What are the regulations on management and use of revenues collected from auction of motor vehicle license plates in Vietnam? Where are the places for submission of winning bid?
- What are the regulations on management and use of revenues collected from auction of motor vehicle license plates in Vietnam?
- What is the prescribed time limit for submission of winning bid for auction of motor vehicle license plates in Vietnam?
- Vietnam: What does the notice on winning auction include?
What are the regulations on management and use of revenues collected from auction of motor vehicle license plates in Vietnam?
Article 22 of Decree 39/2023/ND-CP stipulates the management and use of auction revenues as follows:
- 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.
- 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.
+ 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;
+ Auction revenues shall be entirely submitted to central government budget;
+ 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;
+ 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.
- 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.
- In addition to Clauses 1, 2, and 3 of Article 22 of Decree 39/2023/ND-CP, the management and use of auction revenues must also comply with state budget laws, fee and charge laws, and relevant law provisions.
What are the regulations on management and use of revenues collected from auction of motor vehicle license plates in Vietnam? Where are the places for submission of winning bid? (Image from the Internet)
What is the prescribed time limit for submission of winning bid for auction of motor vehicle license plates in Vietnam?
Pursuant to the provisions of Article 16 of Decree 39/2023/ND-CP, regulations on submission of winning bid are as follows:
Within 15 days from the date on which notice on winning auction is issued, auction winners must submit the winning bid minus their deposits to collection account of the Ministry of Public Security opened in banks, foreign bank branches. Winning bid does not include vehicle registration charges.
Thus, the deadline for submission of winning bid for the car license plate auction is within 15 days from the date on which notice on winning auction is issued. Auction winners must submit the winning bid minus their deposits to collection account of the Ministry of Public Security opened in banks, foreign bank branches. Winning bid does not include vehicle registration charges.
Vietnam: What does the notice on winning auction include?
Pursuant to Article 15 of Decree 39/2023/ND-CP stipulates:
Notice on winning auction
1. The Ministry of Public Security shall send notice on winning auction to email address and text messages to registered phone number of auction winners after approving auction results; notice on winning auction which serves as an alternative to contracts for sale of auction property or contract for sale of state property.
2. Notice on winning auction consists of: The license plate for auction, name and ID code of individual or organization (if the organization has not been issued with ID code, specify TIN or number of decision on establishment), address of auction winner, winning bid, amount payable, collection account number of the Ministry of Public Security opened in banks, foreign bank branches for deposits, time limit for submitting winning bid, cancellation of auction results in case of failure to submitting the winning bid as per the law.
Thus, notice on winning auction will be sent to email address and text messages to registered phone number of auction winners after approving auction results.
And the content of notice on winning auction includes information as prescribed above.
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