Circular No. 150/2016/TT-BTC dated October 14, 2016 of the Ministry of Finance dated October 14, 2016, providing for fees for issuance of license for establishment and operation of credit institutions; license for establishment of foreign banks’ branches, representative offices of foreign credit institutions or other foreign organizations having banking activities; license for provision of intermediary payment services by non-bank institutions, and the collection and transfer thereof

THE MINISTRY OF FINANCE

Circular No. 150/2016/TT-BTCdatedOctober 14, 2016of the Ministry ofFinance dated October 14, 2016, providing for fees for issuance of license for establishment and operation of credit institutions; license for establishment of foreign banks’ branches, representative offices of foreign credit institutions or other foreign organizations having banking activities; license for provision of intermediary payment services by non-bank institutions, and the collection and transfer thereof

Pursuant to the Law on fees and charges dated November 25, 2015;

Pursuant to the Law on state budget dated June 25, 2015;

Pursuant to the Law on statebank of Vietnam dated June 16, 2010;

Pursuant to the Government s Decree No. 120/2016/ND-CP dated August 23, 2016 detailing and guiding the implementation of a number of articles of the Law on fees and charges;

Pursuant to the Government s Decree No.101/2012/ND-CPdated November 22, 2012 providing for non-cash payment;the Government s Decree No.80/2016/ND-CPdated July 01, 2016 on amendments to a number of articles of theGovernment s Decree No.101/2012/ND-CPdated November 22, 2012;

Pursuant to the Government s Decree No. 215/2013/ND-CP dated December 23, 2013 defining the functions, tasks, powers and organizational structure of Ministry of Finance;

At the request of the Director of the Tax Policy Department;

Minister of Finance promulgates this Circular toprovidefor fees for issuance ofthelicense for establishment and operation of credit institutions;thelicense for establishment of foreign banks’ branches, representative offices of foreign credit institutions or other foreign organizations having banking activities;thelicensefor provision ofintermediary payment servicesbynon-bank institutions, and the collection and transfer thereof with the following contents:

Article 1. Scopeof adjustment

This Circular providesfor fees for issuance ofthelicense for establishment and operation of credit institutions;thelicense for establishment of foreign banks’ branches, representative offices of foreign credit institutions or other foreign organizations having banking activities;thelicensefor provision ofintermediary payment servicesbynon-bank institutions, and the collection and transfer thereof.

Article 2. Payers

Any organizations that are grantedthe license for establishment and operation of credit institutions; the license for establishment of foreign banks’ branchesorrepresentative offices of foreign credit institutions or other foreign organizations having banking activities; the licensefor provision ofintermediary payment servicesbynon-bank institutionsby competent authorities must pay fees in conformity with regulations in this Circular.

Article 3. Collectors

The State Bank of Vietnam is responsible for the collection, declaration and transfer of fees in conformity with regulations in this Circular.

Article 4. Fees

1. Fees

2.Fees prescribed in Clause 1 of this Article must be paid in Vietnamese Dongs (VND).

Article 4. Declaration andtransferof fees

1. Collectors must make monthly declarationon collected feesand annual statement of fees in accordance with regulations in Clause 3 Article 19 of the Circular No. 156/2013/TT-BTC dated November 06, 2013 by Minister of Finance providing guidance on a number of articles of the Law on tax management; the Law on amendments to the Law on tax management and the Government s Decree No. 83/2013/ND-CP dated July 22, 2013.

2.Collectorsmustpay total amount of collected feesto state budget according to the list of state budget entries.

Article 5. Implementationprovisions

1.This Circular takes effect on January 01, 2017; replaces regulations on the collection, transfer and management of fees and charges in the banking field in the Circular No.110/2002/TT-BTCdated December 12, 2002 by Minister of Finance providing guidance on the collection, transfer and management of fees and charges in the fields of banking, securities and insurance and Circular No.11/2006/TT-BTCdated February 21, 2006 by Ministry of Finance on amendments to Circular No.110/2002/TT-BTC;the Circular No.77/2015/TT-BTCdated May 19, 2015 by Minister of Finance providing guidance on the collection, transfer and management of fees for issuance of the license for provision of intermediary payment services.

2. Other contents related to thedeclaration,collectionand transfer of fees,which are not provided for in this Circular, shall be performed in conformity with regulations in the Law on fees and charges; the Government s Decree No. 120/2016/ND-CP dated August 23, 2016 detailing and guiding the implementation of a number of articles of the Law on fees and charges; the Circular No. 156/2013/TT-BTC dated November 06, 2013 by Minister of Finance providing guidance on a number of articles of the Law on tax management; the Law on amendments to the Law on tax management and the Government s Decree No. 83/2013/ND-CP dated July 22, 2013, and the Circular by Minister of Finance providing for the printing, issuance, management and use of receipts of fees and charges under the government revenues and other documents on amendments and supplements thereof (if any).

3. Payers and relevant agencies are responsible for implementing this Circular.Any difficultiesarising in the course ofimplementation of this Circular should be promptly reported to Ministry of Finance for consideration./.

For the Minister

The Deputy Minister

Vu Thi Mai