New regulations on exemption of licensing fees

Under Decree No. 22, the following cases shall be exempted from licensing fees for one year since establishment:

a - Newly-established organizations (granted with new tax code, new enterprise code).

b - Households, individuals and groups of individuals commence production and business activities for the first time.

c - Branches, representative offices and business organizations set up by households, individuals and groups of individuals during the licensing fee exemption period. 

Small and medium-sized enterprises conversed from household business (defined in Article 16 of the Law on Support for Small- and Medium-sized Enterprises) will enjoy licensing fee exemption within three years from the issue date of the first business registration certificate.

In addition, public secondary education institutions and public preschool institutions are also exempted from licensing fees. 

The deadline for paying licensing fees is January 30. 

The Decree will take effect since February 25, 2020./.

(Source:VGP)