Vietnam: Guidelines for declaration and submission of the fees for verification of eligibility for the practice of commercial arbitration

11:45, 14/11/2016

On November 10, 2016, the Ministry of Finance of Vietnam issued Circular No. 222/2016/TT-BTC on the rate, collection, submission, administration and use of the fees for verification of eligibility for the practice of commercial arbitration.

According to Circular No. 222/2016/TT-BTC of the Ministry of Finance of Vietnam, declaration and submission of the fees for verification of eligibility for the practice of commercial arbitration shall be carried out as follows:

- On no later than the fifth of each month, the fee collectors shall deposit the fee amount collected in the previous month into the budgetary contribution account at the State Treasury.

- The fee collection agency shall declare and finalize the fees collected on monthly and annual basis, respectively, according to the guidelines in Section 3, Article 19 and Section 2, Article 26 of Circular No. 156/2013/TT-BTC on guidelines for the implementation of certain articles of the Law of tax administration; the Law on amendments to certain articles of the Law of tax administration and Decree No. 83/2013/ND-CP.

View detailed fees for verification at Circular No. 222/2016/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2017.

- Thanh Lam -

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