Vietnam – A further fifth period of reducing a number of industrial property fees by 50%

As you may know, the Vietnamese Ministry of Finance (MoF) issued four Circulars to support applicants for industrial property registrations affected by the COVID-19 pandemic.       

The first period: from 26 May 2020 to the end of 31 December 2020 under Circular No. 45/2020/TT-BTC,

The second period: from 1 January 2021 to the end of 30 June 2021 under Circular No. 112/2020/TT-BTC,

The third period: from 1 July 2021 to the end of 31 December 2021 under Circular No. 47/2021/TT-BTC), and

The fourth period: from 1 Jan 2022 to the end of 30 June 2022 under Circular No. 120/2021/TT-BTC).

Despite the gradual decline of the pandemic, its impact continues to pose significant challenges to the economy. Therefore, to further support for the people and businesses, the MoF has just issued Circular No. 44/2023/TT-BTC dated 29 June 2023 to provide a further period of fee reduction. Specifically, the 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 continue to apply during the fifth period from 1 July 2023 until the end of 31 December 2023.

From 1 January 2024, the fees and charges will return to normal, as stated in Circular No. 263/2016/TT-BTC.

For more information, please refer to our previous reports regarding the above fee reduction:

By Do Tuyet Nhung

Deputy Director of Patent Department