Regulation on the Contribution Payment to the Public Telecommunications Service Fund for Enterprises

Contribution regime to the Public Telecommunications Service Fund for Enterprises - Illustration

At Article 4 of Circular 57/2016/TT-BTC stipulates the policies for collecting contributions to the Vietnam Public Telecommunications Service Fund for telecommunications enterprises providing services and having network infrastructure, and telecommunications enterprises providing incoming international telephone services but not having a license to establish telecommunications networks operating legally in Vietnam as follows:

1. Based on the implementation situation of the year and the business plan of the planning year, enterprises are responsible for formulating the financial contribution plan for the planning year to the Fund together with the financial plan of the planning year of the enterprise, divided by quarters, and sending it to the Fund and the Ministry of Information and Communications. The deadline for sending the plan is no later than September 30 annually.

For 2016, enterprises shall formulate the financial contribution plan divided by quarters, and send it to the Fund and the Ministry of Information and Communications before June 1, 2016.

2. Based on the financial contribution plan divided by quarters notified by the Fund, enterprises are responsible for depositing money into the Fund's accounts by quarters. The deadline for payment is no more than 20 days (for Companies) and 45 days (for Corporations, General Companies) from the end of the quarter.

For 2016, based on the financial contribution plan notified by the Fund, enterprises shall deposit contributions for the first two quarters of 2016 into the Fund's accounts by August 15, 2016.

3. At the end of the financial year, based on the telecommunications service revenue report stipulated in Article 8 of Circular 21/2013/TT-BTTTT and the annual finalized revenue, enterprises shall determine the amount to be contributed for the year as stipulated in this Circular, send it to the Fund, and finalize the financial contribution with the Fund. The finalization shall be carried out within 30 days (for Companies) and 90 days (for Corporations, General Companies) from the end of the financial year.

Enterprises must pay the remaining amount to the Fund within 30 days from the finalization date with the Fund. If enterprises have overpaid the Fund, the excess amount shall be deducted from the amount payable for the next period or be refunded by the Fund if the enterprise ceases to provide services subject to financial contributions to the Fund. The Fund shall refund the enterprise within 15 days from the finalization date with the Fund.

For 2015, based on the telecommunications service revenue report stipulated in Article 8 of Circular 21/2013/TT-BTTTT and the annual finalized revenue, enterprises shall determine the amount to be contributed for the year as stipulated in this Circular, send it to the Fund, and finalize the financial contribution with the Fund before June 30, 2016.

In case of violations of the contribution policies collected and submitted to the Fund as stipulated in Circular 57/2016/TT-BTC, enterprises shall be handled in accordance with the provisions of Decree 174/2013/ND-CP dated November 13, 2013, of the Government of Vietnam, prescribing administrative penalties in the field of post, telecommunications, information technology, and radio frequency.

4. Contributions of telecommunications enterprises to the Fund stipulated in Circular 57/2016/TT-BTC are considered expenses for fulfilling the obligation to provide public telecommunications services of the enterprise and are accounted for in the business expenses of the enterprise.

Enterprises must statistically track and record separately the revenue of the services subject to contributions mentioned in Article 3 of Circular 57/2016/TT-BTC and are responsible for promptly submitting contributions in compliance with the regulations.

5. The financial contributions of enterprises as stipulated shall be paid in Vietnamese Dong into the Fund's account.

6. Enterprises are responsible for providing data, documents, and explanations regarding the fulfillment of financial contribution obligations to the Fund.

Details of the content are in Circular 57/2016/TT-BTC, effective from May 15, 2016.

Le Vy

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