Hanoi (VNS/VNA) - The Ministry of Finance has continued to cut anumber of charges and fees to support and remove difficulties caused by theCOVID-19 pandemic for businesses and individuals.

The ministry issued Circular No 47/2021/TT-BTC on June 25 to reduce 30 businessfees and charges worth around 1 trillion VND (43 million USD), effective fromJuly 1 to December 31, 2021.

Specifically, 29 items have been omitted since 2020 and the first six months of2021, and one more additional reduction recently took effect for theagricultural sector.

Of which, business registration fees are cut by 70 percent; and corporateinformation disclosure rates are reduced by 67 percent. Appraisal charges forgranting of amendments and supplements for postal operation licences arereduced by 50-70 percent.

Fees for granting operation licences for credit institutions, appraisal chargerates for construction investment projects and 20 out of 22 fees and charges inthe securities sector are reduced by 50 percent.

From January 1, 2022, the charge and fee rates specified above shall complywith the original circulars.

The policy is aimed to reduce the financial burden for domestic industriesaffected by the pandemic, according to the ministry.

It said at present, the pandemic continues to impact countries worldwide andalso Vietnam, disrupting the global supply chain and affecting economicdevelopment.

Global economic development is forecast to be continuously affected by thepandemic throughout 2021. Many domestic industries and sectors facedifficulties, so production and business activities of enterprises arestagnant, especially businesses in the sectors of tourism, aviation andtransportation.

Therefore, the ministry has continued to issue circular 47 based on theResolution No 124/2020/QH14 of the National Assembly on the socio-economicdevelopment plan in 2021 and the Government's Resolution No 01/NQ-CP datedJanuary 1, 2021 on the main tasks and solutions to implement thissocio-economic development plan and the state budget estimates in 2021.

According to those resolutions, ministries, sectors and localities promulgateand implement specific policies in line with the developments occurring in theyear to remove difficulties and support businesses and people affected by thepandemic.

Previously, due to the impact of COVID-19, the finance ministry issued Circular112/2020/TT-BTC to reduce 29 fees and charge by 50-100 percent from January 1,2021, until the end of June 30, 2021.

They included a 50-percent reduction in the citizen identification fee, a 30-percentreduction in fee rates of the health sector, reduction of 10-30 percent in roadusage fees for passenger vehicles, and a 10-percent reduction in fee ratesrelating to food hygiene and safety./.