CIRCULAR NoCIRCULAR No. 62/2001/TT-BTC OF AUGUST 1, 2001 GUIDING THE PAYMENT OF EXPORT TRANSACTION AND BROKERAGE COMMISSIONS
In furtherance of the Government�s Resolution No. 08/1999/NQ-CP of July 9, 1999 on solutions to the execution of the implementation of the tasks in the last 6 months of 1999; in order to encourage and step up export, on January 5, 2000, the Ministry of Finance issued Circular No. 01/2000/TT-BTC, guiding the payment of export transaction and brokerage commissions;
In order to further encourage and step up export with a view to increasing foreign currency earning for the country in the spirit of the Government�s Resolution No. 05/2001/NQ-CP of May 24, 2001;
On the basis of the comments of the Ministry of Trade, the Ministry of Planning and Investment and the Government Pricing Committee at the June 14, 2001 meeting and the Prime Minister�s directing opinion in Official Dispatch No. 3075/VPCP-KTTH of July 10, 2001 of the Government�s Office, the Ministry of Finance hereby guides the payment of export transaction and brokerage commissions as follows:
I. GENERAL PROVISIONS
1. The regime of export transaction and brokerage commissions prescribed in this Circular applies to enterprises which conduct direct exportation or entrusted exportation (hereafter called enterprises for short).
2. The export transaction and brokerage commissions prescribed in this Circular are sums of money to be paid by enterprises to foreigners and Vietnam�s overseas diplomatic missions (including trade representations) that helped them sell their goods, increase their export turnover thanks to the finding of new customers and/or new markets; helped them sell their goods which are difficult to find outlets or maintain their traditional customers who purchase their goods regularly so that the enterprises can effectively conduct their export activities.
Foreigners prescribed in this Circular mean foreign organizations and individuals that act as brokers for exporting enterprises, or directly import goods from enterprises and demand the commissions.
3. Export transaction and brokerage commissions shall be paid after enterprises have already signed export contracts and effected the export with results.
4. The export transaction and brokerage commission levels are determined on the basis of each export contract�s economic efficiency of the transaction and brokerage activities.
5. Depending on its specific conditions and circumstances, each enterprise shall elaborate a Regulation on payment of export transaction and brokerage commissions for uniform and public application within the enterprise. The principal contents of the Regulation must contain the following details: Application objects, contract or written certification on export transaction or brokerage activities, principles to be followed upon the expiry or liquidation of the transaction or brokerage contract,� Such Regulation shall be approved by the enterprise�s Managing Board or Director (for enterprises without managing boards).
6. Vietnamese organizations and individuals (except Vietnam�s overseas diplomatic missions, including trade representatives) that are engaged in the export transaction and brokerage activities may enjoy brokerage commissions stipulated in the Finance Ministry�s Circular No. 01/1998/TT-BTC of January 3, 1998 "Guiding the application of service charges and brokerage commissions in State enterprises".
II. SPECIFIC PROVISIONS
1. Subjects entitled to export transaction and brokerage commissions are specified at Point 2, Section I of this Circular.
Export transaction and brokerage commissions do not apply to the following cases:
- Goods exported as aid to foreign countries;
- Goods exported in form of barter;
- Re-exported goods.
2. Export transaction and brokerage commission levels:
The specific levels shall be considered and determined by enterprises themselves on the basis of agreements reached with their partners, depending on the efficiency of each transaction and brokerage activity and this must ensure the principle of economy, publicity, transparency and self-responsibility.
Export transaction and brokerage activities shall be considered efficient if they:
- Help enterprises export their goods, especially goods which are difficult to find outlets and with lower and lower competitiveness; find new customers and/or markets; maintain traditional customers (that directly purchase the enterprises� goods regularly at reasonable prices and demand commissions);
- Help enterprises export their goods with prices higher than export market prices at the time of exportation;
- Particularly for farm produce and foodstuffs, the exportation thereof may not yield profits but still bring about general efficiency (if such goods are left unsold, the loss amount may be bigger; if markets are maintained and the market proportion is expanded in the importing countries), brokerage commissions may be paid according to the provisions of this Circular.
3. Competence to decide the payment of export transaction and brokerage commissions:
3.1. For goods exported under the Government�s agreements/contracts, the Minister of Finance shall consider, decide and report thereon to the Prime Minister.
3.2. For enterprises� commercial export goods: Basing themselves on the approved Regulation and economic efficiency of each export contract brought about by transactions and/or brokerage, such enterprises� directors shall reach agreement with their partners and decide on the commission levels.
4. Export transaction and brokerage commissions must be stated in contracts, addenda or annexes thereto and evidenced by lawful vouchers.
In cases where beneficiaries of export transaction and brokerage commissions cannot sign payment bills or do not agree to state them in the contracts, addenda or annexes thereto, the payment vouchers must be signed by directors, chief accountants and cashiers of the exporting enterprises.
In such cases, if mediators directly receive money and then transfer them to the beneficiaries of export transaction and brokerage commissions, such mediators must sign (clearly stating their full names and addresses) the money receipts and bear personal responsibilities before enterprises and laws therefor.
5. Export transaction and brokerage commissions shall be accounted into enterprises� sale cost (commissions in foreign currencies shall be converted into Vietnam dong according to the average actual buying rate on the inter-bank foreign currency market, announced by the State Bank at the time of commission payment) and comply with the regime of financial publicity according to current regulations.
In all cases, the export transaction and brokerage commission payment proposers and deciders shall have to take responsibilities for their own decisions. If the payment-deciders abuse the prescribed regime to make payment for the wrong purposes or to wrong subjects, they shall be held responsible before law.
III. IMPLEMENTATION PROVISIONS
1. This Circular takes effect as from June 1, 2001 and replaces the Finance Ministry�s Circular No. 01/2000/TT-BTC of January 5, 2000.
2. Any difficulties or problems arising in the course of implementation should be reported by enterprises to the Ministry of Finance for study and settlement.
For the Minister of Finance
Vice Minister
TRAN VAN TA