07 types of financial revenues of Vietnam oil and gas group

Nguyen Trinh

10:46, 31/03/2021

On March 29, 2021, the Government issued Decree 36/2021/ND-CP stipulating Regulations on financial management of the parent company - Vietnam oil and gas group.

According to the Decree, 07 types of financial revenues of Vietnam oil and gas group are regulated as follows:

- Revenues arising from royalties; interest from lending capital; deposits; sales interest on deferred payment or installment payment;

- Exchange rate gains, including gains from selling foreign currencies;

- The difference between the profits from the transfer of investment capital in subsidiaries, affiliated companies, and investments outside the parent company;

- Dividends and profits distributed in cash from capital investment activities in subsidiaries, affiliated companies, and investments outside the parent company, including:

+ Profits and dividends are distributed from the parent company's investment activities in foreign countries, but the distributed profits are left (in the case of joint ventures);

+ Profit after tax (if no capital contribution from foreign partners) for investment (direct capital contribution or on-lending to the project) or used to invest in other projects.

- Oil and gas profits and other amounts distributed to the Vietnamese party from the Vietnam-Russia joint venture "Vietsovpetro";

- Other revenues from the Vietnam-Russia joint venture "Vietsovpetro" and from petroleum contracts as prescribed;

- Other revenues as prescribed.

Vietnam's Decree 36/2021/ND-CP takes effect from May 15, 2021.

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