Regulations on Financial Reporting for Lottery Businesses

Regulations on Financial Reporting for Lottery Businesses
Le Hai

In addition to financial reports and statistical reports prepared and sent to state management agencies, and public financial disclosure in accordance with current legal regulations, on a quarterly basis and at the end of the year, lottery businesses must prepare and submit the following reports:

- Business Activity Report (Form No. 01/BCXS in the Appendix issued together with Decree 122).- Ticket Sales Report (Form No. 02/BCXS in the Appendix issued together with Decree 122).- Report on the Status of Debt Term Implementation and Payment Obligation Assurance of Lottery Agents (Form No. 03/BCXS in the Appendix issued together with Decree 122).- Report on the Status of Lottery Agent Commission Payment and Authorized Prize Payment by Lottery Agents (Form No. 04/BCXS in the Appendix issued together with Decree 122).- Report on the Management and Use of State Capital and Assets (Form No. 05/BCXS in the Appendix issued together with Decree 122).- Report on Actual Revenue Arising According to Each Province, City Where Computerized Lottery is Issued and the Situation of Allocation and Submission of Budget to Provinces Operating Self-Selected Computerized Lottery Business of Vietlott (Form No. 06/BCXS in the Appendix issued together with Decree 122).

The reports stipulated to Finance along with the time of sending financial reports and statistical reports as per current legal regulations.

In case the owner's representative agency and the Ministry of Finance require extraordinary reports, the lottery business enterprise must prepare and submit the reports as requested.

The Board of Members or the Chairman of the company is responsible for the accuracy and honesty of these reports.

Refer to Decree 122/2017/ND-CP, effective from January 1, 2018.

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