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New policy in Vietnam: Reduce 50% of fees and charges for securities ervices

May 12, 2020 | 17:04

On May 7, 2020, the Ministry of Finance issued Circular No. 37/2020/TT-BTC stipulating the level of collection, payment of fees and charges in the field of securities in order to urgently support the subjects affected by Covid-19. Accordingly, Circular 37 reduced 50% of fees and charges in the field of securities.

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new policy in vietnam reduce 50 of fees and charges in the field of securities
Up to 20/22 securities fees and charges are reduced by 50%. (Photo: Financial Magazine)

According to Circular No. 37/2020/TT-BTC, from May 7, 2020 to the end of December 31, 2020, up to 20/22 securities fees and charges are reduced by 50% compared to the rate specified in the Table of charge and fee rates in the securities domain, issued together with the Finance Ministry's Circular No. 272/2016/TT-BTC of November 14, 2016, defining the rates, collection and remittance regime, management and use of fees and charges in the field of securities.

Particularly, the rates of fees for granting practicing certificates for individuals engaged in securities activities and fees for supervision of securities activities shall still comply with the provisions of the Table of charge and fee rates in the field of securities, issued together with Circular No. 272/2016/TT-BTC, reported by Financial Magazine.

new policy in vietnam reduce 50 of fees and charges in the field of securities
The reduction of securities fees and charges will continue to support the stock market's stability and growth (Photo: Financial Times).

This Circular takes effect from May 7, 2020 to the end of December 31, 2020.

From 01/01/2021 onwards, all fees and charges will comply with the Schedule of fees and charges in the field of securities issued together with Circular No. 272/2016/TT-BTC, according to Financial Times.

The reduction of service prices, fees and charges in the securities sector in the current context will continue to support the stock market to grow again, stabilizing the psychology of investors.

Contents of scope of adjustment, subjects of application, organization of collection, declaration, collection, payment, management, use, receipts, publicization of charge and fee collection regime and other relevant contents not specified in this Circular shall comply with the provisions of Circular No. 272/2016/TT-BTC.

In the course of implementation, if any problems arise, organizations and individuals are requested to promptly report them to the Ministry of Finance for study and additional guidance, reported by Vietnam Law.

This new policy is one of the efforts made by the Government to support enterprises from the negative impact of Covid-19 pandemic and stabilize the domestic economy.

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