The Ministry of Finance of Vietnam requests compliance with legal regulations on the business of video games with prizes in Vietnam

The Ministry of Finance of Vietnam requests compliance with legal regulations on the business of video games with prizes in Vietnam (Image from the Internet)

On December 31, 2024, the Ministry of Finance of Vietnam issued Official Dispatch No. 14553/BTC-TCNH regarding compliance with legal regulations on the business of video games with prizes.

The Ministry of Finance of Vietnam requests compliance with legal regulations on the business of video games with prizes in Vietnam

To ensure compliance with the legal regulations on the business of video games with prizes for foreigners, the Ministry of Finance requests enterprises operating video games with prizes for foreigners to organize business activities according to the content licensed by competent state management agencies; fully comply with the legal regulations in the course of business activities. Specifically:

- Regularly review and issue or amend the Rules and Regulations; fully update the content of the Rules and Regulations to conform with current legal provisions and send them to state management agencies as prescribed.

- Arrange a camera surveillance system to monitor all activities in the casino business point (24/24 hours), ensuring that monitoring images are clear, stored continuously for at least 180 days from the recording date, and fully implement measures to control entry and exit at the business point, in accordance with Decree No. 121/2021/ND-CP.

- The purchase, management, and use of game machines and equipment at the business point must comply with the quantity, type of machines, and types of businesses allowed to operate; manage game machines, spare game machines in conformity with the law. Maintain a game machine management book according to standards and review all damaged game machines; if they cannot be repaired or restored to normal operation, the enterprise is requested to re-export or destroy them in line with Decree No. 121/2021/ND-CP.

- Review and issue currency exchange invoices for customers according to the form prescribed in Appendix No. 01 issued with Circular No. 39/2022/TT-BTC dated June 24, 2022, of the Ministry of Finance, guiding certain provisions of Decree No. 121/2021/ND-CP dated December 27, 2021, of the Government of Vietnam on the business of video games with prizes for foreigners.

- Appoint managers and operators for the business point according to the registered list in the application for the Certificate of Eligibility for Business or as informed to competent state management agencies, and meet the conditions as prescribed in Clause 1, Article 19 of Decree No. 121/2021/ND-CP. If the enterprise wishes to change the manager or operator of the business point, it must comply with the prescribed conditions and notify the competent state management agencies in writing.

- Implement financial reporting policies, business transaction reports of video games with prizes for foreigners, and publicly announce audited financial reports in accordance with the standards specified in Article 10 of Circular No. 39/2022/TT-BTC.

- Strictly organize the business activities of the enterprise as stipulated in Decree No. 121/2021/ND-CP and other related guiding documents.

- If the enterprise conducts video games with prizes for foreigners based on a business cooperation contract, it must be done in accordance with the powers and legal conformity. The enterprise that has been granted a Certificate of Eligibility for Business must be fully responsible before Vietnamese law for all business activities in the prize gaming sector.

- Strictly prohibit allowing individuals not permitted by law to enter the facilities operating video games with prizes for foreigners to participate in games.

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