passed by Congress on 06/7/1993; Law on amendments and supplements to some articles of the law which the Parliament passed on 9/6/2000; Law on amendments and supplements to some articles of the law of oil and gas of 10/2008/QH12 on 03/6/2008 and documents guiding the implementation;

Pursuant to the law signing, joining and implementing international treaties No. 41/2005/QH11 on 14/6/2005 of the National Assembly of the Socialist Republic of Vietnam and the text guiding the implementation;

To base the tax law, Ordinance on fees and documents guiding the implementation;

Pursuant to the law the tax management of 78/2006/QH11 on November 29, 2006 and other documents guiding the implementation;

Pursuant to Decree No. 118/2008/ND-CP on November 27, 2008 of the Government functions, tasks, powers and organizational structure of the Ministry of finance;

The Ministry of finance guidelines on tax and State budget account (hereinafter referred to as the tax) for active exploration, mine development and exploitation of oil and gas of the Russian-Vietnamese joint venture "Vietsovpetro" from lot 9-1 as stipulated in the agreement, 2010 is as follows: chapter I GENERAL PROVISIONS article 1. Scope this circular guides the taxes applicable to exploration activities, development of mines and oil and gas extraction of Vietnam-Russia joint venture "Vietsovpetro" from lot 9-1 as stipulated in the agreement, including:-tax resources 2010;

-Export Tax;

-Special Tax;

-Value added Tax;

-Surcharges when crude oil price fluctuations;

-Corporate income tax;

-Taxes, fees, other fees.

Article 2. Application object 1. This circular applies to goods product is crude by the Vietnamese-Russian joint venture "Vietsovpetro" tap and hold are from batches of 09-1 were sold (including swap), not including non-product costs and commodity technology products.

"Product of Africa of goods" as defined in the Convention 2010 is the crude oil needed to ensure the extraction, processing, storage and transport of crude oil to the delivery point.

"The attrition charge technology products" as defined in the Convention 2010 is the attrition charge related to the crude oil extraction and processing, storage and transport of crude oil to the delivery point.

2. This circular does not apply to goods and services from other business activities of the Russian-Vietnamese joint venture "Vietsovpetro" in addition to exploration activities, development of mines and oil and gas extraction from batch 9-1. In this case, a Vietnamese-Russian joint venture "Vietsovpetro" perform duties prescribed by applicable tax legislation.

Article 3. The taxpayer 1. The taxpayer is the Vietnamese-Russian joint venture "Vietsovpetro" (hereafter referred to collectively as VIETSOVPETRO).

2. where the prescribed authorization of VIETSOVPETRO law for organizing Vietnam make stubs, pay tax instead of the authorized organization that is the taxpayers instead.

Article 4. The currency lodging taxes 1. VIETSOVPETRO performed determine the tax and tax settlement in us dollars.

2. The currency lodging taxes guide in this circular are in us dollars.

VIETSOVPETRO case bronze Vietnam tax under the provisions of the Government rate applies when converted from us dollars to Vietnam Dong to pay tax is the average transaction rates on the inter-bank foreign currency market by the State Bank of Vietnam announced at the time of payment.

The case of crude oil sold in the Vietnam market, the selling price is determined on the basis of the US dollar, the currency lodging tax is VND Vietnam. Exchange rate Dong out of Vietnam to determine sales tax and lodging tax rate is the average trading on the Interbank Forex market by the State Bank of Vietnam announced at the time of the printed invoice.

Article 5. The principle of determining tax price 1. Tax rates prescribed in this circular are the price of crude oil is determined according to the contract the transaction promptly.

"The transaction promptly contract" is the contract the transaction between the buyer and the seller in relation to the market, not including the purchase contract between a company's internal, between related companies, links between Governments, between government institutions, or any transaction , the Exchange would be affected by the trade relations are not normal.

