Viet Nam News

Changes in charge, fee rates for supervisin­g derivative­s activities

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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 VNĐ1 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 VNĐ100,000 a day.

Some charges and fees are unchanged such as fee rates of licence for establishm­ent and operation for securities companies are VNĐ20-100 million per licence; licence for establishm­ent and operation for investment fund management companies and securities

Similarly, fee rates for supervisin­g derivative­s activities for stock exchanges are 10 per cent of revenues from derivative­s trading services.

investment companies is VNĐ30 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 Việt 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 Việt 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.

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