On July 31, 2019, the Government issued Decree No. 67/2019 / ND-CP stipulating the method of calculation and collection of charges for granting mining rights. This Decree takes effect from September 15, 2019.
Accordingly, from the date of September 15, 2019, at the time this Decree takes effect, the fee level for granting mineral mining rights will be determined according to the coefficient R determined as a percentage of the value of the original ore. Minerals in the area are allowed to be exploited. This R coefficient is stipulated in Decree 63/2019 more specifically than the previous Decree 203/2013 / ND-CP.
The Decree also stipulates the method and time for paying mineral mining rights. Based on the amount to be paid and the time of license for exploitation, this amount may be paid in lump sum for the whole time of license or in installments. The time of payment is divided into two periods, May 31 and October 31 each year.
In addition, the decree also provides for cases where the amount of money that has been paid for mining activities has been refunded.
Thus, with the issuance of Decree 67/2019 / ND-CP, the Government has taken action to tighten management of the mining sector, making more specific and detailed regulations to avoid loss of State budget revenues in mineral activities.