2. where the crude oil is sold not by contract transactions, the tax authorities (tax agencies and customs) will determine the tax rates according to the following principles: tax Price is the average price of crude oil of the same type on the international market of 3 consecutive weeks : last week, the week of the sale and the next week weeks selling crude oil. Taxpayers have a responsibility to provide the tax authorities with information about the ingredients, the quality of the crude oil are exploited. When necessary, the tax administration of the reference price on the US market (WTI), the UK (Brent) or the Singapore market (Platt's) or consult the competent State agencies about the determination of the price of crude oil are exploited by the taxpayer.

Chapter II GUIDELINES for TAX REGULATIONS TAX RESOURCES section 1 article 6. Taxable object resources 1. The entire crude production and kept from the batch 9-1, measured at the point of collection, inventory, distribution and delivery of goods and products, has been sold is taxable object resources.

"Collection point, inventory, distribution and delivery of goods and products" as defined in the Convention 2010 is equipped with reservoirs needed to preserve goods, technology and equipment, pipeline inspection tools-measurement (clue inventory) at sea or on shore from which brought goods and products go on sale (hereinafter collectively referred to as delivery points get).

2. for account gas obtained during the extraction process of crude oil, VIETSOVPETRO no use for technology needs, delivered free of charge to the Government of Vietnam using the VIETSOVPETRO not tax resources for account of this gas.

3. in the case of crude oil extraction process, VIETSOVPETRO is allowed to exploit other resources, subject to taxes on resources, the implementation of the resource tax as required by the law on tax on current resources.

Article 7. Tax period resources resource tax period is the calendar year. The first resource tax period begins on the first crude oil until the end of the first calendar year. Tax period end resources starting from the first day of the calendar year end to end exploitation of crude oil.

Article 8. Khai, the resource tax 1. The resource tax was filed by crude oil; with money; or in part by money and partly with crude oil.

The tax case is filed by the crude oil, the tax authorities will notify the taxpayer in writing before May 6 and specific instructions about stubs, tax resources by crude oil.

2. tax, temporary resources: resources are provisional Tax, filed under each export sale.

2.1. Identify temporary resources tax amount payable: the amount of temporary resources tax payable = output of crude oil export sales x price tax resources tax rate x temporary resources in which crude oil output:-export sale is taxable crude oil output of resources under each issue sold.

-Temporary resource tax Price is the selling price of crude oil at the point of delivery of each issue selling crude under contract transactions, excluding value added tax. The case of crude oil are sold not under contract, then promptly traded price tax resources are defined as in article 5, chapter I of this circular.

-Tax rate on resources as defined in the Convention 2010 is 18%.

Example 1: determine the number of temporary resource tax: assume the sale and export of crude oil to a batch of VIETSOVPETRO with output is: 500,000 barrels, the price is $ 75 a barrel.

 





The amount of temporary resources tax payable = 500,000 barrels x 75 per barrel x 18% = $ 6,750,000 2.2. Khai, temporary resource tax: a) the resource tax profile temporary is temporary resources tax for crude oil under model number 01/TAIN-VSP attached to this circular.

b) the time limit for filing temporary resource tax: least 35 days from the date of sale and export of crude oil. The export of crude oil was on sale day to complete the export of crude oil at the point of delivery (for crude oil sold at the market of Vietnam) or on complete customs procedures in accordance with the customs legislation (for crude oil exports). Case 35 days is Saturday, Sunday, holidays, lunar new year (hereafter referred to collectively as the day of rest), the time limit for filing the tax return temporary resources is the next working day of that holiday.

c) tax deadlines temporary resources: slow for the last day of the time limit for filing the tax return temporary resources.

Article 9. Tax resources 1. Identify the resource tax payable in a tax period: 1.1. Identify the resource tax equal to the tax payable: crude oil resources by crude oil must be filed in the tax period = taxable crude oil output in the resource tax period x tax rate resources in which crude oil output:-good resource tax in the tax period is the entire crude oil output under tax resources exploitation and export sale in the tax period.

-Tax rate on resources as defined in the Convention 2010 is 18%.

