19/11/2021 0 Comments 0

Regulated entities

Regulated entities   1. Banks and foreign banks’ branches licensed for operating and providing foreign exchange (hereinafter referred to as “licensed banks”). 2. Vietnamese traders participating in goods transshipment (other than Vietnamese traders which are foreign-invested economic organizations) (hereinafter referred to as “traders”). 3. Other agencies, organizations and individuals related to payment and money transfer for transactions of goods transshipment. Article 3. Principles of payment and money transfer related to goods transshipment 1. Payment and money transfer related to goods transshipment shall be conducted by [...]

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16/11/2021 0 Comments 0

Consolidation and report

Consolidation and report   1. On a monthly basis, quarterly basis and yearly basis, Council for destroying money shall consolidate figures regarding destroying money and results of destroying money at each destroy body, report to Chairperson of Council for destroying money and send to Supervision council. 2. At the end of the year of destroying money, destroying bodies shall consolidate figures and produce records of results of total money destroyed at each body with confirmation of the Supervision council. The records shall be [...]

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12/11/2021 0 Comments 0

Inventory of defective money vault

Inventory of defective money vault   1. Defective money stored in vault shall be examined once a month on the last working day of the month. Inventory shall be implemented by Vice Chairperson in charge of destroying bodies, members of Council for destroying money managing money vault, heads of money destroying agency and employees performing accounting tasks for defective money vault; additional assistants may be summoned for inventory under supervision of Supervision council. 2. Inventory method shall comply with applicable regulations on [...]

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09/11/2021 0 Comments 0

Regulations on shredding

Regulations on shredding   1. Based on records for extracting defective money, leaders of Team 3 shall receive money from Team 1 and Team 2 in form of piles (bags) with whole seal as specified in Clause 2 and Clause 4 Article 16 of this Circular. 2. Shred the amount money received with specialized destruction machines to turn money into scraps; collect and preserve the scraps in the right place as per the law. 3. During break time and mid-day break, amount of [...]

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06/11/2021 0 Comments 0

Regulations on tallying defective money

Regulations on tallying defective money   1. Based on records of extracting defective money, individuals managing defective money vault shall extract the money to enable Team 1 to hand over to Team 2 under internal supervision of Department of Issuance and Treasury. 2. Leader of Team 2 shall receive the money in packages (boxes) with whole seal and lead intact, the sealing paper must fully include details according to regulations on sealing case of State Bank of Vietnam and assign each accountant [...]

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03/11/2021 0 Comments 0

Management of defective money vault

Management of defective money vault   1. Management of defective money vault shall comply with management of money vault and cash preservation of State Bank of Vietnam for Central money vault. 2. Individuals managing defective money vault a) 3 following individuals shall participate in managing defective money vault at each destroying body: 1 member of the Council for destroying money, 1 accounting employee and 1 keeper of defective money vault. b) Individuals managing defective money vault shall be decided by Governor of the State [...]

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29/10/2021 0 Comments 0

Tasks of specialized teams

Tasks of specialized teams   1. Team for assigning, receiving and preserving defective money (hereinafter referred to as “Team 1”): Receive defective money from the Central money vault to store in defective money storage; transport to Team for tallying and Team for destroying money; preserve money sent by other specialized teams; receiving and storing money qualified for circulation selected from tallying defective money. 2. Team for tallying defective money (hereinafter referred to as “Team 2”): Receive money from Team 1, tally each [...]

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26/10/2021 0 Comments 0

Council for destroying money

Council for destroying money   1. On a yearly basis, Governor of State Bank of Vietnam shall decide to establish Council for destroying money, consisting of: a) Chairperson: Director General of Department of Issuance and Treasury; b) 1 Standing vice Chairperson: Deputy Director General of Department of Issuance and Treasury shall be directly in charge of northern destroying body; c) 1 Vice Chairperson: Deputy Director General of Department of Finance – Accounting; d) 1 Vice Chairperson: Director General of Sub-department of Issuance in Ho Chi [...]

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22/10/2021 0 Comments 0

Refund or offset against paid charges

Refund or offset against paid charges   1. If the charges on vehicles prescribed in Point a, b, and c Clause 2 of Article 2 have been paid , the vehicle owners may claim a refund of paid charges or the paid charges shall be offset against the charges payable of next payment period. 1.1. Before taking cars as prescribed in Point c Clause 2 of Article 2 for repair, the vehicle owner must present the Record of accident scene certified by [...]

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19/10/2021 0 Comments 0

Regulated entities subject to charges

Regulated entities subject to charges   1. Road user charges (hereinafter referred to as charges) are imposed on road motor vehicles that are registered for operating on public roads (having certificates of vehicle registration and license plates), including: a) Cars, tractors; trailers, semi-trailers pulled by cars, tractors and other similar vehicles (hereinafter referred to as car); b) Two-wheel motorcycles, three-wheel motorcycles with cylinder capacities of ≥ 100 cm3, motorcycles with cylinder capacities of < 100 cm3 and other similar vehicles (hereinafter referred to [...]

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