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TRANSACTIONS VALUED AT VND 400 MILLION ARE SUBJECT TO REPORTING FROM DECEMBER 1

On April 27, 2023, the Prime Minister issues Decision No. 11/2023/QD-TTg on high-value transactions subject to reporting and these regulations take effect on December 1, 2023.

To be specific:

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

This Decision prescribes the level of high-value transactions reported to the State Bank of Vietnam. Financial institutions, related organizations, and individuals engaged in non-financial business lines.