1.2. Determining the amount of tax payable resources: resource tax payable amount in tax period =




Crude oil resources tax to be paid in the tax period x Reviews tax resources for crude oil in the tax period in which:-tax resources by crude oil must be filed in the tax period is defined as the instructions in point 1.1, paragraph 1, of this Article.

-Tax Rates for crude oil resources in the tax-calculation period: weighted average of the yields of taxable crude oil resources in the tax-calculation period are selling at the point of delivery according to the contract the transaction promptly during the tax period, does not include value added tax. The case of crude oil is sold not by contract transactions, tax rates are defined according to the guidelines in article 5, chapter I of this circular.

Example 2: determine the price of the resource tax in the tax period.

Assuming crude oil output is sold in the tax period is 1,400,000 containers are sold into 3 units: 1 batch producing is 500,000 barrels, sale price $ 65/barrel; lot 2 has a volume is 600,000 barrels, sale price $ 68/barrel; lot 3 has the output is 300,000 barrels, the sale price of 70 dollars per barrel.

 





Tax rates for crude oil resources in the tax period = (500,000 x 65) + (600,000 x 68) (300,000 x 70) = 67.36 1,400,000 2 per barrel. Stubs, pay tax according to the tax declaration resources: 2.1. Declaration tax resources including:-tax declarations for crude oil resources under model number 02/TAIN-VSP attached to this circular.

-Lists the output and sale of crude oil export sales under model number 02-1/TAIN-VSP attached to this circular.

2.2. Time limit for submission of the resource tax declaration:-the latest is day 90, since the end of the calendar year.

-The latest is 45 days from the date of the end of the agreement (in the case of other agreements on end with the end of the calendar year).

The case on Wednesday, 90 or 45 days is on holiday, the time limit for submission of the resource tax declaration is the next working day of that holiday.

2.3. Time limit for submission of the resource tax under tax declaration resources: slowest is the last day of the time limit for submission of the resource tax declaration.

Section 2 article 10 EXPORT TAX. Taxable object to export the entire crude oil output of VIETSOVPETRO, including part of the interest rate the oil involved, after subtracting the crude oil output tax resources, when subject exporting export tax.

Article 11. Determine the number of export tax payable determined export tax: tax payable = Number of output exported crude oil export tax rates x x tax rate of export in which crude oil output:-export is crude oil output export by actual sale appearances.

-Tax Export Price is the price of crude oil at the point of delivery of each issue selling crude under contract the transaction promptly (FOB price). The case of crude oil is sold not by contract transactions promptly shall tax the export price is defined as in article 5, chapter I of this circular.

-Export tax rate is determined as follows: export tax rate = 100% resource tax rate-x export tax for crude oil in which the resource tax rate:-as defined in the Convention 2010 is 18%.

-Crude oil export tax as defined in the Convention 2010 is 10%.

Example 3: determine the rate of export tax for crude oil export tax rate: for crude oil = (100%-18%) x 10% = 8.2% of article 12. Publicity, export tax procedures, export tax for crude oil exports made under the provisions of the law on the export tax, import tax and the law on tax administration.

Private tax deadlines for the export of crude oil: slowest is 35 days from the date of the customs procedures are done in accordance with the customs legislation. Case 35 days is on holiday, the time limit for export tax is next working day of that holiday.

SPECIAL TAX section 3 article 13. Subject to the special tax the entire crude oil output of VIETSOVPETRO, including part of the interest rate the oil involved, after subtracting the crude oil output tax resources, when consumed in Vietnam market subject to special taxes.

Article 14. Define special tax amount payable determined special tax amount payable: special tax payable = output of crude oil consumed in Vietnam market special tax rates x x tax rate especially in which crude oil output:-consumption market in Vietnam's crude oil production and export market sales in fact Vietnam each sale appearances.

-Tax Rates especially crude oil price at the point of delivery of each issue selling crude under contract transactions, excluding value added tax. The case of crude oil is sold not by contract the transaction promptly, then reviews the special tax calculation is defined as in article 5, chapter I of this circular.

