Revenue Division of Public Service and Penalty Fees Clarified under New Joint Prakas
On 12 May 2021, the Ministry of Commerce (“MoC”) and Ministry of Economic and Finance (“MoEF”) issued three Joint Prakas on “the Public Service Fees of MoC”, “the Penalty Fees under MoC” and “the Division of the Public Service and Penalty Fees of the MoC”.
These Prakas clarify the revenue division of public service and penalty fees of MoC and are in accordance with the decision of the Minister of MoC. The distribution will be based on each officers’ effort and will account for targets that have been set including the payments to the national budget, bonuses of MoC, bonuses to any other funds, and bonuses of MoEF.
These Prakas also revise the trademark filing fees and expected timeframes. The applicant is now required to pay the filing, examination, registration, and publication fees at the filing stage instead of paying step by step. Under the new Prakas the registration process will take approximately five to seven months to complete instead of six to nine months.
These three Prakas will enter into force from 26 May 2021 onward.
This alert is for general information only and is not a substitute for legal advice.