Vietnam: Rules for management and use of deposits

13:54, 23/02/2017

Circular No. 08/2017/TT-BTC of the Ministry of Finance of Vietnam providing guidance on the management and use of environmental remediation deposits paid by mining organizations, issued on January 24, 2017. Rules for management and use of deposits are as follows:

One, deposits shall be used and managed on the principles that the principal is reserved, deposit interest is paid in a timely manner and management cost incurred by the deposit receiver is covered.

Two, the process of management and use of deposits shall be carried out publicly, transparently and in compliance with the provisions in this Circular and other relevant legislative documents.

Concurrently, according to Circular No. 08/2017/TT-BTC of the Ministry of Finance of Vietnam, currencies and rates of deposits, methods of deposit payment, time of deposit payment, depositing documents and procedures are specified in Decree 19/2015/NĐ-CP of Vietnam’s Government and Circular No. 38/2015/TT-BTNMT or its superseding document or any amendments thereto (if any).

View more contents at Circular No. 08/2017/TT-BTC of the Ministry of Finance of Vietnam, effective from March 10, 2017.

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