1. LEGAL DOCUMENTS ARE EFFECTIVE FROM 01/12/2020
1.1. Decree No. 126/2020/ND-CP detailing a number of articles of the Law on tax administration
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Name of legal document: Decree No. 126/2020/ND-CP issued on 19/10/2020 by the Government detailing a number of articles of the Law on tax administration (referred to as the “Decree No. 126/2020/ND-CP”).
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Effective date: 05/12/2020.
Some contents should be noted: Stipulates the responsibility of the commercial banks to provide taxpayer payment account information.
Specifically, clause 2 Article 30 of Decree No. 126/2020/ND-CP stipulates: “Article 30. Duties and powers of a commercial bank, organization providing payment intermediary services
2. Commercial banks shall provide information on taxpayers’ payment accounts opened at banks to tax administration agencies as follows:
a) At the request of the tax authority, the commercial banks shall provide information about each taxpayer’s payment account, including: name of account holder, account number according to Tax Identification Number issued by the tax authorities, account opening date, account closing date.
b) The provision of account information under Point a of this Clause shall be performed for the first time within 90 days from the effective date of this Decree. Account information is updated monthly for 10 days of the next month. The method of providing information is in the electronic form.
c) Commercial banks provide transaction information via accounts, account balances, transaction data at the request of the Head of tax authorities to serve the purpose of inspection, examination and definition determination the tax liability to be paid and taking coercive measures to enforce administrative decisions on tax administration according to the provisions of tax law.
d) Tax authority is responsible for keeping information confidential and responsible for the safety of information in accordance with the Law on Tax Administration and relevant laws.”
1.2. Circular No. 10/2020/TT-NHNN amendment and addition to a number of articles of the Circular No. 28/2015/TT-NHNN dated December 18, 2015 of the Governor of the State Bank of Vietnam regulating the management and use of digital signature, digital certificate and authentication service of digital signature of the State Bank
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Name of legal document: Circular No. 10/2020/TT-NHNN issued on 02/11/2020 by the State Bank of amendment and addition to a number of articles of the Circular No. 28/2015/TT-NHNN dated December 18, 2015 of the Governor of the State Bank of Vietnam regulating the management and use of digital signature, digital certificate and authentication service of digital signature of the State Bank (referred to as the “Circular No. 10/2020TT-NHNN”).
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Effective date: 01/01/2021.
Some contents should be noted:
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Firstly, amending and supplementing regulations on granting digital certificates.
Specifically, Clause 6 Article 1 Circular No. 10/2020TT-NHNN stipulates: “Article 1. Amending and supplementing a number of articles of Circular 28/2015/TT-NHNN
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6. Article 5 (Circular No. 28/2015/TT-NHNN) is amended and supplemented as follows:
“Article 5. Grant digital certificates
1. When in need of granted digital certificate or supplement profession of digital certificate, the subscriber-managing organization shall send 01 (one) set of dossier, including:
a) To grant digital certificate and supplement profession of digital certificate to individuals who are competent:
– An application form for granting digital certificate or supplementation profession of digital certificate according to Appendix 01 enclosed herewith (Circular No. 28/2015/TT-NHNN);
– An application form for granting digital certificate or supplementation profession of digital certificate for individuals according to Appendix 02 (Circular No. 28/2015/TT-NHNN) enclosed herewith;
– Documents proving the legal representative status of a competent person of an agency or organization as follows:
+ Enterprise registration certificate or certificate of cooperative registration or documents of equivalent value for enterprises, credit institutions, foreign bank branches;
+ Appointment decision of the person applying for granting digital certificate and supplementing profession of digital certificate (for state agencies).
b) To grant digital certificate and supplement profession of digital certificate to individuals who are authorized by a person:
– An application form for granting digital certificate or supplementation profession of digital certificate according to Appendix 01 enclosed herewith (Circular No. 28/2015/TT-NHNN);
– An application form for granting digital certificate or supplementation profession of digital certificate for individuals according to Appendix 02 enclosed herewith (Circular No. 28/2015/TT-NHNN);
– Authorization document of the authorized person allowing the authorized person to represent the organization to sign and approve documents, documents, reports, transactions on the information system corresponding to the profession of the digital certificate applied for granting. Authorized person is not allowed to authorize another person to perform;
– Document certifying the title of the person applying for granting profession of digital and supplementing profession of digital certificate.
c) To grant digital certificate and supplement profession of digital certificate to organizations:
– An application form for the granting digital certificate or supplementation of digital certificate to the organization according to Appendix 02a issued with this Circular (Circular No. 28/2015/TT-NHNN);
– Establishment decision or decision specifying functions, duties, powers, organizational structure or certificate of business registration or certificate of registration of the cooperative or papers of equivalent value.
2. In case a digital certificate has been granted and is still valid and is requested by the subscriber-managing organization to supplement the digital certificate profession, the Information Technology Department shall supplement the profession to the existing subscriber’s digital certificate.
3. Time limit for settlement and implementation results
Within 05 working days from the day on which the application for digital certificate is received, the Department of Information Technology shall inspect the application, issue digital certificates or supplement digital certificate profession to subscribers, send digital certificate granting notice and digital certificate activation code to the email address and text message to subscribers’ mobile phone number. For digital certificates for organizations, the Information Technology Department shall send notices of digital certificate granting and digital certificate activation code to the email address and text message to the mobile phone number of the focal officer in charge about digital certificate of the subscriber management organization according to the provisions of Clause 1, Article 14 of this Circular (Circular No. 28/2015/TT-NHNN).
In case the dossier is invalid, the Information Technology Department shall refuse to process the dossier and state the reason. Feedback and dossier processing results comply with Clause 3 Article 4a of this Circular (Circular No. 28/2015/TT-NHNN).
