Value of transactions must be reported to the State Bank
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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