This Decision amends and supplements certain provisions regarding the sale of foreign currency from organizational foreign exchange income according to Circular No. 08/1998/TT-NHNN7. The new regulations require banks to immediately purchase 80% of foreign currency for economic organizations and 100% for non-profit organizations from foreign exchange income, while also stipulating the handling of foreign currency when the source of income cannot be proven. The Decision also supplements the requirement for banks to report their foreign currency purchasing situation at the end of each day.
적용 범위
Economic organizations and non-profit organizations have the obligation to sell foreign currency, and banks have the responsibility to purchase foreign currency from organizational foreign exchange income.
핵심 사항
- When economic organizations and non-profit organizations have foreign exchange income, they must immediately sell 80% of the foreign currency to the Bank (100% for non-profit organizations).
- If the source of income cannot be proven, the Bank will purchase the remaining foreign currency from the 'management and custody' account.
- Banks have the responsibility to report their foreign currency purchasing situation at the end of each day.
- Economic organizations must present foreign currency purchase and sale contracts when selling immediate foreign currency to the Bank that is not the authorized bank receiving the income source.
- Tác động tích cực: Helps manage foreign currency sources from economic and non-profit organizations more effectively, ensuring compliance with foreign currency sales regulations.
🌐 이 문서의 사회적 영향
- Positive impact: Helps manage foreign currency sources from economic and non-profit organizations more effectively, ensuring compliance with foreign currency sales regulations.
- Negative impact: May create additional workload for organizations when they need to prove foreign exchange income, and requires banks to report regularly.
❓ 자주 묻는 질문
Economic organizations must sell what percentage of foreign currency from foreign exchange income?
Economic organizations must immediately sell 80% of the foreign currency from foreign exchange income to the Bank (100% for non-profit organizations).
How will the Bank handle it if the source of income cannot be proven?
After three working days, if the organization cannot prove the source of foreign exchange income, the Bank will purchase the remaining foreign currency from the 'management and custody' account.
What reporting responsibilities do banks have regarding foreign currency purchases?
Authorized banks must report at the end of each working day to the State Bank (Department of Foreign Exchange Management) about the foreign currency purchasing situation of the entire banking system on the attached reporting form.
When must economic organizations present foreign currency purchase and sale contracts?
When selling immediate foreign currency to the Bank that is not the authorized bank receiving the income source, economic organizations must present foreign currency purchase and sale contracts before the date or on the date the foreign currency is credited to the deposit account at the Bank.
When does this Decision take effect?
This Decision takes effect from the date of issuance.
전문
DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM
Regarding the amendment,
supplementation of some points in Circular 08/1998/TT-NHNN7
dated September 30, 1998 guiding the implementation of Decision 173/1998/QĐ-TTg dated September 12, 1998
The Government Prime Minister
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of ministries and ministerial-level agencies;
Pursuant to Article 3 of Decision No. 232/1998/QĐ-TTg dated December 1, 1998 amending Clause 1 and 2 of Article 1 of Decision No. 173/1998/QĐ-TTg dated September 12, 1998 of the Prime Minister regarding the obligation to sell and the right to buy foreign currency of Resident Individuals who are organizations;
Considering the proposal of the Director of the Foreign Exchange Management Department;
DECISION:
Article 1: Amending and supplementing some points in Circular 08/1998/TT-NHNN7 dated September 30, 1998 guiding the implementation of Decision 173/1998/QĐ-TTg dated September 12, 1998 of the Prime Minister as follows:
1.1 Amend point A of Part IV of Circular 08/1998/TT-NHNN7 as follows:
"A. Obligation to sell foreign currency from current account receipts:
1. For those receipts that have been identified as current account: From the date when foreign currency from current account receipts is credited to the foreign currency deposit account of the organization (including economic organizations and non-profit organizations with the obligation to sell foreign currency as stipulated in Points 1 and 2 of Part II of Circular 08/1998/TT-NHNN7), the bank where the account is opened shall be responsible for purchasing immediately 80% of the foreign currency for economic organizations or 100% for non-profit organizations and crediting it to the organization's Vietnamese dong account. In cases where the organization sells foreign currency to another authorized bank, it shall be implemented according to the provisions of Points 5 and 6 of this Decision.
In the case where an organization with current account receipts must sell but has not yet opened a Vietnamese dong account at the bank, the authorized bank may automatically open a Vietnamese dong account for the organization to immediately purchase foreign currency.
2. For those receipts that have not been determined as current account or non-saleable receipts as stipulated in Part III of Circular 08/1998/TT-NHNN7: From the date when foreign currency is credited to the organization's deposit account, the bank shall be responsible for transferring immediately 80% of the foreign currency for economic organizations or 100% for non-profit organizations to the "management and custody" account, and notify the organization within three working days of the need to present evidence proving that the foreign currency received is non-saleable according to the regulations in Part III of Circular 08/1998/TT-NHNN7.
a. Within the above three working days, if the organization can prove that the receipt is non-saleable according to Part III of Circular 08/1998/TT-NHNN7, the bank shall be responsible for transferring back the foreign currency to the organization's deposit account.
b. After the above three working days, if the organization does not fulfill its obligation to sell foreign currency or cannot prove that the receipt is non-saleable, the bank may immediately purchase the foreign currency in the "management and custody" account.
