The Ministry of Finance has just issued Circular No. 43/2024/TT-BTC regulating the collection rates of a number of fees and charges to continue to remove difficulties and support production and business activities.

Accordingly, from July 1, 2024 to December 31, 2024, the Ministry of Finance will reduce 50% of the fee for granting a license to establish and operate a bank.

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The Ministry of Finance proposed a 10-50% reduction in 36 fees and charges from July 1. Photo: Hoang Ha

The Ministry of Finance also applies a 50% reduction on fees for issuing citizen identification cards; fees for issuing licenses for the establishment and operation of non-bank credit institutions; fees for submitting applications for intellectual property protection; fees for issuing certificates of practice for industrial property representation, publishing and registering industrial property representation; fees for assessing the content of non-business documents to issue publishing licenses; fees for granting licenses to import non-business publications; fees for registering the import of publications for business purposes...

In addition, the Ministry of Finance also reduced by 50% the appraisal fee for approving fire prevention and fighting designs; the fee for granting a license to send workers to work abroad for a limited period of time; industrial property fees; the fee for using railway infrastructure; the appraisal fee for granting an international travel service business license, a domestic travel service business license; the appraisal fee for granting a tour guide card, etc.

In this circular, the Ministry of Finance also reduces by 10 - 30% many fees and charges, such as: appraisal fees for granting certificates, licenses, and permits in civil aviation activities; granting permits to enter and exit restricted areas at airports; fees for entering and exiting airports for foreign flights to Vietnamese airports; and customs fees for foreign flights to Vietnamese airports.

The Ministry of Finance also reduced 50% of fees and charges in the securities sector (except for 2 fees and charges: fees for new issuance, exchange, re-issuance of securities practice certificates for individuals practicing securities at securities companies, securities investment fund management companies and securities investment companies and fees for supervising securities activities...

From January 1, 2025 onwards, the collection of fees and charges specified in the above table shall be implemented according to the provisions of the original circulars, Circular No. 63/2023/TT-BTC and amended, supplemented or replaced circulars (if any).

This Circular takes effect from July 1, 2024 to December 31, 2024.

This is the fourth time, under its authority, the Ministry of Finance has issued a circular stipulating a reduction in fees and charges from 10-50%.

The Ministry of Finance calculates that the budget will reduce revenue by about 700 billion VND this year from reducing these fees and charges.

According to authorities, this reduction in fees will help businesses and people stabilize production and business, contributing to economic recovery and growth.

Proposal to reduce 50% of registration fees for domestically assembled cars The Ministry of Finance proposes to reduce 50% of registration fees for domestically produced and assembled cars for 6 months, from August 1, 2024 to January 31, 2025.