Vietnam’s Decree No. 82/2012/NĐ-CP: Contents of inspection of the financial sector

According to Article 13 of Decree No. 82/2012/NĐ-CP of Vietnam’s Government, contents of inspection of the financial sector are specified as follows:

* Administrative inspection: The Inspectorate of the Ministry of Finance and Inspectorates of provincial-level Finance Departments shall inspect the observance of policies and laws and performance of assigned tasks of agencies, organizations and individuals specified in Clause 1, Article 2 of this Decree.

* Specialized inspection:

- The Inspectorate of the Ministry of Finance shall inspect the observance of laws in the sectors under the Ministry of Finance's state management.

- Inspectorates of provincial-level Finance Departments shall inspect the observance of laws in the sectors within the management scope of provincial-level Finance Departments.

- General Departments, the Insurance Management and Supervision Department, Departments under General Departments, and Tax Sub-Departments shall perform specialized inspection in the sectors within their management scope as assigned by competent authorities:

+ The General Department of Taxation, provincial-level Tax Departments and Tax Sub-Departments shall inspect the observance of regulations of law on taxes, charges and fees and other state budget revenues.

+ The General Department of Customs and provincial-level Customs Departments shall inspect the observance of regulations of law on customs and law on tax and other revenues for imports and exports.

+ The General Department of State Reserves and regional State Reserve Departments shall inspect the observance of regulations of law on national reserves.

+ The State Treasury and provincial-level State Treasuries shall inspect the observance of regulations of law on state budget spending amounts performed at the State Treasury and the observance of regulations of law of financial funds managed by the State Treasury.

+ The State Securities Commission shall inspect securities offering, listing, transactions, trading, business, investment and services and securities market, information disclosure and other activities relating to securities and securities market.

+ The Insurance Management and Supervision Department shall inspect the observance of regulations of law on insurance business.

View more details at Decree No. 82/2012/NĐ-CP of Vietnam’s Government, effective from November 25, 2012.

Le Vy

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