Legal Counselling

Vietnam’s Decree No. 22/2020/NĐ-CP: Time limit for payment of licensing fees from February 25, 2020

15:33, 25/02/2020

This is a featured content of Decree No. 22/2020/NĐ-CP providing amendments to Decree No. 139/2016/NĐ-CP dated October 04, 2016 of Vietnam’s Government on licensing fees.

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According to Decree No. 22/2020/NĐ-CP of Vietnam’s Government amending and supplementing regulations on the time limit for payment of licensing fees specified in Clause 4 Article 5 of Decree No. 139/2016/NĐ-CP:

The license fee must be fully paid by January 30 of every year. However:

- Upon the end of the period of exemption from the license fee (from the fourth year from the date of establishment), a SME transformed from a household business (including its branches, representative offices and/or business locations) shall pay the license fee as follows:

+ If its exemption period ends in the first 6 months of a year, it must pay the license fee by July 30 of the same year.

+ If its exemption period ends in the last 6 months of a year, it must pay the license fee by January 30 of the following year.

- A household business, an individual or a group of individuals engaging in production/business that resumes its production/business after a suspension period shall pay the license fee as follows:

+ If it resumes its production/business in the first 6 months of a year, it must pay the license fee by July 30 of the same year.

+ If it resumes its production/business in the last 6 months of a year, it must pay the license fee by January 30 of the following year.

View full text at Decree No. 22/2020/NĐ-CP of Vietnam’s Government effective from February 25, 2020.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

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