7 cases are exempted from business license fees

(Baonghean.vn) -According to Decree No. 139, which has just been issued, the level of business license fee payment and exemption from business license fee from January 1, 2017 will be completely new.

People come to authorize tax payment at the Bank for Agriculture and Rural Development, Nghe An branch

Accordingly, the new fee collection rate is regulated as follows:

- For organizations engaged in production and trading of goods and services:

Pay 3,000,000 VND/year for organizations with charter capital or investment capital of over 10 billion VND; 2,000,000 VND/year for organizations with charter capital or investment capital of 10 billion VND or less; 1,000,000 VND/year for branches, representative offices, business locations, public service units, and other economic organizations.

- For individuals, groups of individuals, and households engaged in production and trading of goods and services:

Pay 1,000,000 VND/year if revenue is over 500 million VND/year; 500,000 VND/year if revenue is over 300 to 500 million VND/year; 300,000 VND/year if revenue is over 100 to 300 million VND/year.

The Decree also stipulates 7 cases of exemption from business license fees, including:

1. Individuals, groups of individuals, and households engaged in production and business activities with annual revenue of VND 100 million or less.

2. Individuals, groups of individuals, and households that conduct irregular production and business activities; do not have a fixed location according to the guidance of the Ministry of Finance.

3. Individuals, groups of individuals, households producing salt.

4. Organizations, individuals, groups of individuals, households engaged in aquaculture, fishing and seafood logistics services.

5. Commune cultural post office and press agencies (printed newspapers, radio, television, electronic newspapers).

6. Branches, representative offices, and business locations of cooperatives providing technical services directly serving agricultural production.

7. Commune people's credit funds; cooperatives specializing in agricultural production services; branches, representative offices, and business locations of cooperatives and private enterprises operating in mountainous areas. Mountainous areas are determined according to regulations of the Ethnic Committee.

100% of collected business license fees must be paid into the state budget according to the provisions of law and must be paid before January 30 every year.

The above regulation takes effect from January 1, 2017.

Pearl (synthesis)