Vietnam: What is the detailed list of motor vehicle license plates to be auctioned on January 8, 2024? How many beautiful license plates are subject to online auction?
- What is the detailed list of motor vehicle license plates to be auctioned in Vietnam on January 8, 2024?
- What is the duration of the motor vehicle license plate auction in Vietnam?
- What are the regulations on the management and use of revenues from auctions of motor vehicle license plates in Vietnam?
What is the detailed list of motor vehicle license plates to be auctioned in Vietnam on January 8, 2024?
December 29, 2023, Vietnam Partnership Auction Company issues Notice 65/2023/TB-VPA and Notice 01/2024/TB-VPA on the schedule of the online motor vehicle license plate auction on January 8, 2024.
Accordingly, the detailed list of motor vehicle license plates to be auctioned in Vietnam on January 8, 2024 is issued with Notice 65/2023/TB-VPA. In the upcoming auction on January 8, 2024, there will be a total of 7,000 beautiful license plates to be auctioned.
> See the detailed list of motor vehicle license plates to be auctioned in Vietnam on January 8, 2024: here
Source: Ministry of Public Security e-commerce portal
What is the duration of the motor vehicle license plate auction in Vietnam?
According to Notice 65/2023/TB-VPA, the auction duration shall be 30 minutes/01 license plate.
The schedule for online motor vehicle license plate auctions from January 8, 2024 is specified as follows:
- Morning: The schedule of the online motor vehicle license plate is as follows:
+ From 8h00 - 8h30;
+ From 8h45 - 9h15;
+ From 9h30 - 10h00;
+ From 10h15 - 10h45;
+ From 11h00 - 11h30.
- Afternoon: The schedule of the online motor vehicle license plate is as follows:
+ From 13h30 - 14h00;
+ From 14h15 - 14h45;
+ From 15h00 - 15h30;
+ From 15h45 - 16h15;
+ From 16h30 - 17h00.
What are the regulations on the management and use of revenues from auctions of motor vehicle license plates in Vietnam?
Under the provisions in Article 22 of Decree 39/2023/ND-CP, as follows:
Management and use of auction revenues
1. The Ministry of Public Security shall open collection accounts at banks, foreign bank branches to collect winning bid. Interests (if any) of balance of collection account of the Ministry of Public Security shall be submitted to the state budget.
2. Revenues generated by auctioning license plates minus organizing costs (hereinafter referred to as “auction revenues”) and interests (if any) of balance of collection accounts of the Ministry of Public Security shall be declared, submitted, and finalized with tax authority. Tax authority shall manage declaration, submission, and finalization of the revenues in accordance with tax laws.
a) The Ministry of Public Security (or agencies assigned by the Ministry of Public Security to manage collection and submission of auction revenues) must declare and submit auction revenues of the previous month to tax authority (using form No. 01/DG attached hereto) by the end of the 20th of each month. The Ministry of Public Security (or agencies assigned by the Ministry of Public Security to manage collection and submission of auction revenues) shall finalize auction revenues on an annual basis (using Form No. 02/DG attached hereto) in accordance with tax administration laws;
b) Auction revenues shall be entirely submitted to central government budget;
c) Interests (if any) of balance of collection account of the Ministry of Public Security and auction revenues of the month shall be submitted to the state budget;
d) The Ministry of Public Security is responsible for determining and approving auction organizing costs which serve as the basis for determining auction revenues submitted to the state budget.
3. When producing annual state budget estimates, depending on actual progress and expenditure demand, the Ministry of Public Security shall develop estimates equivalent to 30% of auction revenues submitted to the state budget in the previous year for the purpose of maintaining traffic order and safety, preventing and fighting crime, investing in infrastructure, providing training for officials in charge of registration and management of road vehicles, maintaining security and order, submitting to the Ministry of Finance to request competent authority to allocate funding for implementation in annual state budget estimates of the Ministry of Public Security in accordance with the Law on State Budget and relevant law provisions.
4. In addition to Clauses 1, 2, and 3 of this Article, the management and use of auction revenues must also comply with state budget laws, fee and charge laws, and relevant law provisions.
Thus, the management and use of revenues from auctions of motor vehicle license plates in Vietnam are specified above.
Revenues generated by auctioning license plates minus organizing costs (hereinafter referred to as “auction revenues”) and interests (if any) of the balance of collection accounts of the Ministry of Public Security shall be declared, submitted, and finalized with tax authority.
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