Vietnam: What is the definition of declaration of assets and income? What is the time for declaring assets and income of cadres and civil servants according to regulations?

Main Content

• What is the definition of declaration of assets and income in Vietnam? Who is obliged to declare assets and income?
• What is the time for declaring assets and income in Vietnam?
• What does the asset and income declaration dossier in Vietnam include?

What is the definition of declaration of assets and income in Vietnam? Who is obliged to declare assets and income?

Pursuant to Decree 130/2020/ND-CP on controlling assets and income of persons holding titles and powers in agencies, organizations, and entities as follows:

In Clause 2 Article 3 of Decree 130/2020/ND-CP, there is a definition of "declaration of assets and income" as follows:

Declaration of assets and income refers to clear, adequate and accurate depiction of assets, income, fluctuation of assets, income to be declared, origin of additional assets, income using the form attached to this Decree.

Accordingly, declaration of assets and income refers to a clear, adequate, and accurate depiction of assets, income, fluctuation of assets, income to be declared, and origin of additional assets and income.

Regarding subjects obliged to declare assets and income, Article 34 of the Law on Anti-Corruption 2018 amended by Clause 3, Article 217 of the Enterprise Law 2020 stipulates as follows:

Individuals required to declare assets and income

1. Officials.

2. Commissioned officers of police and military forces, career military personnel.

3. Holders of positions of deputy managers and above in public service agencies, wholly state-owned enterprises, appointed representatives of state capital in enterprises.

4. Nominees for the National Assembly delegates and the People’s Councils delegates.

Thus, according to the above regulations, the above individuals are obliged to declare their assets and income, changes to assets and income of themselves, their spouses, and minor children according to regulations.

At the same time, the individuals required to declare assets and income also include those who declare annually in Article 10 of Decree 130/2020/ND-CP.

See more: What are the 120 entities required to annually declare their assets and income?

According to Clause 2, Article 33 of the Law on Anti-corruption 2018, individuals required to declare assets and income shall truthfully declare their assets and income, origins of additional assets and income following the procedures in this Law, and take responsibility for such declaration.

What is the time for declaring assets and income in Vietnam?

Pursuant to the provisions of Article 36 of the Law on Anti-corruption 2018 on the method and time for declaration of assets and income in Vietnam as follows:

Method and time for declaration of assets and income

1. First declaration shall be made by:

a) Holders of the positions mentioned in Clause 1, 2, 3 Article 34 of this Law while this Law is affective. Declaration must be done by December 31, 2019;

b) Persons holding the positions mentioned in Clause 1, 2, 3 Article 34 of this Law for the first time. Declaration shall be done within 10 days from the date of designation or employment.

2. Additional declaration shall be done when there is a change of at least VND 300.000.000 to his/her assets and income in the year. Declaration shall be done by December 31 of the year in which the change occurs, unless such change has been declared in accordance with Clause 3 of this Article.

3. Annual declaration shall be made by:

a) Holders of positions of directors of provincial departments and above. Declaration must be done annually by December 31;

b) Persons other than those mentioned in Point a of this Clause in charge of official management, management of public funds, public property or public investment, or have influence over the operation of other entities as prescribed by the Government. Declaration must be done annually by December 31;

4. Declaration serving official management Firs declaration shall be made by:

a) The individuals required to declare assets and income specified in Clause 1, 2, 3 Article 34 of this Law before they are elected, designated, re-designated or re-assigned. Declaration shall be done at least 10 days before the intended date of election, designation, re-designation or reassignment;

b) The individuals required to declare assets and income mentioned in Clause 4 Article 34 of this Law. Time of declaration shall comply with regulations of law on voting.

Thus, the time for declaring assets and income in Vietnam is:

What does the asset and income declaration dossier in Vietnam include?

Pursuant to Section 1, Part II, Procedures promulgated together with Decision 70/QD-TTCP in 2021, the asset and income declaration dossier in Vietnam includes:

- Documents directing the organization to implement the declaration;

- List of individuals required to declare according to regulations;

- Declaration of assets and income of individuals required to declare (02 copies);

- The monitoring register for the handover and receipt of the declaration.

Thus, the individuals required to declare assets and income will prepare the declaration dossier according to the above contents.