Circular No. 08/2017/TT-BTC: Vietnam’s regulation on use of deposits

11:49, 12/02/2017

Circular No. 08/2017/TT-BTC of the Ministry of Finance of Vietnam providing guidance on the management and use of environmental remediation deposits paid by mining organizations, issued on January 24, 2017. Notably, this Circular stipulates the use of environmental remediation deposits. To be specific:

1. The deposit receiver shall not use deposits for lending and purposes other than the provisions in this Circular.

2. Use of interest on deposits:

- Total amount of interest on deposits shall be recorded as operating revenue of the deposit receiver;

- Total amount of deposit interest payable to the deposit payer shall be aggregated with operating cost of the deposit receiver;

3. Return of deposits:

- Deposits shall be returned in accordance with provisions of Clause 5 Article 8 of Decree 19/2015/NĐ-CP of Vietnam’s Government and Article 15 of Circular No. 38/2015/TT-BTNMT or its superseding document or any amendments thereto (if any);

- The deposit payer shall send withdrawal plan of deposits to the deposit receiver three months before the date of return of deposits by deposit receivers as prescribed in Clause 5 Article 8 of Decree 19/2015/NĐ-CP or its superseding document or any amendments thereto (if any).

View more contents at Circular No. 08/2017/TT-BTC of the Ministry of Finance of Vietnam, effective from March 10, 2017.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

48 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn