Legal Counselling

Vietnam: 06 cases of exemption from fees on secured transactions

14:51, 13/11/2016

This is a notable content specified in Circular No. 202/2016/TT-BTC of the Ministry of Finance of Vietnam on the rate, collection, submission, administration and use of the fees on secured transactions.

According to Circular No. 202/2016/TT-BTC of the Ministry of Finance of Vietnam, the fees on secured transactions are exempted in the following circumstances:

- Individuals and households taking out loans from credit institutions for agricultural and rural development as defined in Article 4 and Article 9 of Decree No. 55/2015/ND-CP of Vietnam’s Government.

- Request for revision to errors, at the registrar’s fault, in the registration of the secured transaction or contract.

- Notification of the distrainment of assets for sentence enforcement, request for revision to or removal of the enforcement officer's notification as per the laws.

- Revision to the information of the organization or individual given the code of access to the secured transaction database.

- Enforcement officer's request for information on the assets distrained.

- Request by an investigator, procurator or judge for information concerning procedural activities.

View more details at Circular No. 202/2016/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2017.

- Thanh Lam -

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