On 12/12/2018, the State Bank of Vietnam has issued Circular No. 30/2018/TT-NHNN guiding the determination of State capital of equitized enterprises which are credit institutions. This Circular takes effect from March 1, 2019
Accordingly, Circular No. 30/2018/TT-NHNN stipulates that state capital in equitized enterprises is a credit institution, which is defined to include the balance of the following accounts:
First, Charter capital – account number 601;
Second, capital construction investment, procurement of fixed assets – account number 602;
Third, Other capital – account number 609;
Fourth, the reserve fund to supplement charter capital – account number 611;
Fifth, Investment and development fund – account number 612;
Sixth, the financial reserve fund – account number 613.
The numbers of these accounts are taken according to the credit institutions’ accounting accounts system according to the Circular No. 22/2017/TT-NHNN dated 29/12/2017 of the Governor of the State Bank of Vietnam, amended supplementing a number of articles of the system of accounting accounts of credit institutions issued together with Decision No. 479/2004/QD-NHNN dated April 29, 2004 and the financial reporting regime for credit institutions issued together with Decision No. 16/2007/QD-NHNN dated April 18, 2007 of the Governor of the State Bank of Vietnam.
It can be seen that, according to the previous practice, the determination of state capital in equitized enterprises is that credit institutions still face many difficulties and obstacles, the data is not determined correctly, now, according to The guidance in Circular No. 30/2018/TT-NHNN has solved the above situation. Setting specific criteria in determining state capital will make the process clearer, faster and more accurate.