Circular No. 03/2017/TT-NHNN Amending and supplementing certain provisions of Circular No. 16/2012/TT-NHNN dated May 25, 2012, issued by the Governor of the State Bank of Vietnam guiding certain provisions of Decree No. 24/2012/NĐ-CP dated April 3, 2012, of the Government on the management of gold trading activities.

CIRCULAR

Amending and supplementing certain đArticle of 19/2018/TT-BGTVT) which has been amended and supplemented by Clause 7, Article 1 of Circular No. 08/2024/TT-BGTVT dated April 4, 2024, issued by the Minister of Transport, amending and supplementing certain articles of Circular No. 19/2018/TT-BGTVT Decision No. 16/2012/TT-NHNN dated May 25, 2012, of the Governor of the State Bank of Vietnam Vietnam guiding certain provisions of the Decree number 24/2012/NĐ-CP dated April 3, 2012, of the Government on gold business management

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

No. 06/2013/UBTVQH13 dated March 18, 2013;

Pursuant to Government Decree No. 16/2017/NĐ-CP dated February 17, 2017 on the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Pursuant to Decree No. 24/2012/NĐ-CP dated April 3, 2012 of the Government on gold trading activities management;

At the proposal of the Director of the Department of Foreign Exchange Management;

The Governor of the State Bank of Vietnam issues this Circular amending and supplementing some articles of Circular No. 16/2012/TT-NHNN dated May 25, 2012, of the Governor of the State Bank of Vietnam guiding certain provisions of the Governmental Decree No. 24/2012/NĐ-CP dated April 3, 2012, on gold business management (hereinafter referred to as Circular No. 16/2012/TT-NHNN).

Article 1. Amending and supplementing some articles of Circular No. 16/2012/TT-NHNN as follows:

1. Article 8 shall be amended and supplemented as follows:

“Article 8. Documents for applying for a Certificate of Eligibility for Gold Jewelry and Artisanal Gold Production

1. Application form for a Certificate of Eligibility for Gold Jewelry and Artisanal Gold Production (in accordance with Form 1 attached to this Circular).

2. Business registration certificate and documents proving that the enterprise has registered for gold jewelry and artisanal gold production activities in accordance with the law.

3. Document or evidence proving ownership or right to use the production site; declaration on facilities and equipment serving gold jewelry and artisanal gold production activities.”

2. Article 9 is amended and supplemented as follows:

“Article 9. Documents for applying for a License for Buying and Selling Gold Bars

1. Documents for applying for a License for Buying and Selling Gold Bars for enterprises include:

a) Application form for a License for Buying and Selling Gold Bars (in accordance with Form 2 attached to this Circular);

b) List of locations registered as buying and selling gold bar sites (head office, branch, trading location);

c) Business registration certificate, branch operation certificate, and documents showing the registered buying and selling gold bar sites listed at point b clause of this article have been registered for business or notified to the competent business registration authority in accordance with the law;

d) Confirmation from the tax authority regarding the amount of tax paid for gold business operations in the two consecutive years prior to the application.

2. Documents for applying for a License for Buying and Selling Gold Bars for credit institutions include:

a) Application form for a License for Buying and Selling Gold Bars (in accordance with Form 3 attached to this Circular);

b) List of locations registered as buying and selling gold bar sites (head office, branch, transaction office);

c) Business registration certificate, branch operation certificate, and documents showing the registered buying and selling gold bar sites listed at point b clause of this article have been registered for business or notified to the competent business registration authority in accordance with the law.”

3. Supplementing Article 9a as follows:

“Article 9a. Documents for Modifying a License for Buying and Selling Gold Bars

1. In case of changing information about the enterprise on the License for Buying and Selling Gold Bars, the documents include:

a) Request for modification of information about the enterprise on the License for Buying and Selling Gold Bars;

b) Business registration certificate.

