Vietnam: 04 criteria for selection of providers of T-VAN services

According to Circular No. 110/2015/TT-BTC of the Ministry of Finance of Vietnam, criteria for selection of IT organizations to sign T-VAN service contracts include:

1. The IT organization must:

- Be an enterprise operating in Vietnam, has Certificate of Enterprise registration or certificate of investment or license for investment in IT in Vietnam.

- Has experience of IT solutions and electronic data exchange solutions between organizations.

2. The IT organization must:

- Have sufficient financial capacity to establish a system of equipment, organize and maintain its operation which matches the scale of service provision.

- Have paid a deposit at a bank in Vietnam or obtain a guarantee of not lower than VND 5 billion by a bank in Vietnam, or have bought insurance against risks and possible compensations during provision of services and payment of cost of database maintenance during the provision of T-VAN services.

- Have business premises and locations for equipment placement which ensure safety.

3. Personnel

- There are at least 05 employees who have bachelor’s degrees in IT, practical experience of networking, security of electronic data exchange system, database management, and good knowledge about tax.

- There are technicians who work in turn 24 hours a day to maintain the electronic data exchange system and support users of T-VAN services.

4. Technology

- The system of technological equipment must satisfy the requirements specified in Point d Clause 1 Article 31 of this Circular.

- There are solutions to store result of transmissions between participants and electronic documents before transactions are successful; original electronic data must be stored on the system and can be accessed online.

- The log of every electronic transaction on the system is retained for at least 10 years from the time of transaction is successful. Such information can be accessed online during the retention period.

- There are plans and backup systems to maintain the safe and continuous operation, respond to unexpected situations, and overcome breakdowns.

- Data connection standards established by the General Department of Taxation are complied with.

More details can be found in Circular No. 110/2015/TT-BTC of the Ministry of Finance of Vietnam, which takes effect from September 10, 2015.

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