-Special tax rate is determined as follows: the special tax rate = 100% resource tax rate-x special tax which:-tax rate on resources as defined in the Convention 2010 is 18%.

-Special tax under the provisions of the Convention 2010 is 10%.

Example 4: determine the rate of the special tax for crude oil: special tax rate for crude oil = (100%-18%) x 10% = 8.2% of article 15. The special tax, special Taxes and filed under each export sale.

1. special tax records is a special tax form number 01, MEKONG-VSP attached to this circular.

2. The time limit for filing the tax return Special: slowest is 35 days from the date of completion of the export of crude oil at the point of delivery. Case 35 days is on holiday, the time limit for filing the tax return special is the next working day of that holiday.

3. special tax deadlines: slow for the last day of the time limit for filing the tax return.

Section 4 VALUE ADDED TAX article 16. Value added tax for crude oil consumption market in Vietnam, not the VIETSOVPETRO value added tax for crude oil consumption in Vietnam market.

An EXTRA 5 entries when the CRUDE OIL PRICE VOLATILITY INCREASED article 17. Object subject to surcharges As crude oil price rose above 20% in comparison with the price of crude oil is the base 75 per barrel, the entire interest of VIETSOVPETRO oil extra subject under the guidance of this circular.

Article 18. Khai, filed provisional surcharges for oil sale appearances by interest rates Of provisional surcharges for oil interest in each issue sold publicly and filed under each sale appearances if the selling price of crude oil rose over 20% compared with the price of crude oil is the base 75 per barrel.

1. Determine the number of temporary surcharge to be paid: – where the price of crude oil to the reality of appearances to sell the higher base price increases respectively on 20% to 50% Of provisional surcharges payable under each issue sold crude oil = 50% x sale price crude oil sale appearances-by-1.2 x x base crude oil Prices oil production interest provisional sale appearances-by-case crude oil price reality of appearances to sell the higher base price increases respectively over 50%, the number of temporary surcharges are identified = (i) + (ii), namely: (i) the number of temporary surcharges payable under each respective crude oil sale appearances with the rising oil price is higher than the price on the basis of 20% to 50% = 50% x sale price of crude oil for each sale up to maximum 150 appearances% the price of oil-base crude oil price base x 1.2 x interest rate temporary oil output according to each issue sold and (ii) the number of temporary surcharges payable under each respective sale appearances with the high oil prices of more than 50% over base price = 20% x sale price crude oil for each sale appearances-1.5 x the price of crude oil is the base x interest rate temporary oil output according to each sale appearances





 

 

In which:-the selling price of crude oil as the second sale is the selling price of crude oil at the point of delivery of each issue selling crude under contract transactions, excluding value added tax. The case of crude oil is sold not by contract the transaction promptly, the price of crude oil for each sale appearances is defined as in article 5, chapter I of this circular.

-Crude oil price basis as defined in the Convention 2010 is 75 per barrel.

-Temporary interest rate oil output by selling crude oil is the second remaining after subtracting the crude oil section refers to the resource tax and excluding crude oil to petroleum operations back in batches of 10-1 (as planned by the Council annually, browsing venture does not exceed 35%).

Example 5: determine the number of surcharge to be paid when the crude oil price volatility to increase crude oil production batches for sale: assuming sale and export of crude oil output in December 01/01/2011 by VIETSOVPETRO is 400,000 barrels, the selling price is $ 115 a barrel, the tax rate is 18% of the resources, the rate of crude oil to back the venture board browser is 34%.

-Sale price $ 115 a barrel compared with 75 base price per barrel by 153%.

 





-Temporary interest rate oil output = 400,000 400,000 400,000 x-18%-34% x = 192,000 barrel-additional provisional Number is determined as follows: (i) the number of extra provisional corresponds with the rising oil price is higher than the price on the basis of 20% to 50%




= 50% x (75 x 75 x 1.2-1.5) x = 192,000 2,160,000 dollars and (ii) the number of extra provisional corresponds with the higher oil price base price above 50% = 60% x (115-75 x 1.5) x = $ 288,000 192,000 total temporary surcharges payable by the first crude oil sale appearances on 01/01/2011 = (i) + (ii) = 2,448,000 USD.

