Circular No. 202/2016/TT-BTC stipulates the level of collection, collection system, payment, management, and use of fees in the field of registering secured transactions.

CIRCULAR

Regulations on the level of collection, collection system, payment, management, and use of fees for managing and supervising insurance activities.

use fees in the field of registration of secured transactions

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Pursuant to the Law on Fees and Registration Fees dated November 25, 2015;

Pursuant to the State Budget Law dated June 25, 2015;

Pursuant to Decree No. 120/2016/NĐ-CP dated August 23, 2016 of the Government detailing and guiding the implementation of certain provisions of the Law on Fees and Charges;

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 Department of Tax Policy,

The Minister of Finance issues this Circular stipulating the levels of collection, collection procedures, payment, management, and use of fees in the field of registration of secured transactions.

Article 1. Scope of Regulation and Applicability

1. This Circular stipulates the level of collection, collection system, payment, management, and use of fees in the field of registering secured transactions.

2. This Circular applies to persons paying, organizations collecting registration fees for secured transactions; fees for providing information on secured transactions involving movable assets (excluding aircraft), ships; fees for issuing codes for using the secured transaction database; and other organizations and individuals related to the collection, payment, management, and use of registration fees for secured transactions; fees for providing information on secured transactions involving movable assets (excluding aircraft), ships; fees for issuing codes for using the secured transaction database.

Article 2. Persons Paying Fees

Organizations and individuals requesting to register secured transactions, provide information on secured transactions, issue copies of certification documents regarding the content of secured transactions, and issue codes for using the secured transaction database at competent state agencies must pay the prescribed fees.

Article 3. Fee Collection Organizations

1. The Maritime Branch or Port Office under the Vietnam Maritime Administration (Ministry of Transport) collects registration fees for secured transactions, and fees for providing information on secured transactions involving ships.

2. The Registration Center for Secured Transactions and Assets under the National Registration Agency for Secured Transactions (Ministry of Justice) collects registration fees for secured transactions; fees for providing information on secured transactions involving movable assets (excluding aircraft and ships).

3. The National Registration Agency for Secured Transactions (Ministry of Justice) collects fees for issuing codes for using the secured transaction database at the National Registration Agency for Secured Transactions.

Article 4. Fee Rates

The levels of fee collection in the field of registering secured transactions are as follows:

Article 5. Subjects exempted from fees

1. Individuals and households borrowing funds from credit institutions in one of the lending fields serving agricultural and rural development as specified in Article 4 and Article 9 of Decree No. 55/2015/NĐ-CP dated June 9, 2015 of the Government on credit policies for agricultural and rural development.

2. Requests to correct errors in the content of registered secured transactions due to mistakes made by the person registering.

3. Notifications of asset seizure for enforcement, requests to change the content of previously notified asset seizures for enforcement, and cancellations of asset seizure notifications by Enforcement Officers according to the laws on enforcement.

4. Changes to the information of organizations and individuals after being issued codes for using the secured transaction database.

5. Enforcement Officers requesting the provision of information on seized assets.

6. Investigators, Prosecutors, and Judges requesting the provision of information for litigation activities.

Article 6. Declaration and Payment of Fees

1. By the fifth day of each month, fee collection organizations must deposit the collected fee amount of the previous month into the account for pending budget payments opened at the State Treasury.

2. Organizations collecting fees shall declare and pay the collected fees monthly, and settle accounts annually in accordance with Clause 3, Article 19, and Clause 2, Article 26 of Circular No. 156/2013/TT-BTC dated November 6, 2013, issued by the Minister of Finance guiding the implementation of certain provisions of the Law on Tax Management; the Law Amending and Supplementing Certain Provisions of the Law on Tax Management, and Decree No. 83/2013/NĐ-CP dated July 22, 2013 of the Government.

Article 7. Management and Use of Fees

1. Organizations collecting fees shall remit the entire amount of collected fees into the State budget. The costs for appraisal and fee collection shall be covered by the State budget within the organizational budget according to the State budget expenditure regulations.

2. In cases where the organization collecting fees is a state agency allocated operational costs from fee revenues according to Clause 1, Article 4 of Decree No. 120/2016/NĐ-CP dated August 23, 2016 of the Government, it shall manage and use the fees as follows:

a) For the Registration Center for Secured Transactions and Assets: The collected fees shall be managed and used as follows:

- Deduct 80% of the collected fees to cover expenses for the items specified in Article 5 of Decree No. 120/2016/NĐ-CP dated August 23, 2016 of the Government.

- Transfer 5% of the collected fees to the account of the National Registration Agency for Secured Transactions to cover expenses for operating and maintaining the online secured transaction registration system.

- Remit 15% of the collected fees into the State budget according to the current State budget classification.

b) For the National Registration Agency for Secured Transactions, Maritime Branch, or Port Office: The collected fees shall be managed and used as follows:

Deduct 85% of the collected fees to cover expenses for the items specified in Article 5 of Decree No. 120/2016/NĐ-CP dated August 23, 2016 of the Government, and remit 15% of the collected fees into the State budget according to the current State budget classification.

Article 8. Implementation organization

1. This Circular takes effect from January 1, 2017, and replaces Joint Circular No. 69/2011/TTLT-BTC-BTP dated May 18, 2011, of the Minister of Finance and the Minister of Justice guiding the system of collection, payment, management, and use of registration fees for secured transactions, fees for providing information on secured transactions, and fees for regular customer services.

2. Other matters related to the collection, payment, management, use, payment receipts, publicizing the fee collection system, and other fees not mentioned in this Circular shall be implemented in accordance with the Law on Fees and Charges, Decree No. 120/2016/NĐ-CP dated August 23, 2016 of the Government; Circular No. 156/2013/TT-BTC dated November 6, 2013, of the Minister of Finance; Circulars of the Minister of Finance on printing, issuing, managing, and using various types of payment receipts for fees and charges belonging to the State budget, and any subsequent amendments or 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.