Circular No. 73/1999/TT-BTC guides the collection of fees for issuing permits to establish permanent representative offices of foreign economic organizations in Vietnam.

CIRCULAR

Guidelines for the collection of fees for issuing licenses to establish representative offices

of foreign economic organizations in Vietnam

Pursuant to Decree No. 04/1999/NĐ-CP dated January 30, 1999 of the Government on fees and charges under the State budget;

Pursuant to Decision No. 53/1999/QĐ-TTg dated March 26, 1999 of the Prime Minister on certain measures to encourage foreign direct investment;

The Ministry of Finance issues guidelines for the fees for issuing licenses to establish representative offices of foreign economic organizations in Vietnam as follows:

Article 1. All foreign economic organizations and individuals must pay the fee stipulated herein when obtaining a license to establish a representative office or branch office in Vietnam.

Article 2. The amount: The fee for issuing a license to establish a representative office or branch office in Vietnam is VND 1,000,000 per license (one million Vietnamese dong) and must be paid in "Vietnamese Dong."

Organizations that have already been granted licenses and request an extension of their operating period are exempt from paying the fee.

Article 3. The competent authority issuing licenses to establish representative offices for foreign economic organizations in Vietnam shall:

- Register, declare, collect, remit, settle accounts for the collection and remittance of fees with local tax authorities according to Circular No. 54/1999/TT-BTC dated May 10, 1999 guiding the implementation of Decree No. 04/1999/NĐ-CP dated January 30, 1999 of the Government on fees and charges under the State budget.

- Collect the fee before issuing a license and issue a receipt for payment (a type of receipt issued by the General Department of Taxation) to the payer. The unit collecting the fee is responsible for managing and using receipts in accordance with regulations set forth by the Ministry of Finance.

- Remit the entire amount collected as fees into the State budget. Expenses related to organizing the collection, reviewing applications for establishing representative offices of foreign economic organizations in Vietnam are funded from the annual approved budget.

Article 4. This Circular takes effect on July 1, 1999 and replaces Circular No. 100/TC/TCT dated December 3, 1993 of the Ministry of Finance guiding the collection, management, and use of fees for establishing permanent representative offices of foreign economic organizations in Vietnam and provisions regarding the temporary retention rate from the revenue of license issuance fees as stipulated in Circular No. 65/1998/TT-BTC dated May 15, 1998 of the Ministry of Finance.

Provincial Tax Departments are responsible for inspecting and urging units collecting fees to remit collected fees into the State budget promptly.

During implementation, if any difficulties arise, organizations and individuals are requested to report them in a timely manner to the Ministry of Finance for study and resolution.