Bản dịch văn bản 05/2000/TT-NHNN1
Circular 05/2000/TT-NHNN1
Cơ quan ban hành: Ngân hàng Nhà nước Việt Nam
Ngày ban hành: 2000-03-28

THE STATE BANK OF VIETNAM THE STATE BANK OF VIETNAM CIRCULAR No. 05/2000/TT-NHNN1 OF MARCH 28, 2000 GUIDING THE IMPLEMENTATION OF A NUMBER OF PROVISIONS ON THE FORMATION OF VIETNAM�S INTERNATIONAL PAYMENT BALANCE UNDER THE GOVERNMENT�S DECREE No. 164/1999/ND-CP OF NOVEMBER 16, 1999 In furtherance of the Government�s Decree No.164/1999/ND-CP of November 16, 1999 on the management of Vietnam�s international payment balance, the State Bank of Vietnam hereby guides the implementation of a number of provisions on the formation of international payment balance as follows: Chapter I GENERAL PROVISIONS 1. This Circular shall apply to the formation of Vietnam�s international payment balance on the basis of systematically synthesizing all economic transactions between residents and non-residents in a given period. 2. The economic transactions between residents and non-residents include the following: a/ Goods transactions, which are the transactions on goods import and export, reflected in the revenues from and expenses for goods import and export activities between residents and non-residents; b/ Service transactions, which mean the revenues from and expenses for transportation, tourist, postal, telecommunications, insurance, aviation, banking, information and construction services as well as other services between residents and non-residents; c/ Transactions on laborers� income, which mean wages, bonuses and other incomes in cash or in kind paid by non-residents to residents and vice versa; d/ Transactions on incomes from investment, which mean revenues from direct investment profits, yields from investment in valuable papers and interests on due loans paid by residents to non-residents and vice versa; e/ Transactions on one-way current transfers, which mean non-refundable aids, donations, gifts and other transfers in cash or in kind for consumption purpose, from non-residents to residents and vice versa; f/ Transactions on one-way capital transfers, which mean non-refundable aids for investment purpose, forgiven debt amounts between residents and non-residents; properties in cash or in kind brought abroad by migrant residents and those brought into Vietnam by immigrant non-residents; g/ Transactions on direct investment, which mean foreign investors bring into Vietnam capital in cash or any type of property for investment activities under the Law on Foreign Investment in Vietnam or Vietnamese investors make overseas investment in cash or any type of property for investment activities under Vietnamese and foreign laws on investment; h/ Transactions on investment in valuable papers, which mean the purchase and sale of valuable papers between residents and non-residents; i/ Transactions on foreign loans and repayment of foreign debts, which mean residents borrow money from, and perform the debt-repayment obligation towards non-residents; j/ Transactions on overseas loan provision and debt recovery, which mean residents provide loans to, and recover debts from non-residents; l/ Other investment transactions and other transactions increasing or reducing the assets or liabilities, which mean the transactions between residents and non-residents regarding cash, deposits as well as the collectible and payable amounts. 3. Residents are organizations or individuals, including: a/ State enterprises, private enterprises, companies, cooperatives and other economic organizations of all economic sectors of Vietnam, which are established and conducting business activities in Vietnam (hereinafter referred to as Vietnamese economic organizations); b/ Foreign-invested enterprises and foreign parties to business cooperation contracts operating under the Law on Foreign Investment in Vietnam; branches of foreign companies, foreign contractors, contractors in partnerships with foreign parties and other economic organizations with foreign capital, which conduct business activities in Vietnam not under the Law on Foreign Investment in Vietnam; c/ Vietnamese credit institutions, joint-venture credit institutions, non-bank credit institutions with 100% foreign capital and branches of foreign banks conducting business activities in Vietnam (hereinafter referred to as credit institutions in Vietnam); d/ Vietnamese State agencies, armed forces units, political organizations, socio-political organizations, social organizations, socio-professional organizations, social funds and charity funds operating in Vietnam; e/ Vietnamese diplomatic missions, consulates, armed forces units and political organizations, socio-political organizations, social organizations, socio-professional organizations, social funds and charity funds operating overseas; Vietnamese citizens working in such organizations and their dependents; f/ Representative offices of Vietnamese economic organizations, representative offices of foreign-invested enterprises in Vietnam and representative offices of Vietnam-based credit institutions which operate overseas; g/ Vietnamese citizens residing in Vietnam, Vietnamese citizens residing overseas for less than 12 months; h/ Foreigners residing in Vietnam for 12 months or more; i/ Vietnamese citizens going abroad for tourism, study, medical treatment or visits (regardless of duration). 4. Non-residents are organizations or individuals, including: a/ Foreign economic organizations, which are established and conducting business activities in foreign countries; b/ Vietnamese economic organizations and foreign-invested enterprises in Vietnam, which are conducting business activities overseas; c/ Vietnamese credit institutions and foreign credit institutions in Vietnam, which are established and conducting business activities overseas; d/ Foreign State agencies, armed forces units, political organizations, socio-political organizations, social organizations, socio-professional organizations, social funds and charity funds operating overseas; e/ Foreign diplomatic missions, consulates, representative offices of international organizations, representative offices of inter-governmental organizations, representative offices of non-governmental organizations, armed forces units and political organizations, socio-political organizations, social organizations, socio-professional organizations, social funds and charity funds operating in Vietnam; foreigners working in such organizations and their dependents; f/ Representative offices of foreign economic organizations; representative offices of foreign credit institutions operating in Vietnam; g/ Foreigners residing overseas; foreigners residing in Vietnam for less than 12 months; h/ Vietnamese citizens residing overseas for 12 months or more; i/ Foreigners coming to Vietnam for tourism, study, medical treatment and visits (regardless of duration). Where organizations or individuals cannot be identified as residents or non-residents, the State Bank Governor shall decide. Chapter II FORMATION OF PAYMENT BALANCE Section I: PRINCIPLES FOR FORMING PAYMENT BALANCE 1. The payment balance shall be formed on the basis of indexes that reflect all economic transactions between residents and non-residents. The information on economic transactions between organizations and individuals being residents and organizations and individuals being non- residents shall be gathered on the basis of periodical reporting tables or sampling surveys organized by the State Bank in coordination with the General Department of Statistics and the concerned ministries and branches. 