MONTHLY LEGAL UPDATE – 12/2020: LEGAL UPDATE RELATING TO FINANCE AND CREDIT
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
v 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”)v Effective date: 05/12/2020.The content 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.”
v 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”)
v Effective date: 01/01/2021.
Some contents should be noted:
·
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
...
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.
5. 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.””
·
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
...
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.””
v 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”).
v 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:
1. Paper money, metal money issued by the State Bank;
2. Foreign exchange and gold trading;
3. Banking activities, including activities of: granting credit,
receiving deposits and providing payment services via accounts;
4. Deposit insurance;
5. Other activities related to currency and banking under the State
management function of the State Bank according to the provisions of law. ”
3.
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:
IV.
International payment service charge:
|
No. |
Types |
Collector |
Payer |
Rate |
|
1 |
Outward remittance fee |
|||
|
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) |
|
1.2 |
Payment tin European’s common currency (EUR) |
0.15% of outward
remittances 2 EUR/item at minimum; 200 EUR/item at maximum) |
||
|
2 |
Inward remittance fee |
|||
|
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) |
|
2.2 |
Payment tin European’s common currency (EUR) |
0.05% of inward remittances
(1 EUR/item at minimum; 100 EUR/item
at maximum) |
||
”
