Decision No. 46/2003/QD-TTg stipulates that there shall be no mandatory ratio for selling foreign currency from non-resident receipts for residents who are economic organizations and social organizations. This decision replaces previous decisions and takes effect fifteen days after its publication in the Official Gazette.
Đối tượng áp dụng
Resident entities include Vietnamese economic organizations, foreign-invested enterprises, foreign parties participating in business cooperation contracts, branches of foreign companies, foreign contractors, joint venture contractors with foreign partners, resident entities which are state agencies, armed forces units, political organizations, political-social organizations, social organizations, occupational associations, social funds, charitable funds of Vietnam.
Các điểm cốt lõi
- Residents who are economic organizations and social organizations are not required to sell foreign currency from non-resident receipts according to any mandatory ratio.
- This decision replaces previous decisions regarding the obligation to sell and the right to buy foreign currency for resident entities.
- This decision takes effect fifteen days after its publication in the Official Gazette.
- The Governor of the State Bank of Vietnam is responsible for guiding the implementation of this Decision.
- Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairpersons of People's Committees of provinces and centrally governed cities are responsible for implementing this Decision.
🌐 Tác động xã hội từ văn bản này
- Positive impact: Reduces the burden of foreign currency for economic organizations and social organizations.
- Negative impact: May affect the State Bank of Vietnam’s management of foreign exchange.
❓ Câu hỏi thường gặp
Who does this decision apply to?
This decision applies to residents who are Vietnamese economic organizations, foreign-invested enterprises, foreign parties participating in business cooperation contracts, branches of foreign companies, foreign contractors, joint venture contractors with foreign partners, resident entities which are state agencies, armed forces units, political organizations, political-social organizations, social organizations, occupational associations, social funds, charitable funds of Vietnam.
What is the mandatory ratio for selling foreign currency?
According to this decision, the mandatory ratio for selling foreign currency from non-resident receipts for residents who are economic organizations and social organizations is 0%.
When does this decision take effect?
This decision takes effect fifteen days after its publication in the Official Gazette.
Who is responsible for guiding the implementation of this decision?
The Governor of the State Bank of Vietnam is responsible for guiding the implementation of this Decision.
What should organizations do according to this decision?
According to this decision, organizations are not required to sell foreign currency from non-resident receipts according to any mandatory ratio.
Toàn văn
Pursuant to …;
On the mandatory ratio for selling foreign currency from non-trade revenue of residents who are
cư trú là economic organizations, social organizations
____________________
PRIME MINISTER
Pursuant to the Government Organization Law dated December 25, 2001;
Pursuant to Decree No. 05/2001/NĐ-CP dated January 17, 2001 of the Government amending and supplementing certain articles of Decree No. 63/1998/NĐ-CP dated August 17, 1998 of the Government on foreign exchange management;
At the proposal of the Governor of the State Bank of Vietnam.
DECISION:
Article 1. The mandatory ratio for selling foreign currency from non-trade revenue for Residents who are Vietnamese economic organizations, foreign-invested enterprises, and foreign parties participating in business cooperation contracts, foreign company branches, foreign contractors, joint venture contractors with foreign entities, residents who are state agencies, military units, political organizations, political-social organizations, social organizations, occupational social organizations, Vietnamese social funds, and charitable funds is 0% starting from the date when the foreign currency is transferred or deposited into the foreign currency account opened at a permitted bank.
Article 2.
1. This Decision replaces previous Decisions of the Prime Minister regarding the obligation to sell and the right to buy foreign currency for residents who are organizations; and shall take effect fifteen days after its publication in the Official Gazette.
2. The Governor of the State Bank of Vietnam is responsible for guiding the implementation of this Decision.
Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairpersons of People's Committees of provinces and centrally governed cities are responsible for implementing this Decision.
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