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Criteria for selecting strategic shareholders for equitised (privatised) state commercial banks

Vietnam - June 3 2011 On 22 April 2011, the State Bank of Vietnam (SBV) released Circular No. 10/2011/TT-NHNN (Circular 10) providing criteria for selecting strategic shareholders for equitised state-owned commercial banks.

Dao Nguyen

Circular 07 restricting lending in foreign currency by credit institutions in Vietnam

Vietnam - June 1 2011 In an effort to implement the Government monetary policies to restrict lending and tighten monetary policies, on 24 March 2011, the State Bank of Vietnam (SBV) issued Circular No. 07/2011/TT-NHNN (Circular 07) which restricts banks from lending in foreign currency in Vietnam.

Dao Nguyen

Circular guiding the regime of reporting on prices of essential goods

Vietnam - June 22 2011 On 29 April 2011, the Ministry of Finance (MOF) issued Circular No. 55/2011/TT-BTC (Circular 55) guiding the regime of reporting on market prices of domestic goods and services and prices of imported goods.

Thinh Phu Dan, Dao Nguyen

Authorisation to perform real estate transfers: to tax or not to tax?

Vietnam - June 2 2011 On 5 April 2011, the Vietnamese General Department of Taxation (GDT) issued Official Letter No. 1133/TCT-TNCN (Letter 1133) clarifying whether an attorney is liable for personal income tax to the extent that he performs a real property transaction on behalf of his principal.

Dao Nguyen

Foreign strategic investors may buy up to 20 percent of the charter capital of Vietnamese commercial banks

Vietnam - June 2 2011 Pursuant to Notice No. 84/TB-VPCP dated 13 April 2011 issued by the Government Office, on 7 April 2011, the Vietnamese Prime Minister (PM) presided over a Government meeting on the management of foreign currency and Vietnamese commercial banks selling shareholding to foreign investors.

Dao Nguyen