Circular No. 202/2016/TT-BTC dated November 9, 2016 of the Ministry of Finance on the rate, collection, submission, administration and use of the fees on secured transaction

CIRCULAR

On rates and collection, remittance, management and use of charges in registration of secured transactions[1]

Pursuant to the November 25, 2015 Law on Charges and Fees;

Pursuant the June 25, 2015 Law on the State Budget;

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

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

At the proposal of the Director of the Department of Tax Policy,

The Minister of Finance promulgates the Circular on rates and collection, remittance, management and use of charges in registration of secured transactions.

Article 1. Scope of regulation and subjects of application

1. This Circular prescribes rates and collection, remittance, management and use of charges in registration of secured transactions.

2. This Circular applies to payers of and organizations collecting charges for registration of secured transactions; for provision of information on secured transactions in movable property (other than aircraft) and seagoing ships; and for grant of codes for use of the secured transaction database, and other organizations and persons involved in the collection, remittance, management and use of charges for registration of secured transactions; for provision of information on secured transactions in movable property (other than aircraft) and seagoing ships; and for grant of codes for use of the secured transaction database.

Article 2. Charge payers

An organization or a person that requests for registration of secured transactions, provision of information on secured transactions, grant of duplicates of a certificate of secured transaction registration contents or grant of a code for use of the secured transaction database at a competent state agency shall pay charges in accordance with regulations.

Article 3. Charge-collecting organizations

1. Maritime sub-departments or maritime administrations under the Vietnam Maritime Administration (the Ministry of Transport) shall collect charges for registration of secured transactions and provision of information on secured transactions in seagoing ships.

2. The Transaction and Asset Registration Center under the National Registration Agency for Secured Transactions (the Ministry of Justice) shall collect charges for registration of secured transactions; and for provision of information on secured transactions in movable property (other than aircraft and seagoing ships).

3. The National Registration Agency for Secured Transactions (the Ministry of Justice) shall collect the charge for grant of codes for use of the secured transaction database at the National Registration Agency for Secured Transactions.

Article 4. Charge rates

The charge rates in registration of secured transactions are as follows:

Article 5. Subjects entitled to charge exemption

1. Individuals and households borrowing loans at credit institutions in one of the sectors eligible for loans for agricultural and rural development prescribed in Articles 4 and 9 of the Government’s Decree No. 55/2015/ND-CP of June 9, 2015, on credit policies for agricultural and rural development.

2. Requests for correction of errors of secured transaction registration contents made by persons making registration.

3. Notices of distraint of property for judgment enforcement, requests for change of notified contents of distraint of property for judgment enforcement, or removal of notices of distraint by executors as prescribed by the law on judgment enforcement.

4. Change of information on organizations and individuals after they have been granted codes for use of the secured transaction database.

5. Executors’ requests for provision of information on distrained property.

6. Requests for information provision for procedural activities by investigators, procurators and judges.

Article 6. Declaration and remittance of charges

1. On the 5^th every month at the latest, charge-collecting organizations shall transfer charge amounts collected in the previous month to their State Treasury accounts of charges pending remittance into the state budget.

2. Charge-collecting organizations shall declare and remit collected charge amounts by month and make yearly settlement in accordance with Clause 3, Article 19, and Clause 2, Article 26, of the Finance Minister’s Circular No. 156/2013/TT-BTC of November 6, 2013, guiding the implementation of a number of articles of the Law on Tax Administration, the Law Amending and Supplementing a Number of Articles of the Law on Tax Administration, and the Government’s Decree No. 83/2013/ND-CP of July 22, 2013.

Article 7. Management and use of charges

1. Charge-collecting organizations shall remit all collected charge amounts into the state budget. Funds for the appraisal and collection of charges shall be included in state budget estimates of charge-collecting organizations in accordance with the regime and norms on state budget expenditures.

2. For charge-collecting organizations which are state agencies entitled to presumptive expenditures for their operation from collected charges as prescribed in Clause 1, Article 4 of the Government’s Decree No. 120/2016/ND-CP of August 23, 2016, the charges shall be managed and used as follows:

a/ For the Transaction and Asset Registration Center, collected charge amounts shall be managed and used as follows:

- To keep 80% of the collected charge amount to cover spending items in accordance with Article 5 of the Government’s Decree No. 120/2016/ND-CP of August 23, 2016.

- To transfer 5% of the collected charge amount to the account of the National Registration Agency for Secured Transactions to cover expenses for the operation and maintenance of the online secured transaction registration system.

- To remit 15% of the collected charge amount into the state budget according to the chapter and sub-items of the current State Budget Index.

b/ For the National Registration Agency for Secured Transactions, maritime sub-departments or maritime administrations, collected charge amounts shall be managed and used as follows:

To keep 85% of the collected charge amount to cover spending items in accordance with Article 5 of the Government’s Decree No. 120/2016/ND-CP of August 23, 2016, and remit 15% of the collected charge amount into the state budget according to the chapter and sub-items of the current State Budget Index.

Article 8. Organization of implementation

1. This Circular takes effect on January 1, 2017, and replaces Joint Circular No. 69/2011/TTLT-BTC-BTP of May 18, 2011, of the Minister of Finance and the Minister of Justice, guiding the collection, remittance, management and use of the fee for registration of secured transactions, charge for provision of information on secured transactions and charge for use of regular customer service.

2. Other contents related to charge and fee collection, remittance, management and use, collection documents and collection regime publicity not mentioned in this Circular must comply with the Law on Charges and Fees; the Government’s Decree No. 120/2016/ND-CP of August 23, 2016; the Finance Minister’s Circular No. 156/2013/TT-BTC of November 6, 2013; and the Finance Minister’s Circular on printing, issuance, management and use of documents of collection of charges and fees of the state budget, and their amending and supplementing documents (if any).

3. Any problems arising in the course of implementation of this Circular should be reported to the Ministry of Finance for study and additional guidance.-

For the Minister of Finance
Deputy Minister
VU THI MAI