Cadres and civil servants are required to declare assets and income at vnd 50 millions or above

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On November 20, 2018, the National Assembly issues the Anti-Corruption Law No. 36/2018/QH14 which includes many remarkable contents.

Accordingly, the following assets and income shall be declared:

– Land use rights, houses, construction works and other property attached thereto;

– Previous metals, gemstones, cash, financial instruments and other real property each of which is assessed at VND 50 millions or above;

– Overseas property and accounts;

– Total income between 02 declarations.

Individuals required to declare assets and income are:

– Cadres and civil servants;

– Commissioned officers of police and military forces, career military personnel;

– Holders of positions of deputy managers and above in public service agencies, state-owned enterprises, appointed representatives of state capital in enterprises;

– Nominees for the National Assembly delegates and the People’s Councils delegates.

Methods of declaration are: First declaration, Additional declaration, Annual declaration, Declaration serving official management.

This Law takes effect on July 01, 2019.