3. For foreign currency from current account receipts of Resident Individuals who are organizations transferred to the "management and custody" account before the effective date of this Decision, within three working days from the effective date of this Decision, the organization shall be responsible for presenting evidence to the authorized bank about non-saleable receipts.
If the organization can prove that the receipt is non-saleable, the authorized bank shall be responsible for transferring back the foreign currency to the organization. After the above three working days, if the organization cannot prove that the receipt is non-saleable, the bank shall immediately purchase the foreign currency.
4. The bank may pay interest in foreign currency on foreign currency in the "management and custody" account, at the interest rate for deposits as specified by the bank. The period for calculating interest starts from the date when the money is transferred to the "management and custody" account until the date when the foreign currency is sold to the bank or transferred back to the organization's deposit account.
5. From the effective date of this Decision, if organizations sell immediately the foreign currency they are required to sell according to the regulations to a bank other than the authorized bank receiving the current account receipts, the organization shall be responsible for presenting the spot foreign currency purchase and sale contract before or on the date when the foreign currency is credited to the deposit account at the bank receiving the current account receipts.
The receiving bank shall transfer the foreign currency of the organization to the bank that signed the spot foreign currency purchase contract based on the spot foreign currency purchase and sale contract. The bank that signed the spot foreign currency purchase contract shall be responsible for immediately purchasing the foreign currency.
6. For forward foreign currency purchase and sale contracts:
a. Forward foreign currency purchase and sale contracts from current account receipts that must be sold, signed between banks and organizations before the effective date of this Decision, may continue to be executed according to the forward contracts already signed.
In cases where the bank purchases foreign currency according to a forward foreign currency purchase and sale contract that is not the receiving bank for the current account receipts, the organization shall be responsible for presenting the forward foreign currency purchase and sale contract before or on the date when the foreign currency is credited to the deposit account at the receiving bank.
The receiving bank shall transfer the foreign currency of the organization to the bank that signed the forward foreign currency purchase contract with the organization based on the forward foreign currency purchase and sale contract. The bank that signed the forward foreign currency purchase contract shall be responsible for immediately purchasing the foreign currency according to the agreed term.
b. From the effective date of this Decision, forward foreign currency purchase and sale contracts from current account receipts that must be sold between economic organizations and banks must comply with the payment terms of export contracts or service contracts with foreign countries to ensure that current account receipts are immediately sold to the bank.
Economic organizations shall be responsible for presenting the forward foreign currency purchase and sale contract and the export contract or service contract to the receiving bank. The receiving bank shall transfer the foreign currency of the organization to the bank that purchases according to the forward foreign currency purchase and sale contract based on the agreed term. The bank that purchases according to the forward foreign currency purchase and sale contract shall be responsible for immediately purchasing the foreign currency according to the agreed term."
1.2 Supplement Point 4 of Part VII of Circular 08/1998/TT-NHNN7 as follows:
"The permitted banks shall be responsible for reporting at the end of each working day to the State Bank of Vietnam (Department of Foreign Exchange Management) on the situation of purchasing foreign currency by the entire banking system on that day according to the attached report form.
The attached report form under this Decision replaces the attached report form in Circular No. 924/CV-NHNN7 dated October 7, 1998 regarding the reporting of the implementation of Decision No. 173/1998/QĐ-TTg dated September 12, 1998 of the Prime Minister.
Article 2: This Decision shall take effect from the date of signing.
Article 3: The heads of Departments, Bureaus, Office Directors, Inspectors under the State Bank of Vietnam, Governors of Provincial and Municipal State Banks, General Directors (Directors) of commercial banks, joint venture banks, joint-stock banks, and branches of foreign banks within their respective functions shall be responsible for organizing, guiding, and implementing this Decision.
FOREIGN CURRENCY PURCHASE SITUATION REPORT FROM PERMANENT INCOME SOURCES
OF ORGANIZATIONS RESIDENTS
(Date)
Unit: Equivalent USD: State Bank of Vietnam
(Department of Foreign Exchange Management)
Fax: 04 8268789
Name of reporting bank:
Telephone number:
1. Data Table
Unit: USD
|
Organization |
Amount of NT purchased on the day |
Amount of NT deposited into the "management and custody" account on the day |
Balance of the "management and custody" account |
|
1. Economic organizations |
|
|
|
|
2. Non-profit organizations. |
|
|
|
2. Difficulties encountered during the implementation process."
General Director (Director)
(Signature and stamp)
관계도
문서를 클릭하면 열립니다. 빨간 테두리＝효력을 변경하는 관계.
번역본
이 문서는 다음 언어로 제공됩니다: