VIETNAM EXTENDS THE PERIOD OF REDUCING SOME INDUSTRIAL PROPERTY FEES BY 50%

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On 29 December 2020, Vietnamese Ministry of Finance just issued Circular No. 112/2020/TT-BTC. Accordingly, a number of industrial property fees and charges in Section A of the schedule as promulgated in Circular No. 263/2016/TT-BTC of the Ministry of Finance will be reduced by 50% during the period of time from 1 January 2021 until the end of 30 June 2021.

 

Please note that the same reduction was applied in the period of time from 26 May 2020 to the end of 31 December 2020 under Circular No. 45/2020/TT-BTC. The new Circular has provided an extension of the application of Circular 45/2020/TT-BTC on the industrial property field. This shows the efforts of the Vietnamese government to support applicants for IP registration affected by the COVID-19 pandemic during this difficult period.

 

As from 1 July 2021, the fees and charges will return to normal which are those under Circular No. 263/2016/TT-BTC.