Decree stipulates business fee structure

Organisations dealing in production and business activities, with a charter or investment capital of more than VNĐ10 billion (US$444,440), must pay a business fee of VNĐ3 million per year.

This is stipulated by Decree No 139/2016/NĐ-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 VNĐ10 billion to pay a fee of VNĐ2 million per year.

For branches and representative offices of the organisations, or non-productive units, the annual fee is VNĐ1 million.

The decree states that individuals and households involved in production and business activities generating annual revenues of more than VNĐ500 million must pay a fee of VNĐ1 million per year.

Individuals and households with annual revenues of VNĐ300 million to VNĐ500 million, are subject to a fee of VNĐ500,000 per year.

Those with annual revenues of VNĐ100 million to VNĐ300 million will pay VNĐ300,000 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 VNĐ100 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

Source: VNS