Regulations on Documentation to Prove Financial Capability for Casino Entry

On October 5, the Ministry of Finance issued Circular 102/2017/TT-BTC providing guidance on certain provisions stipulated in Decree 03/2017/ND-CP dated January 16, 2017, of the Government of Vietnam regarding casino business. The Circular comes into effect from December 1, 2017.

The Circular clearly stipulates the documentation required to prove that Vietnamese citizens have sufficient financial capacity to participate in gambling at a casino business location. Specifically:

Firstly, documents proving taxable income from level 3 or higher as stipulated by the Personal Income Tax Law: A certified copy of the personal income tax declaration that has been settled by the tax authority or a confirmation from the tax authority of the tax obligations demonstrating that the player has taxable income from level 3 or higher as stipulated by the Personal Income Tax Law within 1 year prior to entering the casino.

Secondly, documents proving that Vietnamese citizens have regular income of 10 million VND/month or higher, including:

A certified copy of the monthly income confirmation, monthly salary sheet, or salary payment decision from the agency where the player is working, confirming within the last 3 months from the date of entry into the casino, showing a monthly income of 10 million VND or higher.

A certified copy of the house lease contract, property lease contract of the player remaining valid as per the law, showing total rental income of 10 million VND per month or higher.

A certified copy of the bank savings book, bank account statement of the player with a term of 1 year or more, generating monthly interest of 10 million VND or higher.

Other documents proving that the player has a regular income of 10 million VND/month or higher.

If the above-mentioned documents do not prove that the player's income meets the 10 million VND/month threshold, the player can simultaneously present multiple documents to prove a total regular income of 10 million VND/month or higher.

Thirdly, the player is responsible before the law for the accuracy and truthfulness of the certified documents mentioned in the two above sections when presenting them to the casino business enterprise to enter the casino.

Fourthly, the casino business enterprise allowed to pilot Vietnamese entries into the casino is responsible for retaining the documents as stipulated above for a minimum period of 5 years from the date of allowing Vietnamese entry into the casino to serve the management, supervision, inspection, and examination by state management agencies.

Source: Viet Nam Moi

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