Circular No. 42 TC/TCT supplements Circular No. 19 TC/TCT dated March 16, 1995 on stamp duty.

CIRCULAR

OF THE MINISTRY OF FINANCE NUMBER 42 TC/TCT ON JUNE 1, 1995

GUIDING SUPPLEMENTARY CIRCULAR NUMBER 19 TC/TCT

ON JUNE 16, 1995 REGARDING STAMP DUTIES

Implementing Decree No. 193/CP dated December 29, 1994 of the Government on stamp duties, the Ministry of Finance issued Circular No. 19 TC/TCT dated March 16, 1995 to guide implementation;

After a period of implementation and to align with the provisions of the Ordinance on Tax Exemptions and Privileges for Diplomatic Missions, Consular Offices, and International Organizations' Representative Offices in Vietnam;

The Ministry of Finance supplements Circular No. 19 TC/TCT dated March 16, 1995 on collecting stamp duties as follows:

1. Supplement paragraph d, point 3, section I of Circular No. 19 TC/TCT regarding the exemption from stamp duties for foreign organizations and individuals eligible for privileges and exemptions when registering ownership or usage rights for various types of automobiles and motorcycles bearing NG (Diplomatic) license plates, including:

a. Diplomatic missions, consular offices;

b. Representative offices of international organizations under the United Nations system in Vietnam (as per the attached list);

c. Diplomatic and consular officials, heads and deputies of representative offices of international organizations mentioned in paragraph b of this point (including those registered and issued diplomatic identification cards by the Ministry of Foreign Affairs, Provincial and Municipal Foreign Affairs Departments).

The additional entities exempted from stamp duties under this point must have confirmation from the Ministry of Foreign Affairs (Department of Diplomatic Services) or Provincial and Municipal Foreign Affairs Departments regarding their registration of NG (Diplomatic) vehicle license plates before proceeding with the declaration procedures stipulated in point 1, section III of Circular No. 19 TC/TCT dated March 16, 1995.

For foreign representative offices and representative offices of other international organizations (excluding the aforementioned entities exempt from stamp duties), stamp duties shall be implemented according to agreements signed or joined by the Government of Vietnam.

2. The provision at paragraph a, point 1, section II of Circular No. 19 TC/TCT dated March 16, 1995 regarding the value of land subject to stamp duties for: "In cases where land is received through auction or together with the purchase of state-owned property, the stamp duty value remains as prescribed by the People's Committee of the province or city," is supplemented and amended as follows: In cases where land is received through auction, the stamp duty value is the winning bid price, but it must be no less than the price prescribed by the People's Committee of the province or city. For other cases of receiving land (transfer, assignment...), if the actual land value recorded on the stamp duty declaration form of the payer or invoice is higher than the price prescribed by the People's Committee of the province or city, the stamp duty value is the actual recorded value or the value on the invoice.

3. Supplement point 1, section IV of Circular No. 19 TC/TCT on handling violations as follows: Additionally, if organizations or individuals fail to declare in accordance with the provisions at paragraph a, point 1, section II of Circular No. 19 TC/TCT, they will be penalized according to the provisions at point 1, section II of Circular No. 11 TC/TCT dated February 24, 1993 of the Ministry of Finance guiding the implementation of Decree No. 01/CP dated December 18, 1992 of the Government on administrative penalties in the field of taxation.

Penalties in this case will be enforced from the date Circular No. 19 TC/TCT comes into effect. For cases of receiving assets before December 31, 1994, if not declared, the deadline for late declaration will also be calculated from January 1, 1995 onwards.

This circular takes effect from the date of issuance. Any previous regulations contrary to this circular are hereby abolished.

During the implementation process, if there are any difficulties, please promptly report them to the Ministry of Finance for further guidance and supplementation.

LIST

REPRESENTATIVE OFFICES OF INTERNATIONAL ORGANIZATIONS

UNDER THE UNITED NATIONS SYSTEM AND REPRESENTATIVE OFFICES
OF INTERNATIONAL ORGANIZATIONS OUTSIDE THE UNITED NATIONS SYSTEM

IN VIETNAM

(Attached to Circular No. 42 TC/TCT dated June 1, 1995 of the Ministry of Finance)

1. Office of the United Nations High Commissioner for Refugees (UNHCR);

2. United Nations Development Programme (UNDP);

3. Food and Agriculture Organization of the United Nations (FAO);

4. World Health Organization (WHO);

5. World Food Programme (WFP);

6. United Nations Children's Fund (UNICEF);

7. United Nations Industrial Development Organization (UNIDO);

8. United Nations Population Fund (UNFPA);

9. International Monetary Fund (IMF);

10. World Bank (WB);

11. International Organization for Migration (IOM);

12. Agency for Cultural and Technical Cooperation of French-speaking Countries in Asia-Pacific (ACCT).