Circular No. 09/2014/TT-BTC stipulates the level of collection, collection regime, payment, management, and use of fees for auctioning shares and securities as prescribed by the Securities Law.

CIRCULAR

Regulations on the level of collection, collection system, payment, management, and use of fees for auctioning shares and securities as prescribed by the Securities Law

Pursuant to the Securities Law No. 70/2006/QH11 dated June 29, 2006; Law No. 62/2010/QH12 amending and supplementing certain articles of the Securities Law dated November 24, 2010;

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Pursuant to the Ordinance on Fees and Charges No. 38/2001/PL-UBTVQH10 dated August 28, 2001;

Pursuant to Decree No. 58/2012/NĐ-CP dated July 20, 2012 of the Government detailing and guiding the implementation of certain provisions of the Securities Law and the Law amending and supplementing certain provisions of the Securities Law;

Pursuant to Decree No. 57/2002/NĐ-CP dated June 3, 2002 and Decree No. 24/2006/NĐ-CP dated March 6, 2006 of the Government detailing the implementation of the Ordinance on Fees and Charges;

Pursuant to Decree No. 59/2011/NĐ-CP dated July 18, 2011 of the Government on converting state-owned enterprises with 100% state capital into joint-stock companies;

BASED ON Decree No. 17/2010/NĐ-CP dated March 4, 2010 of the Government on auctioning assets;

The Minister of Finance issues this Circular prescribing the level of collection, collection system, payment, management, and use of fees for auctioning shares and securities as prescribed by the Securities Law, as follows:

Pursuant to Decree No. 71/2013/NĐ-CP dated July 11, 2013 of the Government on state capital investment in enterprises and financial management of enterprises wholly owned by the state;

Pursuant to Decree No. 215/2013/NĐ-CP dated December 23, 2013, promulgated by the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

At the proposal of the Director of the Policy Department;

1. The fee for auctioning shares and securities prescribed in this Circular shall apply to the auctioning of shares and securities as prescribed by the Securities Law (hereinafter referred to as the fee for auctioning securities) at the Stock Exchange and organizations permitted to organize the auctioning of shares and securities under the law.

Article 1. Scope and Applicability

2. The entity subject to the fee for auctioning securities is enterprises, organizations, and individuals holding shares and securities that are auctioned according to the law.

3. The entities authorized to collect the fee for auctioning securities include: the Stock Exchange and organizations permitted to auction shares and securities according to the law.

1. The level of collection of the fee for auctioning securities at the Stock Exchange is 0.3% of the total value of shares/every type of security actually sold, with a maximum of VND 300 million per auction of shares/every type of security.

Article 2. Level of Collection

The value of shares and securities actually sold for calculating the fee collection for one auction includes the value sold through direct negotiation with investors who have participated in the auction (in cases where the agreement sale continues with the remaining shares and securities not sold from the auction).

2. The level of collection of the fee for auctioning securities at organizations permitted to organize the auctioning of shares according to the law shall be agreed upon by the parties but shall not exceed 0.3% of the total value of shares and every type of security actually sold.

3. The minimum level of collection of the fee for auctioning securities applicable at the Stock Exchange and organizations permitted to organize the auctioning of shares and securities according to the law is VND 20 million per auction of shares/every type of security.

1. The fee for auctioning securities shall be collected in Vietnamese Dong. The entity subject to the fee as stipulated in Clause 2, Article 1 of this Circular shall be responsible for paying the entire fee for auctioning securities as prescribed to the Stock Exchange and organizations permitted to organize the auctioning of securities after completing the auction round.

Article 3. Collection Regime, Payment, Management, and Use of Fees

2. The fee for auctioning securities collected is not included in the state budget. The entity collecting the fee has the obligation to pay tax on the amount collected and has the right to manage and use the collected funds after paying taxes in accordance with the law.

1. This Circular takes effect from April 1, 2014. This Circular replaces Circular No. 82/2009/TT-BTC dated April 27, 2009 of the Ministry of Finance prescribing the level of collection, collection system, payment, management, and use of fees for auctioning shares.

Article 4. Organization of Implementation

2. Other contents related to the collection, payment, management, and use, and publicizing the collection system not specified in this Circular shall be implemented in accordance with the guidance provided in Circular No. 63/2002/TT-BTC dated July 24, 2002 of the Ministry of Finance guiding the implementation of legal provisions on fees and charges, Circular No. 45/2006/TT-BTC dated May 25, 2006 amending and supplementing Circular No. 63/2002/TT-BTC, Circular No. 156/2013/TT-BTC dated November 6, 2013 of the Ministry of Finance guiding the implementation of certain provisions of the Law on Tax Administration; the Law amending and supplementing certain provisions of the Law on Tax Administration and Decree No. 83/2013/NĐ-CP dated July 22, 2013 of the Government, Circular No. 64/2013/TT-BTC dated May 15, 2013 of the Ministry of Finance on guiding the printing, issuance, and use of invoices for goods sales and service provision and other amended and supplemented documents (if any).

2. Other contents related to the collection, submission, management, use, and public disclosure of fee collection not specified in this Circular shall be implemented in accordance with the guidance provided in Circular No. 63/2002/TT-BTC dated July 24, 2002 of the Ministry of Finance guiding the implementation of laws on fees and charges, Circular No. 45/2006/TT-BTC dated May 25, 2006 amending and supplementing Circular No. 63/2002/TT-BTC, Circular No. 156/2013/TT-BTC dated November 6, 2013 of the Ministry of Finance guiding the implementation of certain provisions of the Law on Tax Administration; the Law Amending and Supplementing Certain Provisions of the Law on Tax Administration and Decree No. 83/2013/NĐ-CP dated July 22, 2013 of the Government, Circular No. 64/2013/TT-BTC dated May 15, 2013 of the Ministry of Finance guiding the printing, issuance, and use of sales invoices for goods and services, and any subsequent amendments and supplements (if any).

3. During the implementation process, if there are any difficulties, organizations and individuals are requested to promptly report to the Ministry of Finance for research and supplementary guidance.