In order to simplify administrative procedures, the Ministry of Finance and the Ministry of Justice jointly issued on January 17 Joint Circular No. 08/2012/TTLT-BTC-BTP, on collection, remittance, management and use of notarization charges.
Accordingly, from March 15, public notary offices will apply seven charge rates instead of the current four for the notarization of contracts on transfer or donation of land use rights or contribution of land use rights as capital; contracts on sale/purchase or donation of other properties or contribution of other as capital; contracts on lease of land use rights or properties; contracts on capital borrowing; economic, commercial, investment, business, mortgage or guarantee contracts, etc.
The seven new levels of charge-liable contract value are: under VND 50 million; between VND 50 and 100 million; between over VND 100 million and 1 billion; between over VND 1 and 3 billion; between over VND 3 and 5 billion; between over VND 5 and 10 billion; and over VND 10 billion.
The current four categories include under VND 100 million; between VND 100 million and 1 billion; between VND 1 and 5 billion; and over VND 5 billion.
Notarization charge rates range from VND 50,000 to under VND 10 million per contract.
There will be no change for contracts in which notarization charges are not determined according to property value or value stated in contracts, including those on transfer of agricultural land use rights, notarization of proxy contracts or powers of attorney, and notarization of cancellation of contracts or transactions.