06 Principles of electronic transactions in the professional operations of the State Treasury

First, transaction units in Vietnam, information providers, and other organizations when conducting electronic transactions with the State Treasury must comply with the principles of clarity, fairness, honesty, safety, effectiveness ensuring the legal rights and interests of agencies, organizations, the state's interests, public interests, and be in accordance with the Law on Electronic Transactions. They must ensure the requirements for business processes and technical standards in electronic transactions as regulated by the Ministry of Finance and State Treasury (according to the decentralization).

Second, when conducting electronic transactions with the State Treasury , transaction units, information providers, and other organizations can choose suitable information technology and electronic means to execute. If the State Treasury simultaneously accepts transactions through the method of submitting paper documents at the State Treasury and transactions by electronic means, transaction units, information providers, and other organizations have the right to choose their method of transaction with the State Treasury.

Third, transaction units, information providers, and other organizations in Vietnam that have completed electronic transactions in State Treasury's professional activities as regulated in this Circular are not required to perform other transaction methods and are recognized as having completed the procedures in accordance with the regulations.

Fourth, electronic transaction between State Treasury and other financial sector agencies (finance agencies, Tax, Customs) are performed according to the current regulations of the Ministry of Finance; between State Treasury and the State Bank of Vietnam are performed according to the regulations of the State Bank of Vietnam, in line with the Law on the State Bank of Vietnam, the Law on Credit Institutions, the Law on Electronic Transactions, and guiding documents; between State Treasury and commercial banks are carried out following agreements between State Treasury and commercial banks on centralized bilateral electronic payment and coordinated state budget revenue collection, in line with the Law on Electronic Transactions and guiding documents.

Fifth, all code lists related to electronic transactions in State Treasury's professional activities are consistently used from the shared electronic code system in the financial sector as prescribed in Circular 18/2017/TT-BTC on the construction and exploitation, use of the shared electronic code system in the financial sector.

Sixth, the State Treasury proactively conducts partial or complete transactions through electronic means within the State Treasury, between the State Treasury and transaction units, information providers, and other organizations; is allowed to apply biometric technology and other authentication methods to electronic transactions in State Treasury's professional activities in accordance with legal regulations.

More details can be found in Circular 133/2017/TT-BTC which comes into force in Vietnam from February 01, 2018.

- Nguyen Trinh -

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