What are the sources of finance for the Intellectual Property Office of Vietnam?

What are the sources of finance for the Intellectual Property Office of Vietnam? (Internet image)

According to Article 2 of Circular 158/2010/TT-BTC, the sources of finance for the Intellectual Property Office of Vietnam are as follows:

- Fees and charges for industrial property rights;

The rates of fees and charges for industrial property rights are implemented in accordance with the regulations of the Ministry of Finance (Circular 22/2009/TT-BTC dated February 4, 2009 of the Ministry of Finance on the rates, collection regime, payment, management, and use of fees and charges for industrial property rights). The revenue from fees and charges is allocated as follows:

• The Intellectual Property Office of Vietnam retains 85% of the revenue from fees and charges for industrial property rights to serve its activities and invest in the development of intellectual property.

• The Intellectual Property Office of Vietnam is responsible for remitting 15% of the fees and charges for industrial property rights to the state budget: Monthly and at the end of each fiscal year, the unit is responsible for declaring, remitting, and settling 15% of the fees and charges collected to the state budget according to the corresponding chapters, categories, and items in the current state budget index.

- Non-recurring funds allocated from the state budget (if any);

• Funds for implementing state-level scientific and technological tasks, ministry-level tasks, and national target programs;

• Funds for implementing tasks ordered by competent state agencies (investigation, planning, survey, other tasks);

• Funds for implementing authorized emergency tasks;

• Funds for implementing streamlining policies as prescribed by the state;

• Funds for implementing training and development programs for officials and public employees;

• State-owned concentrated basic construction investment capital;

• Counterpart funds for implementing projects authorized by competent authorities;

- Foreign aid sources;

- Revenue from service activities as regulated by law;

- Other legal sources of revenue (if any).

More details can be found in Circular 158/2010/TT-BTC, which comes into force from November 26, 2010.

Nguyen Phu

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