Key Dates
  • October 20: opening of the 2nd Session of the XIV National Assembly of Vietnam
  • October 30: quarterly CIT return due

Business

Decree on Business License Fee

Decree No. 139/2016/ND-CP dated 4 October 2016 of the Government has amended the annual business license fee.

The business license fee applicable to individuals and household businesses are lower and based on their revenue.

Business entities that have made a business license fee filing before 1 January 2017 do not need to submit any future filing if there is no change to their capital or revenue, as the case may be. The business entity will only need to pay its current annual rate to the State treasury.

Administration

Registration Fee

On 10 October 2016, the Government issued Decree No. 140/2016/ND-CP to replace Decree No. 45/2011/ND-CP (as amended by Decree No. 23/2013/NDCP) on registration fees (akin to stamp duties) applicable to certain property registrations (“Decree 140”). New provisions under Decree 140 are:

  • Aircrafts used for non-commercial purpose shall also be subject to registration fee, which is 1% of the actual purchase price in the market.
  • Assets purchased by a finance company and then leased back to the seller shall be exempt from registration fee. The same applies to fishing vessels.
  • Registration fees for cars under nine seats, aircrafts and yachts shall no longer be capped at VND500million.
Decree 140 takes effect as of 1 January 2017.
For more information, click Asia Counsel Insights 20 October 2016.

 

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