2. Publicity, filed provisional surcharges: 2.1. Outdoor temporary extra stubs is a temporary surcharges for oil sold by appearances-by interest rate model No. 01/PTHU-VSP attached to this circular.

2.2. The time limit for filing temporary extra stubs: slowest is 35 days from the date of sale and export of crude oil. The export of crude oil was on sale day to complete the export of crude oil at the point of delivery (for crude oil sold at the market of Vietnam) or on complete customs procedures in accordance with the customs legislation (for crude oil exports). Case 35 days is on holiday, the time limit for filing temporary extra stubs is the next working day of that holiday.

2.3. Time limit for submission of provisional surcharges: slow for the last day of the time limit for filing temporary extra stubs.

Article 19. Khai, filed provisional surcharges for oil interest from the residual oil portion of the costs of leaving the oil interest rates from the cost of the residual oil portion of leave including interest oil from crude oil sale price disparity and oil interest from non-use fees.

1. Identify temporary surcharges for oil interest from crude oil sale price difference: 1.1. Determine the interest rate spreads oil production from crude oil sale price: interest oil output from crude oil sale price disparity is defined as follows: SSản oil interest from crude oil sale price disparity quarterly difference = sale price of crude average Price his respective rights of crude oil export batches sold in the corresponding quarter in which :-the amount of the difference in selling price of crude oil is the quarterly total difference arising between actual selling price quarterly versus sale price plan for VIETSOVPETRO oil production to back to use as defined in article 9 of the 2010 agreement, be determined according to the instructions in Points 1.1 and 1.3 Article 24, paragraph 1, of this circular.

The average weighted price of the crude oil export batches sold in quarter by selling crude oil export revenues of the corresponding quarter divided by the yield of crude oil export sales during the corresponding quarter.

1.2. Identify temporary surcharges to pay for oil interest from crude oil sale price disparity: a) on the basis of interest-oil output from crude oil sale price disparity quarterly weighted average price, of crude oil export batches sold in the corresponding quarter of VIETSOVPETRO, determine the number of interest for oil from crude oil sale price disparity quarterly according to the guidelines in paragraph 1 , Article 18 of this circular.

b) Of temporary surcharges to pay for oil from the interest rate disparity quarterly crude oil price by an extra number (=) for oil interest from crude oil sale price disparity quarterly determined according to the instructions in point 1.2. a, this (x) 80%.

Example 6: suppose that the first quarter of 2011, VIETSOVPETRO determines the amount of crude oil price disparity is 50,000,000 USD, jar price prices of crude oil export batches sold in the first quarter is 100 USD/barrel.

 





Interest rate spreads in oil production from the sale price of crude oil in the first quarter = 100 tanks Under 500,000 = 50,000,000 guiding principles in clause 1, article 18 of this circular, the extra amount: number of quarter = 50% x average weighted Price of the crude oil export batches sold in quarter-1.2 x 75 x interest oil output from crude oil sale price disparity quarter = 50% x (100-75 x 1.2) x 500,000 = $ 2,500,000 Of provisional surcharges payable quarter = 2,500,000 USD x 80% = $ 2,000,000 2. Define temporary surcharges for oil interest rates from the cost of no use: 2.1. Determine the cost of oil production from the interest rate used is not exhausted: oil production interest from non-use fees off = the amount of costs using the average home price is not the right of the batch export crude oil for sale in the residual costs of which:-not use cost amount is the difference between the value of output of crude oil left for VIETSOVPETRO use in accordance in article 9 of the Treaty on the basis of the selling price of the crude oil plan (planned costs) and the actual costs incurred in the period ending balance of service oil and gas activity backpack 09-1 venture Council resolution at each Council session documents and costs using not off (if available) according to the minutes of the Board's annual VIETSOVPETRO Inspector Inspector.

