Finance ministry proposes reducing 36 fees by year-end

Specifically, most fees in the securities sector will be slashed by 50% compared to previous reductions listed in Circular No. 25/2022/TT-BTC dating from April 2022.

Pans produced at Elmich Hà Nam. The Ministry of Finance has proposed reductions of 10-50% for 36 fees starting July 1 until the end of this year to support business and production. (Photo: VNA)

Other fees which are also up for a 50% reduction include the fee for inspection of fire-fighting and fire prevention equipment, the fee for issuing citizen identification cards, the fee for granting licences to send Vietnamese workers abroad under a contract, the fee for licensing domestic and international tourism services, the fee for assessing and issuing tour guide cards, the fee for using railway infrastructure and the fee for intellectual property registration.

The draft decree on the potential fee reductions is being made available for public comment. Opinions should be sent to the finance ministry by June 10.

The Ministry of Finance has been lowering fees since 2020 to support citizens and enterprises working to make up for losses caused by the COVID-19 pandemic.

Most recently, the ministry offered reductions of 10-50% for 36 fees in the second half of 2023, with an estimated value of 700 billion VND (27.5 million USD) in total.