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MINISTRY OF
FINANCE
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SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
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No.:
242/2016/TT-BTC
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Hanoi, November
11, 2016
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CIRCULAR
REGULATIONS ON
PRICES OF SECURITIES-RELATED SERVICES APPLIED AT SECURITIES TRADING
ORGANIZATIONS AND COMMERCIAL BANKS JOINING VIETNAM’S SECURITIES MARKET
Pursuant to the Law on securities dated June 29,
2006 and the Law dated November 24, 2010 on amendments to a number of articles
of the Law on securities;
Pursuant to the Law on fees and charges dated
November 25, 2015;
Pursuant to the Law on pricing dated June 20,
2012;
Pursuant to the Decree No. 177/2013/ND-CP dated
November 14, 2013 and the Decree No. 149/2016/ND-CP dated November 11, 2016 by
the Government on amendments to some articles of the Government’s Decree No.
177/2013/ND-CP dated November 14, 2013 elaborating and guiding the
implementation of some articles of the Law on pricing;
Pursuant to the Decree No. 58/2012/ND-CP dated
July 20, 2012 and the Decree No. 60/2015/ND-CP dated June 26, 2015 by the
Government on amendments to some articles of the Government’s Decree No.
58/2012/ND-CP dated July 20, 2012 elaborating and guiding the implementation of
some articles of the Law on securities and the Law on amendments to some
articles of the Law on securities;
Pursuant to the Government’s Decree No. 86/2016/ND-CP
dated July 01, 2016 on requirements for investment and trading in securities;
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At the request of Director of Department of
Price Management and Chairman of the State Securities Commission of Vietnam,
Minister of Finance promulgates a Circular
providing for prices of securities-related services applied at securities
trading organizations and commercial banks joining the Vietnam’s securities
market.
Article 1. Scope
This Circular deals with regulations on prices of
securities-related services applied at securities trading organizations and
commercial banks joining the Vietnam’s securities market.
Article 2. Regulated entities
1. Providers of services in securities trading
sector, including securities trading organizations (including securities
companies, fund management companies, branches of foreign securities companies
in Vietnam, and branches of foreign fund management companies in Vietnam), and
commercial banks joining the Vietnam’s securities market in accordance with
prevailing laws.
2. Organizations and individuals using
securities-related services provided by service providers mentioned in Clause 1
of this Article.
3. Other organizations and individuals concerned.
Article 3. Prices of securities-related services
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Providers of services in securities trading sector
mentioned in Article 2 hereof shall, based on the maximum price and the price
bracket prescribed in this Circular, decide specific prices in conformity with
their provision of services and in accordance with regulations of the Law on
pricing and relevant laws.
2. Prices of securities-related services prescribed
hereof are not subject to value-added tax in accordance with regulations in
Point c Clause 8 Article 5 of the Law on value-added tax and related amendment
documents (if any).
3. When collecting services fees in securities
trading sector, securities trading organizations and commercial banks must use
service invoices in accordance with regulations in the Government’s Decree No.
51/2010/ND-CP dated May 14, 2010 on goods and services invoices, the
Government’s Decree No. 04/2014/ND-CP dated January 17, 2014 on amendments to
the Government’s Decree No. 51/2010/ND-CP dated May 14, 2010 on goods and
services invoices, the Circular No. 39/2014/TT-BTC dated March 31, 2014 by
Minister of Finance guiding the implementation of the Decree No. 51/2010/ND-CP
dated May 14, 2010 and the Decree No. 04/2014/ND-CP dated January 17, 2014 by
the Government on regulations on goods and services invoices, and their
superseding or amending documents (if any).
4. Securities trading organizations and commercial
banks joining the securities market shall manage and use the proceeds from
their provision of securities-related services after deduction of amount
payable to state budget as regulated by law in accordance with regulations of
prevailing laws.
5. Securities trading organizations and commercial
banks joining the securities market may themselves decide the prices of their
services other than those prescribed in the Price Schedule hereof in conformity
with actually provided services and in accordance with regulations of the Law
on pricing and relevant laws.