The average weighted price of the crude oil export batches sold in the residual cost (=) sale of crude oil export revenue in the excess costs divided by total crude oil output:) (export sale in the balance cost.

The balance of costs is VIETSOVPETRO period determined using expenses don't run out to report the Council approved venture.

2.2. determination of provisional surcharges for oil production from the interest rate cost of using no off: on the basis of interest from oil output costs using the average home price, not the right of the batch of crude oil export sale in the residual costs respectively, VIETSOVPETRO determine the amount of extra interest from oil output costs using not out as guiding principles in clause 1, article 18 of this circular.

The case according to the inspection results of the annual inspection of VIETSOVPETRO incurred expenses using not, VIETSOVPETRO made determining surcharges to pay for oil from interest expenses use this out not on the basis of the average weighted price of the crude oil export batches sold in the States the balance of the year made the corresponding inspection and according to the guiding principles in Paragraph 1, article 18 and 2.1 Points, clause 2, article 19 of this circular.

Example 7: suppose in 2011, Council meeting and joint venture decided not use cost of 2011 is $ 50,000,000. The price of the average weighted of the crude oil export batch sold in the States the cost balance is 100 USD/barrel.

 





Oil production from the interest rate cost of using no out = 100 tanks Under 500,000 = 50,000,000 guiding principles in clause 1, article 18 of this circular, the number of charges payable: for the cost of oil production from the interest rate used is not off = 50% x average weighted Price of the crude oil export batches sold in the States the cost balance-1.2 x 75 x interest rate cost of oil production from the use not off = 50% x (100-75 x 1.2) x 500,000 = 2,500,000 USD 3. Khai, filed provisional surcharges for oil interest from the residual cost: 3.1. Additional declaration is Temp computer extra declarations against interest oil from crude oil sale price difference according to model No. 01-1/PTHU-VSP and temporary surcharges Declaration for oil interest rates from the cost of use does not end according to model No. 01-2/PTHU-VSP attached to this circular.

3.2. The time limit for filing additional provisional declaration:-the latest is thirty (30) days of the next quarter you tax obligations arise for extra income from oil sales price disparity.

-The latest is thirty (30) days from the date the Council resolution venture expenses use does not end according to the text of the Council session.

30 day case is on holiday, the time limit for filing temporary extra stubs is the next working day of that holiday.

3.3. The time limit for submission of provisional surcharges: slow for the last day of the time limit for filing temporary extra stubs.

Article 20. Extra-settlement currency when the crude oil price volatility increases.

1. Determine the number of charges under the settlement: additional Number are filed under settlement with total surcharges payable is determined according to the instructions in paragraph 1, article 18 and paragraph 1, paragraph 2, article 19 of this circular.

The number for the difference in selling price of crude oil quarterly guidance in paragraph 1, article 19 was determined on the basis of the entire number of surcharges payable by each quarter.

2. extra currency lodging, according to the settlement Declaration: 2.1. Extra-settlement Declaration include:-extra-settlement currency declaration form No. 02/PTHU-VSP attached to this circular.

-Lists of provisional surcharges filed under model number 02-1/PTHU-VSP attached to this circular.

2.2. The time limit for filing additional settlement Declaration:-the latest is day 90, since the end of the calendar year.

-The latest is 45 days from the date of the end of the agreement (in the case of other agreements on end with the end of the calendar year).

The case on Wednesday, 90 or 45 days is on holiday, the time limit for filing additional settlement stubs is the next working day of that holiday.

2.3. additional deadlines under the extra-settlement Declaration: slow for the last day of the time limit for filing additional settlement geography.

Item 6 BUSINESS INCOME TAX article 21. Subject to enterprise income tax 1. Income from exploration activities, development of mines and oil and gas extraction of VIETSOVPETRO from 09-1 batch is subject to enterprise income tax according to the instructions in this circular.

