The Ministry of Finance is seeking opinions from relevant ministries and agencies on extending the time for reduction of fees and charges specified in Circular No.112/2020/TT-BTC to the end of December 31, 2021.

Photo: Thuy Linh

According to the Ministry of Finance, entering 2020, the Covid-19 pandemic has caused many negative effects on our country's socio-economic life. The Party and State have issued many guidelines and solutions to limit the impact of the pandemic; determined to realize "dual goals", while focusing on promoting production and business, creating resilience for the economy, and ensuring people's lives.

The Prime Minister issued Directive No.11/CT-TTg dated March 4, 2020 on urgent tasks and solutions to remove difficulties for production and business, ensure social security to cope with the Covid-19 pandemic.

Implementing the above policy, to support and reduce difficulties for businesses and people and comply with the provisions of the law on fees and charges, the Ministry of Finance has proactively chaired and coordinated with the Ministries and ministerial-level agencies to issue 21 Circulars and reduce 29 fees and charges with high reductions, such as 70% reduction in enterprise registration fee rates; reduce the fee for information disclosure of enterprises by 67%; reduce the fee for assessment and granting of amendments and supplements to postal operation licenses by 50-70%; a 50% reduction in fees for granting operation licenses of credit institutions, fees for appraisal of construction investment projects and 20/22 fees and charges in the securities sector. Circulars on fees and fee reduction are effective from the date of signing until the end of December 31, 2020.

By the end of 2020, the domestic Covid-19 pandemic is basically controlled, however, production and business activities are still facing many difficulties and need time to recover and develop, the Ministry of Finance has reported to the Prime Minister for permission to continue reviewing to reduce fees and charges in 2021.

With the approval of the Prime Minister, the Ministry of Finance has coordinated with relevant ministries and agencies to develop and issue Circular No.112/2020/TT-BTC dated December 29, 2020, providing the extension of the time limit. The period of reduction of 29 fees and charges (reduced in 2020) until the end of June 30, 2021, to support and remove difficulties for production and business, ensure social security to cope with the Covid-19 pandemic.

According to calculations by the Ministry of Finance, the reduction in fees and charges is about VND1,000 billion.

According to the Ministry of Finance, currently, the situation of the Covid-19 pandemic continues to be complicated around the world, in the region, and in Vietnam, disrupting the global supply chain, affecting most economic industries.

Many domestic industries and fields face difficulties. The production and business activities of enterprises have been stalled (especially enterprises doing business in the fields of tourism, aviation, transportation), it is necessary to continue to have support policies of the State to help enterprises and residents overcome difficulties due to the impact of the pandemic, restore production and business.

To continue to support and remove difficulties for those affected by the Covid-19 pandemic, the Ministry of Finance has issued Official Letter No. 5377/BTC-CST dated May 24, 2021, to seek opinions from relevant ministries and agencies related to the extension of time for the reduction of fees and charges has been specified in Circular No. 112/2020/TT-BTC until the end of December 31, 2021. Accordingly, the reduction in fees and charges is about VND1,000 billion.