Time for declaration of assets and income under the Anti-Corruption Law in Vietnam

Time for declaration of assets and income under the Anti-Corruption Law in Vietnam (Internet image)

1. Individuals required to declare assets and income in Vietnam

The following assets and income shall be declared:

Group 1: Officials.

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

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

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

(Article 34 of the Anti-corruption Law 2018)

2. Time for declaration of assets and income under the Anti-Corruption Law in Vietnam

The time for declaration of assets and income is specified in Article 36 of the Anti-corruption Law 2018 as follows:

- First declaration shall be made by:

+ Persons holding the positions in group 1, 2, 3 for the first time. Declaration shall be done within 10 days from the date of designation or employment.

- 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 annually

- Annual declaration shall be made by:

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

+ Persons other than those mentioned in Point a of Clause 3 of Article 36 of the Anti-corruption Law 2018 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;

- Declaration serving official management shall be made by:

+ The individuals required to declare assets and income in group 1, 2, 3 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;

+ The individuals required to declare assets and income in group 4. Time of declaration shall comply with regulations of law on voting.

(Article 36 of the Anti-corruption Law 2018)

3. Assets and income subject to declaration in Vietnam

Assets and income subject to declaration include:

- Land use rights, houses, construction works and other property attached thereto;

- Previous metals, gemstones, cash, financial instruments and other real property each of which is assessed at VND 50.000.000 or above;

- Overseas property and accounts;

- Total income between 02 declarations.

(Article 35 of the Anti-corruption Law 2018)

4. Disclosure of assets and income declarations in Vietnam

- Assets and income declarations shall be disclosed at the declarants’ workplace.

- The declaration of a person who is expected to hold a managerial or executive position it a state organization shall be disclosed during the confidence voting.

- Declarations of nominees for the National Assembly delegates and the People’s Councils delegates shall be made publicly available in accordance with voting laws.

- Declarations of persons be voted for at the National Assembly and the People’s Councils shall be made available to delegates of the National Assembly and the People’s Councils before voting. Time and method of publishing of declarations shall be specified by Standing Committee of the National Assembly.

- The declaration of a person who is expected to hold a managerial or executive position it a state organization shall be disclosed during the confidence voting or meeting of the Board of members.

(Article 39 of the Anti-corruption Law 2018)

Diem My

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