Additional fee for setting up trade promotion office

07:52 | 04/10/2016 Regulations Follow english.haiquanonline.com.vn on

VCN- The Ministry of Finance has issued Circular 143/2016/TT-BTC prescribing the rates, declaration, collection and establish license payment fees for representative offices of organizations promoting foreign trade and foreign traders in Vietnam.

additional fee for setting up trade promotion office

Illustrated photo Source: internet.

Accordingly, besides foreign trader listed in the current regulation, the Ministry of Finance had added trade promotion organizations that need to pay the establishment license payment fees for representative offices in Viet Nam.

The amount of fees to establish representative offices of foreign trade promotion organizations and foreign traders in Vietnam is 3 million vnd per one new license and 1.5 million vnd per one reissued, amended, supplemented, or extended license.

Organizations that collect fees shall declare, collect, remit the fees under the guidance of Decree No.120/2016/ND-CP of Government regulations detailing and guiding the implementation of some articles of the Law on Fees and Charges; Circular No. 156/2013/TT-BTC of the Ministry of Finance guiding the implementation of some articles of the Law on Tax Administration; Law amending and supplementing some articles of the Law on Tax Administration and Decree No. 83/2013 / ND-CP of the Government.

Organizations that collect fees must return 100% of the fees to the State budget according to catalogue of the current State budget. Expenditures related to the organization of the collection of fees and licenses for established representative offices of organizations promoting foreign trade, and foreign traders in Vietnam are provided by the State budget according to the approved annually estimated costs.

Regulations on the declaration, collection and payment of fees and charges

The Circular takes effect from January 1, 2017 and replaces Circular No.133/2012/TT-BTC of the Ministry of Finance for the collection, payment, management and use of license fees set up by representative offices of foreign traders in Vietnam; Circular No. 187/2012/TT-BTC of the Ministry of Finance for the collection, payment, management and licensing fees established by representative office of trade promotion organizations overseas in Vietnam.

By Ngoc Linh/Hoang Loan

Tags:

finance collection license fees foreign trade

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