What are the latest fees and charges payable in securities sector in Vietnam in 2023? How is declaration and transfer of fees and charges by collector?
The latest fees and charges payable in securities sector in Vietnam in 2023?
Pursuant to Circular No. 25/2022/TT-BTC prescribing fees and charges payable in securities sector, collection, transfer, management and use thereof promulgated by the Minister of Finance.
The latest fees and charges payable in securities sector are the fees and charges for management and supervision of securities activities, and issuance of licenses or certificates in securities sector are prescribed in the Schedule of fees and charges enclosed with Circular No. 25/2022/TT-BTC.
Which includes:
- Fees for issuance of licenses and certificates of operation in the securities sector:
+ Fees for issuance of licenses for establishment and operation of securities companies
+ Fees for licensing the establishment and operation of securities investment fund management companies
+ Fees for issuance of licenses for establishment and operation of securities investment companies
+ Fees for issuance of securities investment fund registration certificates
+ Fees for issuance of decisions on establishment and operation of branches of securities companies, domestic securities investment fund management companies; issue certificates of outward portfolio investment to securities trading organizations (including securities companies, fund management companies)
+ Fees for licensing the establishment and operation of branches of foreign securities companies and fund management companies in Vietnam
+ Fees for new issuance, re-issuance, adjustment or extension of decisions on establishment of representative offices of securities companies, domestic securities investment fund management companies
+ Fees for new issuance, re-issuance, modification and extension of operation registration certificates of representative offices of securities companies and foreign securities investment fund management companies in Vietnam
+ Fees for new issuance, re-issuance, extension and adjustment of the decision to establish a securities company transaction office
+ Fee for issuance of certificate of registration of fund certificate distribution activities
+ Fee for issuance of certificate of registration of securities depository activities
+ Fees for issuance of certificates of registration of public offering of securities; issue a certificate of registration to issue shares (for swap); issue certificates of initial and additional warrants offering; issue a certificate of registration for the issuance of new shares as a basis for the offering of depository certificates in foreign countries
+ Fees for issuance of certificates of eligibility for derivatives trading
+ Fees for issuance of certificates of eligibility to provide clearing and settlement services for securities/derivatives transactions
+ Fees for new issuance, renewal and re-issuance of securities practice certificates (certificates) for individuals practicing securities at securities companies, securities investment fund management companies and securities investment companies
- Fees for management and supervision of securities activities
+ Management fees of public companies that have not been listed and registered for transactions; open fund management fee
+ Securities activity supervision fee.
What are the latest fees and charges payable in securities sector in Vietnam in 2023? How is declaration and transfer of fees and charges by collector?
How is declaration and transfer of fees and charges by collector?
Pursuant to Article 5 of Circular No. 25/2022/TT-BTC, the declaration and transfer of fees and charges by collector is regulated as follows:
- Not later than Monday every week, the collector shall transfer the entire amount of fees collected in the previous week to the dedicated state budget account opened at the State Treasury.
- The collector shall pay 30% of total amount of collected fees and 100% of total amount of collected charges to state budget according to chapters and sub-items of the applicable State Budget Entries.
What are the regulations on declaration and payment of fees and charges by payers?
Pursuant to Article 4 of Circular No. 25/2022/TT-BTC as follows:
Declaration and payment of fees and charges by payers
1. Fees and charges in securities sector shall be paid in VND.
2. Payment of charges: Payers shall pay entire charges payable when being issued with licenses or certificates in securities sector to SSC.
3. Payment of fees for supervision of securities activities: Hanoi Stock Exchange and Ho Chi Minh Stock Exchange (hereinafter referred to as “SEs”), Vietnam Securities Depository and Clearing Corporation (VSDC), and settlement banks shall pay supervision fees to SSC on a quarterly basis by the last day of the first month of the following quarter.
4. Unlisted or unregistered public companies shall pay management fees once when they are issued with certificate of completion of public company registration by SSC.
5. Payment of fees for management of open-end funds
a) Within 30 days from the issue date of certificate of establishment of open-end fund, the fund management company is required to pay management fees as follows:
- If the certificate is issued between January 01 and June 30 of each year, the fee payable is VND 10 million/fund.
- If the certificate is issued between July 01 and December 31 of each year, the fee payable is VND 5 million/fund.
b) For the subsequent years, the fee payable is VND 10 million/fund; payment time limit: December 01 – 31 of each year.
Thus, the declaration and payment of fees and charges by payers shall comply with the above provisions.
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