50% Reduction in Some Securities Trading Fees

In response to the Prime Minister’s Directive 11/CT-TTg, the State Securities Commission of Vietnam (SSC) has submitted to the Ministry of Finance a proposal on fee and charge exemption and reduction in securities trading to support entities affected by the Covid-19 epidemic.

Based on current laws on fees and charges, the Ministry of Finance has elaborated and consulted ministries, ministerial-level agencies, the Vietnam Chamber of Commerce and Industry on a draft circular on exemption and reduction of securities fees and charges.

Accordingly, organizations and individuals will enjoy a 50% reduction of 19 fees and charges: Issuing operation certificate to securities companies; issuing operation certificates for securities investment fund management companies and securities investment companies; issuing operation certificates for open-end funds, ETFs, closed funds, real estate investment funds and public funds; issuing operation certificates for member funds; and issuing operation certificates for securities companies' branches, foreign securities investment fund management companies in Vietnam. The Ministry of Finance will also slash 50% of management fees for unlisted public companies. The fee for open fund management is expected to be VND5 million a year.

Other contents related to collection, payment, management, use, collection receipt and publicization of charge and fee collection regimes are not mentioned in the draft circular but still compliant with Circular 272.

Source: Vietnam Business Forum