Vietnam – The fourth period of reducing a number of Industrial property fees by 50%

CategoriesLegal News, Trends and IP Practice in Vietnam

As mentioned in our previous reports, in order to support applicants for intellectual industrial registrations affected by the COVID-19 pandemic during the difficult periods, the Vietnamese Ministry of Finance (MoF) issued three Circulars of reducing a number of industrial property fees in Vietnam by 50% during three respective periods of time (the first period was from 26 May 2020 to the end of 31 December 2020 under Circular No. 45/2020/TT-BTC, and the second period was from 1 January 2021 to the end of 30 June 2021 under Circular No. 112/2020/TT-BTC, and the third period was from 1 July 2021 to the end of 31 December 2021 under Circular No. 47/2021/TT-BTC).

Because of the complicated situation of the pandemic in Vietnam as the affected cases and deaths are still increasing, the Vietnamese Government has decided to continue supporting the industrial property applicants, accordingly, the MoF has just issued Circular No. 120/2021/TT-BTC dated 24 December 2021 to provide a further extension of the fee reduction. Specifically, the same reduction by 50% on 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 MoF will be continued to apply during the fourth period of time from 1 January 2022 until the end of 30 June 2022.

From 1 July 2022, the fees and charges would return to normal which are those under said Circular No. 263/2016/TT-BTC.

For more information, please see our relevant previous reports:

Do Tuyet Nhung

Deputy Director of Patent Department

INVESTIP IP LAW FIRM