Vietnam further extends the period of reducing some Industrial property fees by 50%

CategoriesHighlights, Legal News, Trends and IP Practice in Vietnam, Uncategorized157 views

In order to support applicants for intellectual property registrations affected by the COVID-19 pandemic during the difficult period, the Vietnamese Ministry of Finance (MoF) issued two Circulars for reducing some industrial property fees in Vietnam by 50% during two 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).

The MoF has just issued Circular No. 47/2021/TT-BTC dated 24 June 2021 to provide a further extension of this 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 third period of time from 1 July 2021 until the end of 31 December 2021.

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

Do Tuyet Nhung

Deputy Director of Patent Department

INVESTIP IP LAW FIRM