On December 31, 2013, the Government issued the Decree No. 222/2013/ND-CP of the Government providing for cash payment; of which, one of the most significant points is regulation on cases making non-cash payments.
Specifically, organizations using state budget and state capital shall make non-cash payments in transactions, except for those payments permitted to be made in cash according to the regulations specified by the Ministry of Finance or the State Bank. Organizations, individuals shall not make payment for security transactions in Stock Exchange or for security transactions that are registered, deposited at Securities Depository but not conducted via the transaction system of Stock Exchange.
Enterprise shall not make cash payment in transaction of capital contribution, purchase and transfer of contributed capital into enterprise; Enterprises that are not credit institution shall not use cash when borrowing or lending each other.
Under this Decree, credit institutions, branches of foreign banks are allowed to make agreement with customers on cash withdrawal plan and on the advance notification of such withdraw on the withdrawal of cash in large quantity. Units making transactions with the State Treasuries that have demand of withdrawing cash at the State Treasuries must register in accordance with the regulations specified by the Ministry of Finance.
This Decree takes effect on March 1, 2014
To download this Decree, please click this link:
Source: www.luatvietnam.vn
