Under the Finance Ministry’s Circular No. 03/2012/TT-BTC of January 5, guiding the collection, remittance, management and use of the auctioning charge and charge rates, the auctioning charge will not exceed VND 300 million per auction.
Accordingly, for a successful auction, the charge will be calculated on the value of item(s) sold through auction.
Specifically, if an item is sold for under VND 50 million, the auctioning charge will be 5% of the price.
For items valued at between VND 50 million and 1 billion, the charge will be VND 2.5 million plus 1.5% of these items’ value in excess of VND 50 million.
For items valued at between over VND 1 billion and 10 billion, the charge will be VND 16.75 million plus 0.2% of these items’ value in excess of VND 1 billion.
For items valued at between VND 10 and 20 billion, the charge will be VND 34.75 million plus 0.15% of these items’ value in excess of VND 10 billion.
For items valued at over VND 20 billion, the charge will be VND 49.75 million plus 0.1% of these items’ value in excess of VND 20 billion but the total charge may not exceed VND 300 million per auction.
In case an auction is unsuccessful, within seven days after its end, item owners and related agencies will have to pay actual costs to auction organizers or auction councils under Article 43 of Government Decree No. 17/2010/ND-CP.
The charge for auction participation depends on reserve prices of to-be-auctioned items, averagely around VND 50,000 higher than current charge per dossier.
The Circular also sets the fee auctioning organizations must pay to receive an auction practice certificate at VND 200,000, or VND 100,000 for renewal of a certificate.
The Circular will take effect on March 1, and replace Circular No. 96/2006/TT-BTC of January 2006.-