Ngọc Duy
From October 11 - 20, 2017, new policies on trade, finance, banking, etc. will come into force with the following notable contents:
1. Guidance on receipt of reward in foreign currency for foreign players at casinos
This is the notable content of the Circular No. 10/2017/TT-NHNN on guidelines for foreign exchange management of casino business that will come into force from October 15, 2017.
According to this Circular, a foreign player participating in gambling activities with prizes at casinos shall receive and use the cash prize in foreign currency as follows:
- In case of receiving the prize in cash:
+ Have the rights to sell foreign currency to a licensed bank or foreign currency exchange agent of a credit institution authorized to use VND;
+ Transfer foreign currency abroad through the bank;
+ Be granted a certificate to take foreign currency abroad;
+ Deposit into the foreign currency account opened at the bank.
- In case of receiving the prize by bank transfer, the amount of foreign currency to be paid shall be transferred from the foreign currency account of the enterprise to the payment account in foreign currency of the player opened at the bank or account opened in a foreign country.
2. Procedures for online registration of security interests
This content is specified in the Decree No. 102/2017/ND-CP on registration of security interests that will be effective from October 15, 2017.
According to this Decree, online registration of security interests shall be carried out in the following procedures:
- The applicant shall use user code for the security interest database and online account assessing to the online registration system for making declaration;
- The online registration system shall verify if the security interest registration is successful on the online registration interface;
- The receiving authority shall return a certificate of security interest registration bearing its certification either in person, by post or any other agreement to the applicant.
3. Additional regulations on cash transfer in the banking industry
The Circular No. 12/2017/TT-NHNN on amendments to certain articles of the Circular No. 01/2014/TT-NHNN on transfer, storage and transport of cash, precious assets and valuable papers will come into force from October 16, 2017.
According to the Circular No. 12/2017/TT-NHNN two cases of cash transfer in sealed bags and boxes used in the banking industry shall be added as follows:
- Transfer of cash of a par value of VND 50,000 or under according to the transfer order among central vaults; between central vaults and the State Bank of Binh Dinh province and vice versa;
- Transfer of cash within central vaults; State Bank of Binh Dinh province.
4. Adjustments to documents on loan to create jobs for business establishments
From October 15, 2017, the Circular No. 24/2017/TT-BLDTBXH amending certain articles of the Circular No. 45/2015/TT-BLDTBXH on guidelines for implementation of certain articles of the national employment fund mentioned in the Decree No. 61/2015/ND-CP will officially come into force.
According to the Circular No. 24/2017/TT-BLDTBXH documents proving a business establishment using at least 30% of total employees who are disabled and ethnic minority people granted priority to borrow loans for creating jobs shall include:
- A copy of the ID card/passport/household registration book/temporary residence book if the employee is an ethnic minority person;
(Compared to the previous regulations, the new ones allow a copy of the household registration book/temporary residence book of the employee instead of a copy of ID card/passport).
- The list of disabled and ethnic minority employees;
- A copy of the disability certificate granted to the disabled employee by the People’s Committee of commune;
- A copy of the labor contract or decision on recruitment of the employee.
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