Revenue of the Parent Company - Vietnam National Oil and Gas Group from Financial Activities: What are the Regulations?

According to Clause 2 Article 20 of the Financial Management Regulations of the Parent Company - Vietnam Oil and Gas Group issued together with Decree 36/2021/ND-CP, the revenue of the Parent Company is regulated as follows:

The revenue of the Parent Company includes revenue from production and business activities, financial activities, and other income generated by the Parent Company and its dependent accounting units.

In which, the revenue from financial activities includes:

- Royalties; interest from lending capital; interest from deposits; interest from deferred and installment sales;

- Exchange rate differences, including gains from selling foreign currencies;

- Gain on transfer of investment capital in subsidiaries, associate companies, and external investments of the Parent Company;

- Dividends and profits shared in cash from capital investment activities in subsidiaries, associate companies, and external investments of the Parent Company; including profits and dividends shared from the Parent Company's overseas investments but retained for reinvestment (in joint ventures' case) or post-tax profits (in non-foreign-partner participation case) for the purpose of reinvestment (direct capital contribution or project loans) or used for investment in other projects.

Regarding profits shared from overseas investments, the Parent Company shall declare and pay taxes in Vietnam according to the Corporate Income Tax Law;

- Oil and gas interest income and other amounts shared with the Vietnamese side from the Vietnam-Russia Joint Venture “Vietsovpetro”;

- Other income from the Vietnam-Russia Joint Venture “Vietsovpetro” and from oil and gas contracts as prescribed;

- Other income as prescribed.

Sincerely!