1. Decreases in state capital in state-owned enterprises
This is a content of Circular No.59/2018/TT-BTC which amends Circular No.219/2015/TT-BTC on investment of state capital in enterprises and management and use of capital and assets in enterprises.
According to the Circular, operating state-enterprises shall make a reduction in their state capital in the following cases:
- The representative agency which exercise rights and obligations of the state capital owner on behalf of the state in the enterprise shall determine the reduction in the amount of charter capital and send reports to the Prime Minister for settling the amount of charter capital being reduced according to real conditions of such enterprise and demand for reducing operational scale;
- The state capital in the enterprise is restructured in the form of partial division as prescribed in Point d Clause 2 Article 19 of Decree No.91/2015/ND-CP dated October 13, 2015;
- Adjusted charter capital of state enterprises shall remain unchanged for at least 3 years from the day on which the decision on charter capital approval is issued.
Circular No.59/2018/TT-BTC comes into force from September 01, 2018.
2. National interbank e-payment system
Circular No.37/2016/TT-NHNN on management, operation and use of national interbank e-payment system comes into force from September 01, 2018.
According to the Circular:
- A prior authorization contract is required for debt repayment among participants other than units of the State Bank.
- A prior authorization contract is required for debt repayment by participants that are units of the State Bank to those other than units of the State Bank.
- A debt between participants in the prior authorization contract or repayment written agreement must contain the following elements:
+ Intraday limit on debt repayment between participants;
+ Limit on an unverified debt repayment order;
+ Effective period of the contract or written agreement
Details of the system for form of national interbank e-payment can be found in Appendix issued together with Circular No.37.
3. Extraction of information from national database of public property
This is a content of Circular No.67/2018/TT-BTC which provides guidelines for management, operation, exchange and extraction of information stored on the national database of public property.
According to the Circular, the power to extract and use information stored on the national database of public property shall be specified as follows:
- The Ministry of Finance is entitled to extract information on public property from the national database;
- Ministries, central government authorities and People's Committees of provinces are entitled to extract information on public property from agencies or organizations under management in the national database;
- Agencies and organizations whose assets are declared in the national database are entitled to extract information on public property from agencies and organizations or affiliated entities (if any) in such national database.
Standard information stored on the national database can be found in the Appendix issued together with Circular No. 67/2018/TT-BTC which comes into force from September 01, 2018.
4. Procedures for publishing conditions for business investment applied to foreign investors
Circular No.19/2018/TT-BCT provides for formulation and promulgation of legislative document of the Ministry of Industry and Trade comes into force from July 19, 2018.
According to the Circular:
- Conditions for business and investment applied to foreign investors to be disclosed shall be sent to the Ministry of Planning and Investment within 5 working days (previously 5 days) from the day on which the legislative document is promulgated.
- Directors of ministerial-affiliated entities shall submit the consolidated document to Ministers for verification within:
+ 5 working days from the day on which the amended or adjusted document from the Government's Office is received in respect of legislative document of the Government of Prime Minister;
+ 5 working days from the day on which it is signed for promulgation in respect of Circular or Joint Circular; the entity presiding over the document preparation shall complete the consolidated document and sent it to the Minister for verification and signing purpose.
Circular No.19/2018/TT-BTC comes into force from September 03, 2018.
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