Data closing period of debt trading service enterprises in Vietnam shall be spectified

Data closing period of debt trading service enterprises in Vietnam shall be spectified (Illustrative image)

Article 3 of Circular 84/2020/TT-BTC supplements Clause 4 Article 8 of Circular 53/2017/TT-BTC dated May 19, 2017 by the Ministry of Finance guiding the implementation of Decree 69/2016/ND-CP dated July 1, 2016 by the Government of Vietnam on requirements for debt trading services, specifically as follows:

- Within 30 days from the end of the fiscal year and in urgent cases, debt trading service enterprises are responsible for reporting to the People's Committees of provinces or centrally run cities where the enterprise's head office is located on the fulfillment of conditions for debt trading services, business situation, and compliance with legal regulations by the enterprise according to the regulations of the People's Committees of provinces or centrally run cities.

- Periodically quarterly and in urgent cases, the business registration agency is responsible for reporting to the People's Committees of provinces or centrally run cities on the issuance and supplementation of the Certificate of Business Registration for debt trading service activities.

- Within 60 days from the end of the fiscal year and in urgent cases, the People's Committees of provinces or centrally run cities shall send reports on the business situation and compliance with legal regulations of enterprises operating in debt trading services in the province or city to the Ministry of Finance.

- Time for closing data and reporting methods:

+ Time for closing data for quarterly and annual reports: Calculated from the starting time for data collection to the end of data collection period (except for data reflecting specific points in time). The starting time for data collection is the first day of the reporting quarter or year (for cumulative data, it is the first day of the reporting year); the end time for data collection is the last day of the reporting quarter or year.

+ Report submission methods are implemented via one of the following methods:

-  Submit  directly  in  hard  copy;-  Submit  by  postal  service  in  hard  copy;-  Submit  via  email  or  specialized  information  reporting  software  system;-  Other  methods  as  stipulated  by  law.

+ The contents, time for closing data, and deadlines for submitting urgent reports are implemented upon the request of state management agencies.

For more details, see the regulations in Circular 84/2020/TT-BTC, effective from November 15, 2020.

Le Vy

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