Organisations dealing in production and business activities will have to pay business fees from VND1 million to VND3 million per year from 2017, according to a new decree. -- Illustrative photo vcci.com.vn

HA NOI (Biz Hub) — Organisations dealing in production and business activities, with a charter or investment capital of more than VND10 billion (US$444,440), must pay a business fee of VND3 million per year.

This is stipulated by Decree No 139/2016/ND-CP which was issued on Tuesday and will take effect on January 1 next year.

The decree requires organisations with a charter or investment capital of less than VND10 billion to pay a fee of VND2 million per year.

For branches and representative offices of the organisations, or non-productive units, the annual fee is VND1 million.

The decree states that individuals and households involved in production and business activities generating annual revenues of more than VND500 million must pay a fee of VND1 million per year.

Individuals and households with annual revenues of VND300 million to VND500 million, are subject to a fee of VND500,000 per year.

Those with annual revenues of VND100 million to VND300 million will pay VND300,000 per year.

All fees will be cut in half if the organisations, individuals and households are granted tax or business registration codes during the second half of the year.

The decree stipulates that individuals and households with annual revenues of VND100 million or less will not be charged any fees.

Individuals and households engaging in irregular production and business activities, or those producing salt, will also be exempt from paying fees.

Other groups expempt from paying fees include: organisations, individuals and households cultivating and catching seafood, or providing fishery logistics services; press agencies; and cooperatives dealing in agricultural production services. — VNS