The Stock Market Shift: A New Era for Investors

Updates to Securities Fees and Charges: VNDirect, FPT Securities, and More

As of July 1st, 2025, the new Value-Added Tax Law No. 48/2024/QH15 comes into force. Some securities activities previously exempt from tax will now be subject to a 10% VAT rate.

In their latest announcement, VNDirect Securities disclosed updates to their fees, effective from July 1st, 2025, due to the new tax law. The new fees include VAT as per the legal requirements.

The securities custody fee has been adjusted to 0.297 VND/share, fund certificate, or covered warrant/month, up from 0.27 VND. Similarly, the fee has increased from 0.2 VND/bond/month to 0.22 VND/bond/month.

For securities transfers due to account liquidation or inter-member transfers, the new fee is 1.1 VND/security/transfer, with a minimum of 110,000 VND and a maximum of 2,200,000 VND.

The fee for freezing securities once at the customer’s request has increased from 100,000 VND/time to 110,000 VND/time.

Regarding the registration of security measures at VSDC, the fee for initial registration has increased to 88,000 VND/file, and the fee for changing the content of the registered security transaction has been raised to 66,000 VND/file. The deletion registration fee is now 22,000 VND/file.

FPT Securities (FPTS) has also announced that some of their services will be subject to VAT, including securities custody fees (for stocks, bonds, and debt instruments), securities blocking fees, various transfer fees, withdrawal fees, and more.

Additionally, some services are VAT-exempt, such as securities trading activities like brokerage, proprietary trading, underwriting, investment advisory, fund management, and portfolio management as stipulated by law, and capital transfer.

Bao Viet Securities (BVSC) informed that they would perform a monthly reconciliation and issue VAT invoices for all service fees incurred during the month, including brokerage fees, custody fees, lending interest for margin trading, pre-sale stock lending interest, and message service fees (if any).

To ensure accuracy and transparency, BVSC clients are required to reconcile service fees within three days from the first working day of the following month through the service fee reconciliation tool integrated into BVSC’s online trading system. If BVSC does not receive any feedback or queries during this period, it is assumed that the client has confirmed the accuracy of the data, and BVSC will proceed with VAT invoicing accordingly.

Saigon-Hanoi Securities (SHS) has also made adjustments to their fee schedule, with taxable services including custody, transfer, withdrawal, derivatives compensation, and managed collateral. Specifically, the custody fee for stocks, fund certificates, and covered warrants has increased from 0.27 VND to 0.297 VND/share/month, the withdrawal fee has been raised from 0.2% to 0.22% of the value of securities, and the transfer fee has increased from 0.25% to 0.275%.