2. Income from other business activities and income other than income from exploration activities, development of mines and oil and gas extraction from batch 9-1 of VIETSOVPETRO in an business income taxable according to the law on enterprise income tax.

Article 22. Enterprise income tax-calculation period 1. Enterprise income tax-calculation period is the calendar year. Enterprise income tax-calculation period is calculated from the first day of search operations conducted exploration, mine development and exploration of oil in first until the end of the first calendar year. Enterprise income tax-calculation period end is calculated from the start date of the last calendar year to the end of the agreement.


2. where the tax period the first year and the tax period last year have less than 3 months shall be plus tax period next year or tax period year earlier to form a business income tax period. Enterprise income tax-calculation period first year or tax period business income last year should not exceed 15 months.

Article 23. Khai, temporary business income tax calculated according to each issue sold 1. Determine the number of temporary corporate income tax payable: corporate income tax payable according to each temporary sale appearances = temporary taxable income by selling appearances (a) x corporate income tax rate (b) which: (a) taxable temporary income by selling production time is determined as follows : temporary taxable income by selling appearances = crude oil sales revenue for each sale appearances-costs are subtracted--crude oil sales for each sale by appearances (=) the output of crude oil export sales (x) selling price of crude oil under the contract the transaction promptly of each issue selling. The case of crude oil is sold not by contract the transaction promptly, the price of crude oil is defined as in article 5, chapter I of this circular.

-Costs are deducted are: + tax resources;

+ Export Tax;

+ Special Tax;

+ Crude oil output value left for VIETSOVPETRO used for oil and gas activities in the batch 9-1 in proportion was browser Venture Board annually (maximum 35%) according to the provisions of article 9 of the Convention 2010, identified on the fact crude oil selling price for each sale of crude oil appearances;

+ Surcharges when crude oil price volatility increased over 20% compared with the price of oil.

The aforementioned expenses are determined according to the instructions in this circular.

(b) the enterprise income tax according to the provisions of the Convention 2010 is 50%.

2. Opening the corporate income tax, provisional: 2.1. Profile of enterprise income tax is provisional enterprise income tax is provisional as the second sale by model No. TNDN/01-VSP attached to this circular.

2.2. The time limit for filing corporate income tax temporary: slowest is 35 days from the date of sale and export of crude oil. The export of crude oil was on sale day to complete the export of crude oil at the point of delivery (for crude oil sold at the market of Vietnam) or on complete customs procedures in accordance with the customs legislation (for crude oil exports). Case 35 days is on holiday, the time limit for filing corporate income tax returns is the next working day of that holiday.

2.3. Time limit for submission of provisional enterprise income tax: slow for the last day of the time limit for filing corporate income tax temporarily.

Article 24. Khai, the enterprise income tax for income from the provisional cost of the residual oil portion of leave 1. Income from the residual oil portion of the costs of leaving include: 1.1. Income from the sale of crude oil price disparity is the total difference between actual selling price compared with the price plan for VIETSOVPETRO oil production to back for use as specified in article 9 of the agreement.

1.2. Income from the cost used is not the difference of the value of output of crude oil products to leave for VIETSOVPETRO uses as defined in article 9 of the Convention 2010 on the basis of the selling price of the crude oil plan (planned costs) and the actual costs incurred in the period ending balance of service oil and gas activity backpack 09-1 by the Council in resolution venture Van conditions of each session of the Board of the venture and the cost of use does not end according to the minutes of the Board's annual VIETSOVPETRO Inspector Inspector.

1.3. in case of the year made, the actual cost to serve the oil and gas activity backpack 09-1 greater than the costs incurred planning the VIETSOVPETRO are compensated with income from the sale of crude oil price disparity of the adjacent quarter until clearing.

2. Determine the number of temporary business income tax: 2.1. Determine the number of provisional enterprise income tax from oil price disparity: a) determine the number of quarterly corporate income tax: income tax quarterly business = taxable income x tax rate of corporate income tax in which: – taxable income equal to (=) the total income from the sale of crude oil price disparity quarterly according to the instructions in Points 1.1 and 1.3 Article 24, paragraph 1, of this circular, the minus (-) of surcharges payable for income from crude oil sale price difference according to the instructions in point 1.2, paragraph 1, article 19 of this circular (if any).

