The Vietnamese Ministry of Finance has just issued a circular stipulating the collection and extension of a number of fees and charges in order to help those financially affected by COVID-19 get through difficulties.

Accordingly, 37 fees and charges will be reduced by 10 - 50% as compared to current regulations such as fees for licensing the establishment and operation of banks and the granting of practice certificates for industrial property representatives.

The new point of the circular is that the Ministry of Finance adds three additional fees and charges to the list of those reduced from January 1, raising the total from 34 to 37.

Specifically, there will be a 50% reduction in the fee for issuing certificates of technical safety and environmental protection for motor vehicles and special-use motorcycles, a 50% decrease in inland waterway reporting fees and 20% off on charges for the use of radio frequencies for terrestrial mobile services.

The circular takes effect from January 1, 2022 to June 30, 2022.

From July 1, 2022 onwards, the fees and charges specified in Circular 120/2021/TT-BTC will comply with the current regulations.

Reporting by M.QUE – Translating by A. THU