(ĐTCK) After a long delay, the representative of the Ministry of Finance said that in August, it is expected that the plan of setting up a voluntary retirement fund under the trust model will be set by the Ministry on the basis of receiving opinions ministries, industries, enterprises ... to submit to the Government for consideration.
(ĐTCK) After a long delay, the representative of the Ministry of Finance for the development of the fund management industry in the coming time will greatly depend on the successful implementation of the HTTN Fund.
Representing the Department of Banking and Finance, Ministry of Finance, the assigned unit presided over the drafting of the Decree on voluntary retirement fund (HTTN) according to the trust model, said that the draft is being urgently completed. , to prepare for public comment of market members. Since this is the first proposed model to be deployed in Vietnam, the Drafting Board has thoroughly studied international experience, as well as based on the practical context of Vietnam, to propose the implementation plan. Feasibility.
According to the plan to set up an HTTN fund that the Ministry of Finance is about to submit to the Government for consideration and approval, in addition to clarifying the organization and operation model of the fund, the legal framework also sets out the mechanisms for contribution, payment and early limit from the fund, principles of information transparency, monitoring the fund's operations, to ensure the fund's safe and efficient operation.
The representative of the Ministry of Finance acknowledged that the formation of HTTN Fund will contribute to increase the considerable and sustainable demand for the stock market and at the same time create a new development space for fund management companies through trust management. investment funds from HTTN Fund into stock market ...
The fact that the Ministry of Finance is about to publish a draft Decree on HTTN Funds is attracting the attention of market members, especially in the context that there are currently "noisy" information regarding this policy formulation. Specifically, Deputy Minister of Labor, War Invalids and Social Affairs Pham Minh Huan said that there is confusion, overlapping in building legal framework for the HTTN to be born and operated, when the Ministry of Labor and Trade Military and Social Affairs are also being assigned to build two draft decrees guiding the implementation of the Social Insurance Law on additional pension insurance and HTTN insurance.
At the request of the Prime Minister, the Ministry of Finance should submit to the Government a draft Decree on HTTN according to the trust model in 2014. However, due to the need for more thorough research on the tissue The organization and implementation of a rather complex and completely new model for Vietnam, the Ministry of Finance has proposed to delay the deadline for submission of draft decrees around the second quarter of 2015, but now continues to move back to third quarter 2015. The question that market members ask is, in addition to the need to have more thorough research on the implementation plan of the HTTN, whether or not the situation is embarrassing, overlapping in policy formulation, should lead Is there a delay in the mechanism for the HTTN Fund? If this delay continues, it will not only cause disappointment to market members, but it will be difficult to achieve the goal as the Prime Minister requires that by 2020, the accumulated revenue of HTTN funds to investment back to the economy, including capital market, stock market with about VND 10,000-12,000 billion ...
In the opinion of fund management companies, if this year, the HTTN Fund is allowed to establish and operate, will create a breakthrough for the fund management industry. In the period of 2015 - 2016, as well as longer, the development of the fund management industry will depend greatly on the successful deployment of HTTN Fund ... International experience shows that large investment funds most in the world are pension funds, which create huge demand for the stock market.
Need tax incentives
In addition to the reasons for not matching the appetite of investors, the lack of support policies, especially fees and taxes, is making the fund open and the ETF fund operates as dimly as it is now. Therefore, experts in the investment fund field said that do not let this "dumping car" repeat when deploying HTTN, if managers want to promote the HTTN development.
According to international practice, the consideration of taxation for the HTTN is considered at three stages: the initial contribution, the income received from the Fund's investment and withdrawal from the HTTN Fund. While most countries are exempt from tax for the first two periods, some countries only tax when workers withdraw money from HTTN, many countries such as Korea, Czech, Finland ... are exempted from tax. All 3 phases are to encourage the HTTN to develop.
Friendship
Source: tinnhanhchungkhoan.vn
