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Circular 118-Lb/tt/ngt/sbv: Guidelines For Implementation Of Article 6 Of Decision No. 113-Dated 10/7/80 Of The Council Of Ministers On A Number Of Measures To Develop The Product And Strengthen ...

Original Language Title: Thông tư liên tịch 118-LB/TT/NgT/NHNN: Hướng dẫn thi hành Điều 6 Quyết định số 113-HĐBT ngày 10/7/82 của Hội đồng Bộ trưởng về một số biện pháp phát triển hàng sản xuất và tăng cường công tác...

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CIRCULAR of the MINISTRY of FOREIGN TRADE-STATE BANK of 118-LB/TT/NGT/NHNN on 20-10-1983 GUIDELINES for IMPLEMENTING article 6 of DECISION NO. 113-DATED July 10, 1982 of the COUNCIL of MINISTERS on a NUMBER of MEASURES to DEVELOP EXPORTS and STRENGTHEN the MANAGEMENT of the EXPORT and IMPORT of spiritual bases of Decree No. 40-CP on 7-2-1980 Government Council issued a regulation on official policies and measures to encourage export production development. Decree No. 200-CP on 26-5-1981 of the Council additional Government and revise some points in a regulation attached to Decree No. 40-CP and decision No. 40-CP and decision No. 113-dated July 10, 1982 of the Council of Ministers on a number of measures to develop exports and strengthen the management of import and export.
Article 6 decision No. 113-HĐBT rules: "If the Central export organization of production organization, purchase the export does not list the Central export then used from 70 to 90% of foreign exchange earnings (according to FOB value) depending on each case; the number of foreign currency left from 10 to 30% of foreign currency funds due the State.
If the institutions of the Central import and export foreign currency loans of the Foreign Exchange Fund or State export to export, then the production after the return of capital and interest, is used 70% of foreign exchange earnings, and considered himself to have capital to companies importing materials goods, service development, expand production and exports, is not used in the other; 30% of foreign currency is also lạin are added to the Exchange Fund of the State of export ".
Foreign Trade Minister-State Bank of more specific guidelines as follows: 1. The purpose of this regulation is to encourage the Corporation, import-export company (hereinafter referred to as import and export units) promote innovative initiative, which aims to promote the production, purchase, increasing the export source , the increase of foreign exchange for the State and to create conditions for the Corporation, import-export companies on higher foreign exchange capital, these units use a portion of foreign exchange earnings to import goods and materials development, expanding the production of export goods.
2. The level of exchange units are entitled to the following: a) in the case of export and import unit production organization, purchase the non-export list export unified central management, export made exceed the central plan, the State is not planned , or the plan but does not provide the corresponding materials as specified in article 4 of decision No. 113-HĐBT then used foreign currency according to the rate specified in circular No. 64-on 3-11-1982 BNgT of Ministry of foreign trade.
Specified percentage above prices FOB.
b) in the case of import-export unit of the foreign currency loans or foreign currency funds of State export to export the production after the repayment and the interest rate used 70% of foreign currency earnings.
Part of the remaining foreign currency lodging units on the Exchange Fund of the State.
3. Each export account permission to use foreign currency in the Bank for foreign trade of Vietnam, or the foreign trade Bank branch to account revenues spent on foreign currency.
a Portion of the revenue account) are:-own Capital in foreign currency of the unit be level (if any).
-Foreign currencies are influenced by the export of items organized units of production and external procurement catalog management central items, the unified central management but the unit made exceeded the plan, or the State not planned or allocated to the plan but does not provide the corresponding materials.
-Foreign Exchange-part unit is entitled after having debts repayment of capital and interest.
-Foreign exchange operations in foreign currency of foreign capital but not to the repayment period.
To be credited into the account bank use right of Exchange in case the unit is clearly entitled analysis of foreign currency. The case unclear, the foreign trade Ministry proposal Bank confirmation.
The grant of rights of use of exchange units will proceed by way of margin, the licensing procedure of exchange regulations in the foreign trade Ministry Circular – State Bank of 4-LB/TT on 1-8-1980.
b) part of the account including:-foreign currency to repay the loan when due,-foreign currency spent on importing the goods and supplies, to serve the development and expansion of export manufacturing or business transfer by own capital,-other expenses according to the recommendations of the unit and was allowed by the Ministry of foreign trade for payment in foreign currency with foreign institutions as well as in the water.
When necessary the Bank for foreign trade will open the State to account for each currency and every profession.
4. The Bank of foreign trade will Forex links all of the foreign currency obtained according to the rates of the current internal accounting and records the right to the use of exchange of units when the units need to transfer money to the Vietnam foreign trade Bank to buy back the foreign currency according to the exchange rate prevailing internal statement.
Vertical unit of account name used the balance of this account at any time and transferred the balance of the previous year to year: periodically in are you the unit must plan the expense account of the right to use of foreign exchange by the Ministry of foreign trade confirmation and send it to the Bank for foreign trade.
This account is used only for payment with a foreign organization or individual. Manage each commercial bank licence to export services of the Ministry of foreign trade. In the case of the unit of account holders want to use foreign currencies to pay for the purchase of materials, raw materials of a domestic unit must be permitted by the Ministry of foreign trade and the foreign trade Bank to accept.
When the use of foreign currency to import equipment-supplies-goods materials needed, the unit needs to sent to the bank where the account holder paper currency requirement according to the content and purpose of the account and import license of the Ministry of foreign trade.
The Bank will create conditions conducive to the use of foreign currency units that are properly and timely regulatory regime.
All foreign currency loans to business must be through the Vietnam foreign trade Bank.
This circular is effective from the date of signing.
The previous provisions contrary to write content in this circular are no longer in force.