6. Providers of services in securities trading
sector must post and announce prices of their services, and comply with
regulations of the Law on pricing, the Law on securities and their
instructional documents.
Article 4. Implementation
1. This Circular shall come into force as from
January 01, 2017 and supersede the Circular No. 38/2011/TT-BTC dated March 16,
2011 by Minister of Finance on securities-related service fees applied at
securities service providers, the collection, management and use thereof; the
Circular No. 216/2013/TT-BTC dated December 31, 2013 by Minister of Finance on
amendments to the Circular No. 38/2011/TT-BTC dated March 16, 2011; Clause 4
Article 14 of the Circular No. 183/2011/TT-BTC dated December 16, 2011 by
Minister of Finance providing guidance on the establishment and management of
open funds and Clause 8 Article 1 of the Circular No. 15/2016/TT-BTC dated
January 20, 2016 by Minister of Finance on amendments to some articles of the
Circular No. 183/2011/TT-BTC.
2. Difficulties that arise during the
implementation of this Circular should be reported to the Ministry of Finance
for consideration./.
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PP MINISTER
DEPUTY MINISTER
Tran Van Hieu
PRICE SCHEDULE OF
SERVICES IN SECURITIES TRADING SECTOR APPLIED AT SECURITIES TRADING
ORGANIZATIONS AND COMMERCIAL BANKS JOINING VIETNAM’S SECURITIES MARKET
(Enclosed
to the Circular No. 242/2016/TT-BTC dated November 11, 2015 by Minister of
Finance)
No.
SERVICE
PRICE
SERVICE
PROVIDER
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1
Price of underwriting service
From 0.5% to 2% of total value of shares issued
through a guaranteed offering
Securities companies, commercial banks
Issuers
2
a) Price of brokerage service to buy/sell shares
or fund certificates (inclusive of securities registered for trading on
Upcom)
From 0.15% to 0.5% of trading value.
Securities companies
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b) Price of brokerage service to buy/sell shares
or fund certificates in case of withdrawal of state capital
Not exceeding 0.03% of trading value and not
exceeding VND 03 billion per transaction. In special cases where the service
fee exceeds the maximum price, service provider must submit report thereof to
the Minister of Finance for consideration and decision in accordance with
regulations of the Law on pricing and relevant laws.
3
Price of service of managing public securities
investment funds or public securities investment companies
Not exceeding 2% of the Net Asset Value (NAV) of
the fund or the portfolio per year
Fund management companies
Public securities investment funds or public
securities investment companies
4
Price of service of supervising assets of
closed-end funds or public securities investment companies
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Supervisory banks
Closed-end funds or public securities investment
companies
5
Price of service of representing bondholders
Not exceeding 0.1% of total value of issued bonds
Commercial banks joining bond market
Bond issuers
6
Price of service of issuance of certificates of
closed-end funds or shares of public securities investment companies
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Fund management companies
Closed-end funds or public securities investment
companies
a)
Total value of fund certificates or shares issued
for sale is less than VND 500 billion
2% of the
mobilized capital per issuance of fund certificates or shares
b)
Total value of fund certificates or shares issued
for sale is from VND 500 billion to less than VND 1000 billion
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c)
Total value of fund certificates or shares issued
for sale is VND 1000 billion or above
1% of the
mobilized capital per issuance of fund certificates or shares
7
Price of service of issuance of certificates of
open-end funds or ETFs
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Fund management companies
Clients
8
Price of service of redemption or switch of
certificates of open-end funds or ETFs
Not exceeding 3% of trading value
Fund management companies
Clients
9
Price of offsetting service
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Settlement banks
Depository members, organizations directly
opening accounts
a)
Shares, fund certificates
0.01% of the netting value of each member/ method
of settlement/ day of settlement provided it shall not be lower than VND
5,000/day/member and shall not exceed VND 300,000/day/member
b)
Bonds
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10
Price of auction service
From VND 20 million per auction of shares or each
type of securities to 0.3% of total value of shares or securities of a type
actually sold out.
Organizations (other than stock exchanges)
licensed to organize auction of shares and other securities as regulated by
laws
Enterprises, organizations or individuals having
shares or securities sold out in auction as regulated by laws