Vietnam: Guidance on management of fees for providing information about enterprises, charges for business registration

According to Article 7 of Circular No. 47/2019/TT-BTC of the Ministry of Finance of Vietnam, fees for providing information about enterprises, charges for business registration shall be managed as follows:

First: The Enterprise Registration Support Center is entitled to keep 85% of the collected amount of fees for providing information about enterprises to cover expenditures prescribed in Article 5 of Decree No. 120/2016/NĐ-CP of Vietnam’s Government. 15% of fees collected shall be paid to the State budget according to the applicable State budget entries.

Second: Regarding the collecting authority being Departments of Planning and Investment:

- The collecting authority shall transfer 70% of the collected amount of fees for providing information about enterprises to the account of the Enterprise Registration Support Center. The transfer shall be made monthly. 30% of fees collected shall be paid to the State budget according to the applicable State budget entries. Expenses associated with implementation and collection of fees shall be covered as specified in the collecting agency’s estimates according to regime and limits of State budget expenditures in accordance with regulations of law.

- As for the collecting authority being state agencies prescribed in Clause 1 Article 4 of Decree No. 120/2016/NĐ-CP, such authority shall transfer 70% of collected amount of fees for providing information about enterprises to the account of Enterprise Registration Support Center. The transfer shall be made monthly. 30% of the amount of fees collected to cover expenses prescribed in Article 5 of Decree No. 120/2016/NĐ-CP.

- The amount of fees for providing information about enterprises transferred by Departments of Planning and Investment to the Enterprise Registration Support Center is considered 100% and shall be allocated as follows: The Enterprise Registration Support Center is entitled to keep 85% of such amount to cover expenditures prescribed in Article 5 of Decree No. 120/2016/NĐ-CP. 15% of such amount shall be paid to State budget according to the applicable State budget entries.

Third: The collecting authorities of charges shall pay 100% of charges collected to the State budget according to the applicable State budget entries. Expenses associated with collection of charges shall be covered as specified in the collecting agency’s estimates according to regime and limits of State budget expenditures in accordance with regulations of law.

View more details at Circular No. 47/2019/TT-BTC of the Ministry of Finance of Vietnam, effective from September 20, 2019.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE