FORM MARCH 26, FOREIGN BANK BRANCHES MUST SUBMIT REPORTS IN ELECTRONIC
On February 07, 2018, the Ministry of Finance issues the Circular No. 16/2018/TT-BTC on guiding a number of articles regarding the financial regime applicable to credit institutions and foreign bank branches.
In accordance with this Circular, credit institutions and foreign bank branches shall make electronic reports for financial statements, including mid-year and annual accounting balance sheets; mid-year and annual reports on business results; mid-year and annual cash flow statements; explanations on mid-year and annual financial statements..
Credit institutions and foreign bank branches shall connect to the Ministry of Finance via the latter’s portal so as to submit electronic reports to the latter under its specific guidance;
In case a credit institution or foreign bank branch lacks conditions for connecting its information network with that of the Ministry of Finance, it shall send electronic files of reports recorded on information-carrying objects or written reports to the Ministry of Finance for the latter to update reported data..
This Circular takes on March 26, 2018.