2. In case of changing the name or address of the buying and selling gold bar site:

a) For enterprises, the documents include:

i) Request for modification of the name or address of the buying and selling gold bar site (in accordance with Form 3a attached to this Circular);

ii) Business registration certificate or branch operation certificate or document showing the change of the buying and selling gold bar site has been registered for business or notified to the competent business registration authority in accordance with the law;

b) For credit institutions, the documents include:

i) Request for modification of the name or address of the buying and selling gold bar site (in accordance with Form 3a attached to this Circular);

ii) Business registration certificate (in case of changing the main office address); report from the credit institution on the change of the transaction office name (in case of changing the name of the buying and selling gold bar site).

3. In case of adding a buying and selling gold bar site, the documents include:

a) Request for addition of a buying and selling gold bar site (in accordance with Form 3b attached to this Circular);

b) Document showing the trading site has been registered for business or notified to the competent business registration authority in accordance with the law.

4. In case of requesting termination of buying and selling gold bar activities at a permitted site, the documents include a request for termination of buying and selling gold bar activities at the permitted site, specifying the reasons.”

4. Article 19 is amended and supplemented as follows:

 “Article 19. Reporting Obligations of the State Bank Branches in Provinces and Cities

1. Quarterly and annually, the State Bank Branches in provinces and cities shall compile reports to the Governor of the State Bank of Vietnam (through the Foreign Exchange Management Department) on the management of gold trading activities within their jurisdiction (in accordance with the form at Appendix 12 of this Circular).

2. Quarterly, the State Bank Branches in provinces and cities shall report to the State Bank of Vietnam (Foreign Exchange Management Department) on the issuance, recovery, and adjustment of Certificates of Eligibility for Gold Jewelry and Artisanal Gold Production in the preceding quarter (in accordance with the form at Appendix 12a of this Circular).

3. Quarterly, the State Bank Branches in provinces and cities shall compile reports on the purchase of raw gold by enterprises within their jurisdiction in the preceding quarter and submit them to market regulatory agencies and tax authorities for coordinated monitoring and inspection.

4. When issuing permits for importing raw gold for gold jewelry and artisanal gold production, when issuing or adjusting temporary import permits for re-exported products for enterprises, the State Bank Branches in provinces and cities shall send one copy to the State Bank of Vietnam (Foreign Exchange Management Department).

5. The deadlines for submitting periodic reports as stipulated in Clause 1, 2, and 3 of this Article are as follows:

a) For quarterly reports: the twentieth day of the first month of the following quarter;

b) For annual reports: the twentieth day of January of the following year.”

Article 2.

1. Repeal Clause 3 of Article 10 of Circular No. 16/2012/TT-NHNN.

2. Replace the phrase “Month ... Year ...” with the phrase “Quarter ... Year ...” and replace the phrase “reporting month” with the phrase “reporting quarter” in Appendix 12a issued together with Circular No. 16/2012/TT-NHNN.

3. Repeal the phrase “- SBV (Foreign Exchange Management Department) (for circulation)” in the “Distribution” section of Appendices 16, 20, and 21 issued together with Circular No. 16/2012/TT-NHNN.

This Circular takes effect from December 25, 2025/.

The Director of the Office, Heads of Departments under the State Bank of Vietnam, Governors of State Bank Branches in provinces and cities directly under the Central Government, Chairpersons of the Board of Directors, Chairpersons of the Board of Members, General Managers (Directors) of credit organizations, and enterprises engaged in gold trading operations are responsible for implementing this Circular.

Article 4. Implementation provisions

1. This Circular takes effect from July 22, 2017.

2. This Circular abolishes Clause 3, Clause 5, Clause 6, Clause 19 of Article 1 and Appendix 1a issued together with Circular No. 38/2015/TT-NHNN dated December 31, 2015 of the Governor of the State Bank of Vietnam amending and supplementing certain provisions of Circular No. 16/2012/TT-NHNN dated May 25, 2012 of the Governor of the State Bank of Vietnam guiding certain provisions of Decree No. 24/2012/NĐ-CP dated April 3, 2012 of the Government on the management of gold trading activities./.