CIRCULAR

PRESCRIBING FEES AND CHARGES PAYABLE IN SECURITIES SECTOR, COLLECTION, TRANSFER, MANAGEMENT AND USE THEREOF

Pursuant to the Law on fees and charges dated November 25, 2015;

Pursuant to the Law on state budget dated June 25, 2015;

Pursuant to the Law on Securities dated November 26, 2019;

Pursuant to the Government's Decree No. 155/2020/ND-CP dated December 31, 2020 on elaboration of the Law on Securities;

Pursuant to the Government’s Decree No. 158/2020/ND-CP dated December 31, 2020 prescirbing derivatives and derivatives market;

Pursuant to the Government's Decree No. 120/2016/ND-CP dated August 23, 2016 on elaboration of the Law on fees and charges;

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Pursuant to the Government’s Decree No. 135/2015/ND-CP dated December 31, 2015 prescribing outward indirect investment;

Pursuant to the Government’s Decree No. 87/2017/ND-CP dated July 26, 2017 defining functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Decision No. 29/2009/QD-TTg dated February 20, 2009 of the Prime Minister prescribing exercise of autonomy in terms of payroll and operating funding of the State Securities Commission of Vietnam;

At the request of the Director of the Tax Policy Department;

The Minister of Finance promulgates a Circular prescribing fees and charges payable in securities sector, collection, transfer, management and use thereof.

Article 1. Scope and regulated entities

1. This Circular provides for the fees and charges for management and supervision of securities activities, issuance of licenses or certificates in securities sector, collection, transfer, management and use thereof by the State Securities Commission of Vietnam (SSC).

2. This Circular applies to payers, collector and other organizations and individuals involving in collection and transfer of fees and charges in securities sector.

Article 2. Payers and collector

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2. Payers are organizations and individuals that perform securities activities specified in the Schedule of fees and charges enclosed herewith.

Article 3. Fees and charges

Fees and charges for management and supervision of securities activities, and issuance of licenses or certificates in securities sector are prescribed in the Schedule of fees and charges enclosed herewith.

Article 4. Declaration and payment of fees and charges by payers

1. Fees and charges in securities sector shall be paid in VND.

2. Payment of charges: Payers shall pay entire charges payable when being issued with licenses or certificates in securities sector to SSC.

3. Payment of fees for supervision of securities activities: Hanoi Stock Exchange and Ho Chi Minh Stock Exchange (hereinafter referred to as “SEs”), Vietnam Securities Depository and Clearing Corporation (VSDC), and settlement banks shall pay supervision fees to SSC on a quarterly basis by the last day of the first month of the following quarter.

4. Unlisted or unregistered public companies shall pay management fees once when they are issued with certificate of completion of public company registration by SSC.

5. Payment of fees for management of open-end funds

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- If the certificate is issued between January 01 and June 30 of each year, the fee payable is VND 10 million/fund.

- If the certificate is issued between July 01 and December 31 of each year, the fee payable is VND 5 million/fund.

b) For the subsequent years, the fee payable is VND 10 million/fund; payment time limit: December 01 – 31 of each year.

Article 5. Declaration and transfer of fees and charges by collector

1. Not later than Monday every week, the collector shall transfer the entire amount of fees collected in the previous week to the dedicated state budget account opened at the State Treasury.

2. The collector shall monthly declare and transfer collected fees and charges to state budget, and make annual statements of collected fees and charges in accordance with regulations of the Law on tax administration and the Government’s Decree No. 126/2020/ND-CP dated October 19, 2020. The collector shall pay 30% of total amount of collected fees and 100% of total amount of collected charges to state budget according to chapters and sub-items of the applicable State Budget Entries.

Article 6. Management and use of fees

The collector shall be allowed to retain and use 70% of total amount of collected fees in accordance with regulations of the Government’s Decree No. 120/2016/ND-CP dated August 23, 2016, the Decision No. 29/2009/QD-TTg dated February 20, 2009, and the Circular No. 104/2009/TT-BTC dated May 25, 2009.

Article 7. Effect

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2. The Circular No. 272/2016/TT-BTC dated November 14, 2016 of the Minister of Finance prescribing fees and charges payable in securities sector, collection, transfer, management and use thereof.

3. The organizations that have been issued with certificates of completion of public company registration by SSC before the effective date of this Circular but have yet to be listed and registered shall pay fees in accordance with regulations of the Circular No. 272/2016/TT-BTC until the end of the month preceding the effective month of this Circular.

4. Other contents concerning the collection, transfer, management and use of fees and charges, receipts, and disclosure of regulations on collection of fees and charges in securities sector shall comply with regulations of the Law on fees and charges, the Decree No. 120/2016/ND-CP, the Law on tax administration, the Decree No. 126/2020/ND-CP, the Government’s Decree No. 11/2020/ND-CP dated January 20, 2020, the Government’s Decree No. 123/2020/ND-CP dated October 19, 2020, the Circular No. 78/2021/TT-BTC dated September 17, 2021 of the Minister of Finance, and the Government’s Decree No. 123/2020/ND-CP dated October 19, 2020.

5. Before VSDC officially starts its operation in accordance with the Law on Securities No. 54/2019/QH14,Vietnam Securities Depository (VSD) shall pay supervision fees incurred by VSDC as prescribed in this Circular.

6. If any documents referred to in this Circular are amended, supplemented or superseded, the new ones shall apply.

7. Difficulties that arise during the implementation of this Circular should be promptly reported to the Ministry of Finance for consideration.

PP MINISTER
DEPUTY MINISTER




Vu Thi Mai

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