Proposal to extend reduction of fees and charges until the middle of next year

In the announcement of Deputy Prime Minister Le Minh Khai's conclusion on November 15, the Government Office said that the Government leaders agreed with the above proposal of the Ministry of Finance. Deputy Prime Minister Le Minh Khai requested the ministries to urgently review and proposeadjust the collection levels of fees and chargesin the industry and management sector, including the amounts reduced in 2021, and send them to the Ministry of Finance for review.

The Ministry of Finance continues to propose tax, fee and charge exemptions and reductions to remove difficulties for production and business.

Mr. Le Minh Khai also agreed to apply simplified procedures when issuing a Circular to reduce fees and charges to support businesses, people and subjects affected by Covid-19.

According to a report sent to the Government by the Ministry of Finance, this agency forecasts that the epidemic may continue to develop in a complicated and unpredictable manner in 2022 and that new outbreaks and new strains may occur that spread faster and are more dangerous.

In 2020, in order to support businesses and people facing difficulties due to Covid-19, a series of fees and charges were reduced by 20-50%, such as: fees for granting licenses to establish and operate banks; fees for granting certificates of capacity/practice in construction activities; fees for appraisal of construction investment projects; fees for appraisal of basic designs; fees and charges in the securities sector; industrial property fees... This policy was then "extended" until the end of 2021.

In addition, in 2021, the Government will also reduce fees for using railway infrastructure; fees for appraisal and issuance of business licenses for civil cryptographic products and services; and fees in the veterinary field. These fees will be reduced by 10-50%.

Total estimated fee and charge revenue reduction in 2020 and 2021 is about 3,000 billion VND.