-Corporate income tax under the provisions of the Convention 2010 is 50%.

b) business income tax amount payable with respect to temporary price disparity quarterly crude oil equal to (=) the corporate income tax with respect to interest oil from crude oil sale price disparity quarterly identified as guide in point 2.1, Paragraph 2, of this multiply (x) 80%.

Corporate income tax due for the difference in selling price of crude oil quarterly guidance on this is determined on the basis of temporary should not be grounds for VIETSOVPETRO divided interest for the participants.

2.2. Determination of temporary business income tax from don't use most cost: corporate income tax temporary payable = taxable income x tax rate the corporate income tax which: – taxable income equal to (=) the income from the cost of no use out according to the instructions in point 1.2 , Paragraph 1, of this article, are determined by the session of the Council text annual venture minus (-) of surcharges payable according to the instructions in paragraph 2, article 19 of this circular (if any).

-Corporate income tax under the provisions of the Convention 2010 is 50%.

3. Publicity, temporary business income tax calculated for income from the residual oil portion of the cost to: 3.1. Profile of enterprise income tax is provisional enterprise income tax is provisional for income from crude oil sale price difference according to model No. TNDN/01-1-VSP and the corporate income tax return for income from the provisional costs of use does not end according to model No. TNDN-2/01-VSP attached to this circular.

3.2. The time limit for filing corporate income tax returns interim computer:-the latest is thirty (30) days of the next quarter you tax obligations arise for earnings from oil sales price disparity.

-The latest is thirty (30) days from the date the Council resolution venture expenses use does not end according to the text of the Council session.

30 day case is on holiday, the time limit for filing corporate income tax temporary is the next working day of that holiday.

3.3. The time limit for temporary business income tax calculator: slow for the last day of the time limit for filing corporate income tax temporarily.

Article 25. Corporate income tax 1. Determine the number of corporate income tax payable: corporate income tax payable by total corporate income tax is determined according to the instructions in paragraph 1, article 23 and Paragraph 2, article 24 of this circular.

The number of corporate income tax for the sale of crude oil price disparity quarterly guide in point 2.1, paragraph 2, article 24 of this circular are determined on the basis of the entire enterprise income tax amount payable each quarter.

2. Declaration of the income tax declaration is the business enterprise income tax according to the model No. TNDN/02-VSP attached to this circular.

3. The time limit for filing enterprise income tax:-the latest is day 90, since the end of the calendar year or fiscal year.

-The latest is 45 days from the date of the end of the agreement (in the case of other agreements on end with the end of the calendar year).

The case on Wednesday, 90 or 45 days is on holiday, the time limit for filing the income tax declaration enterprise is the next working day of that holiday.

4. The time limit for the corporate income tax according to the Declaration enterprise income tax: slow for the last day of the time limit for filing the income tax declaration.

Section 7 FEES, TAXES and OTHER FEES to article 26. The taxes, fees and other fees In the process of conducting exploration activities, development of mines and oil and gas extraction from batch 9-1, VIETSOVPETRO made filed the taxes, fees, other fees no specific instructions in this circular under the provisions of the law on taxes , the current fees.

Chapter III article 27 ENFORCEMENT TERMS. Effect 1. This circular effect from 01/01/2012. Extra private currency when the crude oil price fluctuations for oil and interest rates increase corporate income tax from active exploration, development and oil and gas extraction from batch 09-1 production sold in 2011, VIETSOVPETRO has opened, other taxpayers with guidance in this circular, the opening adjusted according to the instructions in this circular as tax in 2011.

2. The content of this circular Guide and the content is not contrary to the instructions in this circular is made under the provisions of tax legislation and tax management.

In the process, if there are difficulties, obstacles and propose timely reflect the units of the Ministry of finance to be settled.