The State Bank of Vietnam (SBV) issued Circular No. 03/2012/TT-NHNN on March 8 on foreign currency lending by domestic credit institutions and foreign bank branches for resident borrowers
This Circular will effect on May 2, 2012 and replace Circular No. 07/2011/QD-NHNN of the SBV Governor dated March 24, 2011 on foreign currency lending by credit institutions for resident borrowers.
Subsequent to the promulgation of Circular No. 37/2011/TT-NHNN dated 12 December 2011 amending and supplementing Circular No. 17/2011/TT-NHNN on lendings secured by valuable papers of the State Bank for the credit institutions, the State Bank of Vietnam ("SBV") has issued Circular No.01/2012/TT-NHNN ("Circular 01") on this 16 February on discounting valuable papers of the State Bank for credit institutions and branches of foreign banks.[+]
The Government promulgated the Decree No. 122/2011/ND-CP ("Decree 122") on 27 December 2011 amending and supplementing Decree 124/2008/ND-CP ("Decree 124") implementing the Law on CIT 2008. Decree 122 shall be applied to the tax period of year of 2012 as from 01/03/2012.