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Home / Economy / Banking & Finance
Value of transactions must be reported to the State Bank
By Minh Le 13:59, 2013/05/16
On April 18, the Prime Minister issued Decision 20/2013/QD-TTg o­n high value transactions subject to report ("Decision 20").
The Hanoitimes - On April 18, the Prime Minister issued Decision 20/2013/QD-TTg o­n high value transactions subject to report ("Decision 20").

Decision 20 provides that financial institutions and organisations/individuals doing business in non-financial sectors shall report to the State Bank of Viet Nam o­n the transactions valued at VND300 million or more compared to the previously regulated VND 200 million under Decree 74/2005/ND-CP.

The relevant non-financial sectors include gambling and casino business; real estate management, real estate brokers and real estate trading floor business, precious metals and gems business; notary and accounting services, legal services; investment trust, corporate establishment and management service; and director and chief secretary subleasing service.

Decision 20 shall take effect o­n June 10.
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