Circular No. 38/2011/TT-BTC stipulates the level of collection, payment procedures, management, and use of securities transaction fees applicable to securities service businesses.

CIRCULAR

Regulations on the level of collection, collection procedures, management, and use of securities transaction fees applicable to securities service businesses

 applied at securities trading service organizations

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Pursuant to the Securities Law 2006;

Pursuant to the Price Ordinance 2002;

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 Fee and Stamp Tax Ordinance;

Pursuant to Decree No. 170/2003/NĐ-CP dated December 25, 2003 of the Government detailing the implementation of certain provisions of the Price Ordinance; Decree No. 75/2008/NĐ-CP dated June 9, 2008 of the Government amending and supplementing certain provisions of Decree No. 170/2003/NĐ-CP dated December 25, 2003 of the Government detailing the implementation of certain provisions of the Price Ordinance;

Pursuant to Decree No. 14/2007/NĐ-CP dated January 19, 2007 of the Government detailing the implementation of certain provisions of the Securities Law;

Pursuant to the Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

After receiving opinions from relevant ministries and agencies, the Ministry of Finance hereby stipulates the level of collection, collection procedures, management, and use of securities transaction fees applicable to securities trading service organizations as follows:

Article 1. Objects Subject to Fee

Organizations and individuals using services related to the implementation of securities activities provided by securities companies, investment fund management companies, depositary members of the Vietnam Securities Depository Center, supervisory banks, designated payment banks, commercial banks participating in the bond market must pay securities transaction fees according to the regulations set forth in this Circular.

Article 2. Level of Collection

The level of fee collection is specified in the Securities Transaction Fee Schedule attached to this Circular.

Article 3. Organization of Collection, Payment and Management of Use

1. The securities transaction fees applied to securities trading service organizations regulated by this Circular are not part of the state budget revenue. The fee collecting entities, which are securities trading service organizations, have the obligation to pay taxes on these collected fees according to the law and have the right to manage and use the collected funds after tax payment according to the law.

2. Other regulations regarding collection, submission, management, use, receipt, and public disclosure of fee collection procedures not mentioned 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 stamp taxes and Circular No. 45/2006/TT-BTC dated May 25, 2006 amending and supplementing Circular No. 63/2002/TT-BTC dated July 24, 2006.

Article 4. Effective date

1. This Circular takes effect from May 1, 2011. This Circular replaces Circular No. 01/2000/TT-UBCK1 dated April 17, 2000 guiding temporarily the fee collection regime for customers of securities trading and service organizations, and Circular No. 02/2000/TT-UBCK1 dated November 14, 2000 of the State Securities Commission amending and supplementing certain points in Circular No. 01/2000/TT-UBCK1 dated April 17, 2000.

2. 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./.