Decision 11/2023/QD-TTg on high value transactions subject to reporting

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LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency
Effect status: Known

THE PRIME MINISTER

 

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

No. 11/2023/QD-TTg

 

Hanoi, April 27, 2023

DECISION 

Providing for the minimum level of high-value transactions
subject to reporting
[1]

 

Pursuant to the June 19, 2015 Law on Organization of the Government; and the November 22, 2019 Law Amending and Supplementing a Number of Articles of the Law on Organization of the Government and the Law on Organization of Local Administration;

Pursuant to the November 15, 2022 Anti-Money Laundering Law;

At the proposal of the Governor of the State Bank of Vietnam;

The Prime Minister promulgates the Decision providing for the minimum level of high-value transactions subject to reporting.

 

Article 1. Scope of regulation

This Decision provides for the minimum level of high-value transactions subject to reporting to the State Bank of Vietnam in accordance with Clause 2, Article 25 of the Anti-Money Laundering Law.

Article 2. Subjects of application

Financial institutions, and organizations and individuals engaged in related non-financial sectors or trades as specified in Clauses 1 and 2, Article 4 of the Anti-Money Laundering Law.

Article 3. Minimum level of high-value transactions subject to reporting

The minimum level of high-value transactions subject to reporting is VND 400,000,000 (four hundred million).

Article 4. Effect

1. This Decision takes effect on December 1, 2023.

2. This Decision replaces the Prime Minister’s Decision No. 20/2013/QD-TTg of April 18, 2013, providing for the minimum level of high-value transactions subject to reporting.

3. Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People’s Committees and related organizations and individuals shall implement this Decision.-

For the Prime Minister
Deputy Prime Minister
LE MINH KHAI


[1] Công Báo Nos 693-694 (10/5/2023)

 

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