This Circular provides guidelines for foreign currency transactions on domestic foreign currency market among credit institutions authorized to make foreign currency transactions and between authorized credit institutions and their clients. Read more
Articles 16 and 17 of this Circular regulates the use of VND for purchase of foreign currencies before the payment deadline by clients.
This Circular takes effect from May 17th, 2021 and replace Circular No. 15/2015/TT-NHNN dated October 2nd, 2015.
Because from January 15th, 2021 procedures for grant of licenses for import of gold materials for foreign direct investment (FDI) enterprises are carried out through the National Single-window Information Portal nationwide, the enterprises shall be exempt from submission of the paper-based licenses for import of gold materials to customs authorities. Read more
Instead, customs officials shall look up information about the licenses for import of gold materials on the E-Customs system in necessary cases.
In addition, upon performing the deduction in licenses on V5 system, Sub-departments of customs shall issue the deduction monitoring notes and certify thereon to facilitate the enterprises to complete the application for annual quota for import of gold materials.
According to this Official letter, from January 15th, 2021, the State Bank of Vietnam will officially connect to the single-window Customs in order to settle procedures for grant of licenses for import of gold materials with regard to foreign direct investment (FDI) enterprises (for manufacture of gold jewelry and fine art) under the National single window system. Read more
Accordingly, from January 15th, 2021, FDI enterprises may declare procedures for obtaining licenses for import of gold materials on National Single-window Information Portal.
This document is to merge the amendments, supplements of Circular No. 19/2018/TT-NHNN dated August 28th, 2018 and Circular No. 17/2020/TT-NHNN dated December 14th, 2020 into Circular No. 33/2013/TT-NHNN dated December 26th, 2013 of the Governor of the State Bank of Vietnam on guidance on procedures for approval for export and import of foreign currency cash of authorized banks.
This Circular amends application, forms and procedures for permission for exportation and importation of foreign currency cash of banks. Read more
This Circular takes effect from February 1st, 2021.
According to Clause 4 Article 14 of Decree No. 24/2012/ND-CP, enterprises doing gold business that have contracted to process gold jewelry and fine arts for foreign partner must apply for the license to temporarily import gold material at the State Bank of Vietnam. Read more
The import of gold material, including semi-finished golden jewellery, for processing shall be carried out in conformity with the Certificate of business registration or the Certificate of enterprise registration (Clause 8 Article 14 of Decree No. 24/2012/ND-CP ).
This document is to note that when enterprises import gold wires for manufacture of components of mobile phones they have to comply with regulations related to the import of materials for manufacture of electronic components Read more
In addition, every quarter, enterprises have to send the report on their import and use of gold wires enclosed with the customs declarations of the preceding quarter to the State Bank of Vietnam (the Foreign Exchange Control Department). In case the enterprises fail to send the report, the State Bank of Vietnam shall coordinate with customs authorities in handling.
The Customs Department of Ho Chi Minh city requests enterprises to study the following regulations when they perform the processing of gold jewelry for foreign traders: Read more
- Gold material belongs to the List of goods imported/exported under the license granted by the State Bank of Vietnam (Section VIII Annex III of Decree No. 69/2018/ND-CP)
- For gold imported under the license, a trader may only enter into a processing contract with a foreign trader after obtaining the license issued by the Ministry of Industry and Trade (Article 38 of Decree No. 69/2018/ND-CP)
- Enterprises doing gold business that have contracted to process gold jewelry for foreign partners must be issued with the license to temporarily import gold for re-export of products by the State bank (Clause 4 Article 14 of Decree No. 24/2012/ND-CP).
- The license for temporary import of gold material for processing gold jewelry for foreign partners shall be granted only when the enterprises meet the conditions at Article 4 of Circular No. 16/2012/TT-NHNN (amended at Circular No. 38/2015/TT-NHNN).
In case an export processing enterprise (EPE) imports gold pellets for plating on frames serving the manufacture of electronic chips, the SBV requests the EPE to comply with the regulations of laws pertaining to import of raw materials for manufacture of electronic components. Read more
Concurrently, every quarter (on 10th of the first month of the subsequent quarter), the EPE has to send to the SBV the report enclosed with the quarterly customs declaration on: (i) the situation of import and use of gold pellets serving the manufacture of electronic chips; (ii) the export of the electronic chips.
If the EPE fails to send the report, the SBV shall offer document to coordinate with customs authority to settle the EPE’s import of gold pellets.
According to the State Bank of Vietnam’s opinions, the FX broker service does not belong to the List of conditional business lines as regulated at Annex 4 of the Law on Investment No. 67/2014/QH13 and Law No. 03/2016/QH14 on amending, supplementing to the Law on Investment No. 67/2014/QH13 . Read more
Relating to foreign exchange, “foreign exchange activities by non-credit institutions” belong to conditional business lines (Clause 241 Annex 4 of Law No. 03/2016/QH14).
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