2. The payment balance shall be formed in US dollar (USD). 3. The economic transactions between residents and non-residents shall be listed by the time they are accounted in accounting books. For goods inventoried by the General Department of Customs, the current regulations of the General Department of Statistics shall apply. 4. The economic transactions shall be effected at the actual prices already agreed upon between residents and non-residents. 5. The value of economic transactions arising in Vietnam dong shall be converted into US dollar at the exchange rates currently guided by the Finance Ministry for the conversion of foreign currencies into Vietnam dong in cost-accounting and book-keeping by enterprises. The value of economic transactions arising in foreign currencies other than US dollar shall be converted into Vietnam dong, then into USD at the exchange rates currently guided by the Finance Ministry for the conversion of foreign currencies into Vietnam dong in cost-accounting and book-keeping by enterprises. Section II: RESPONSIBILITIES OF THE MINISTRIES AND BRANCHES IN THE FORMATION OF PAYMENT BALANCE The ministries and branches stipulated in this Circular shall have the responsibility to supply information and data to the State Bank according to the following indexes: 1. The Ministry of Planning and Investment: To inform data according to the set table. 2. The Finance Ministry: To inform data according to the set table. 3. The Ministry of Trade: a/ To inform data on import-export management mechanism, lists of the quota-regulated goods and goods banned from import, plans on quota allocation, adjustment and addition. b/ To inform data on goods and services import-export plan according to the set table. 4. The General Department of Statistics: a/ To inform data on import and export, including the actual data of the reporting period and data readjusted for the preceding period. b/ To inform periodical estimated GDP data classified according to the economic branches as well as their sources and use. c/ To inform data on domestic savings and investment. 5. The General Department of Customs: To inform data on import and export of goods, gold and foreign currencies according to the current regulations of the General Department of Statistics. 6. The Ministry of Public Security: To inform data according to the set table. 7. The Ministry for Foreign Affairs: To inform data according to the set table. 8. The State Securities Commission: To inform data according to the set table. 9. The Ministry of Communications and Transport: To inform data according to the set table. 10. Vietnam Civil Aviation Administration: To inform data according to the set table. 11. The Ministry of Culture and Information: To inform data according to the set table. 12. The Ministry of Construction: To inform data according to the set table. 13. The Ministry of Education and Training: To inform data according to the set table. 14. The Ministry of Science, Technology and Environment: To inform data according to the set table. 15. The Ministry of Labor, War Invalids and Social Affairs: To inform data according to the set table. 16. The Post and Telecommunications Corporation: To inform data according to the set table. 17. The Ministry of Health: To inform data according to the set table. 18. The Ministry of Industry: To inform data according to the set table. 19. The other ministries and branches such as the Ministry of Agriculture and Rural Development, the Ministry of Aquatic Resources, the Ministry of Defense, the General Department of Tourism, the General Department of Physical Training and Sport... shall have to coordinate with the State Bank of Vietnam in making reports, when necessary, on economic transactions between residents and non-residents. 20. Credit institutions shall make reports according to the State Bank�s current regulations on accounting reporting and information regime and banking statistics. Section III: SITUATION, DATA REPORTING AND INFORMING TIME-LIMITS 1. Time-limits for the ministries and branches stipulated in Section II, Chapter II of this Circular to inform situation and data to the State Bank: a/ On the 15 th of the last month of each quarter, to supply forecast information and data for the subsequent quarter; on September 10 every year, to supply forecast information and data for the subsequent year; b/ On the 20 th of the first month of each quarter, to supply actual information and data of the preceding quarter; on January 31 st every year, to supply actual information and data of the preceding year; 2. Time-limits for the State Bank to report on the payment balance to the Government: a/ On the 25 th of the last month of each quarter, to report on the forecast payment balance of the subsequent quarter; on September 25 every year, to report on the forecast payment balance of the subsequent year; b/ On the last working day of the first month of each quarter, to report on the situation of implementation of the actual payment balance of the preceding quarter; on February 10 th every year, to report the actual payment balance of the preceding year. Chapter III IMPLEMENTATION PROVISIONS 1. This Circular takes effect 15 days after its signing. 2. All violations of the contents, regime, information and reporting time-limits stipulated in this Circular shall be administratively sanctioned according to law provisions. 3. The director of the Office, the chief inspector and the heads of the units of the State Bank, the directors of the State Bank�s branches in the provinces and centrally-run cities and the general directors (directors) of credit institutions shall, within the ambit of their respective functions, have to organize, guide, inspect the implementation of, and implement, this Circular. For the State Bank Governor Deputy Governor DUONG THU HUONG