The Ministry of Finance has just issued Circular No 25/2022/TT-BTC dated April 28 regulating charge and fee rates, collection, management and uses in the securities sector. The new circular is to replace Circular No 272/2016 and takes effect starting from July 1.
The circular supplements the collection of fee rates for supervising derivatives activities. Of which, fee rates of supervising derivatives activities for Vietnam Securities Depository (VSD) is 10 per cent of revenues from position management services or clearing services and escrow management services.
Similarly, fee rates for supervising derivatives activities for stock exchanges are 10 per cent of revenues from derivatives trading services.
The circular also supplements fee rates for supervising securities activities for reimbursing banks. Of which, the fee rate for stocks, fund certificates and covered warrants is 0.001 per cent of clearing prices, net payment/settlement day, with a maximum of VND1 million per day (US$43.56 a day).
Meanwhile, the fee rate for corporate bonds is 0.0001 per cent of clearing prices, net payment/settlement day, with a maximum of VND100,000 a day.
Some charges and fees are unchanged such as fee rates of licence for establishment and operation for securities companies are VND20-100 million per licence; licence for establishment and operation for investment fund management companies and securities investment companies is VND30 million.
The circular says fee payers have to submit all charges and fees after being granted securities operation licences and certificates for the State Securities of Viet Nam (SSC).
Periodically, every Monday, which is the latest date, fee collecting organisations have to deposit all collected fees in the previous week into an account opened at the Viet Nam State Treasury.
Fee collecting organisations have to declare and submit collected fees and charges each month and finish the settlement for the whole year in accordance with the Tax Administration Law and Decree on elaboration of the Law on Tax administration.
The organisations have to submit 30 per cent of collected fees and 100 per cent of collected charges into the State budget, while they can keep 70 per cent of collected fees for uses according to decree detailing and guiding the implementation of a number of articles of the Law on fees and charges. — VNS