4. The digital certificate activation code is valid for up to 30 days from the date the digital certificate is issued. For newly issued digital certificates, subscribers must activate their digital certificates before the expiration of the activation code. Guidance documents on activation and renewal of digital certificates of the State Bank are posted on the State Bank’s web portal. For digital certificates with additional profession added, subscribers are not required to activate digital certificates.
4. The validity period of a subscriber’s digital certificate is proposed by the subscriber-management organization but must not exceed 05 years from the date of activation of the digital certificate.””
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Secondly, amending and supplementing regulations on extension and change of information about digital certificates.
Specifically, Clause 7 Article 1 of Circular No. 10/2020/TT-NHNN stipulates: ““Article 1. Amending and supplementing a number of articles of Circular 28/2015/TT-NHNN
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7. Article 6 (Circular No. 28/2015 / TT-NHNN) is amended and supplemented as follows:
“Article 6. Renewal and change of digital certificate information content
1. Digital certificates requested for information renewal or change must be valid.
2. Effective period of digital certificates:
a) Digital certificates, after being renewed, will be valid from the time of successful renewal but not exceeding 5 years;
b) Changing the contents of information of a digital certificate does not change the validity period of a digital certificate.
3. In case of extension or change of information of digital certificates:
a) The subscriber-management organization requests the extension of the subscriber’s digital certificate at least 10 days before the expiration of the digital certificate’s validity;
b) The subscriber-management organization requests to change the content of information about the subscriber’s digital certificate within 05 working days from the date of the following changes:
– Subscriber changes title, position or working department;
– Subscriber changes information of Identity Card/Citizen’s Identity;
– Subscriber changes address information, email, phone.
4. The subscriber-management organization sends 01 (one) set of dossier to request the renewal or change of digital certificate information, including the request for renewal or change of digital certificate information content according to Appendix 03. issued together with this Circular (Circular No. 28/2015/TT-NHNN).
5. Time limit for settlement and implementation results
Within 05 working days from the date of receipt of the dossier for the extension or change of digital certificate content, the Information Technology Department shall inspect the dossier, renew or change the content of digital certificate for subscription. In case the dossier is invalid, the Information Technology Department shall refuse to process the dossier and state the reason. Feedback and dossier processing results comply with Clause 3 Article 4a of this Circular (Circular No. 28/2015/TT-NHNN).
Receive the notice of approval for digital certificate extension, subscriber shall renew digital certificate according to the instruction manual on activation and renewal of digital certificate posted on the Portal of the State Bank.””
1.3. Circular No. 14/2020/TT-NHNN regulations on jurisdiction in monetary and banking sector
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Name of legal document: Circular No. 14/2020/TT-NHNN issued on 16/11/2020 by the State Bank regulations on jurisdiction in monetary and banking sector (referred to as the “Circular No. 14/2020TT-NHNN”).
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Effective date: 01/01/2021.
The content should be noted: Providing on the scope of judicial expertise in the monetary and banking sector.
Specifically, Article 3 of Circular No. 14/2020/TT-NHNN stipulates: “Article 3. Scope of judicial assessment in the monetary and banking sector
Judicial assessment in the monetary and banking sector includes judicial assessment on:
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Paper money, metal money issued by the State Bank;
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Foreign exchange and gold trading;
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Banking activities, including activities of: granting credit, receiving deposits and providing payment services via accounts;
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Deposit insurance;
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Other activities related to currency and banking under the State management function of the State Bank according to the provisions of law. ”
1.4. Circular No. 15/2020/TT-NHNN amendment and supplement a number of articles of Circular No. 26/2013/TT-NHNN issued on December 5, 2013 of the State bank of Vietnam promulgating the tariff of charges for payment services offered via the State bank of Vietnam
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Name of legal document: Circular No. 15/2020/TT-NHNN issued on 20/11/2020 by the Governor of the State Bank amendment and supplement a number of articles of Circular No. 26/2013/TT-NHNN issued on December 5, 2013 of the State bank of Vietnam promulgating the tariff of charges for payment services offered via the State bank of Vietnam (referred to as the “Circular No. 15/2020/TT-NHNN).
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Effective date: 01/02/2021.
The content should be noted: Amending and supplementing regulations on International payment service charge.
Specifically, Clause 3 of Article 1 Circular No. 15/2020/TT-NHNN stipulates: “Article 1.
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Part IV “International payment service charge” in the Tariff of charges for payment services offered via the State bank of Vietnam issued together with Circular No. 26/2013/TT-NHNN is amended and supplemented as follows:
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International payment service charge:
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No. |
Types |
Collector |
Payer |
Rate |
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1 |
Outward remittance fee |
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1.1 |
Payment in US Dollar (USD) |
Transaction centers and branches of the State Bank located in centrally-affiliated cities and provinces that serve their clients with remittance or payment services |
Credit institutions, foreign bank branches transfer (pay) money |
0.15% of outward remittances ($2/item at minimum; $200/item at maximum) |
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1.2 |
Payment tin European’s common currency (EUR) |
0.15% of outward remittances 2 EUR/item at minimum; 200 EUR/item at maximum) |
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2 |
Inward remittance fee |
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2.1 |
Payment in US Dollar (USD) |
Transaction centers and branches of the State Bank located in centrally-affiliated cities and provinces that serve their clients with monetary acceptance services |
Credit institutions, foreign bank branches to receive inward remittance |
0.05% of inward remittances ($1/item at minimum; $100/item at maximum) |
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2.2 |
Payment tin European’s common currency (EUR) |
0.05% of inward remittances (1 EUR/item at minimum; 100 EUR/item at maximum) |
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