Outstanding policies effective from November

Transfers of 500 million or more must be reported to the Anti-Money Laundering Department.

This content was issued by the State Bank in Circular 27/2025/TT-NHNN. Specifically, Article 9 of the Circular stipulates the regime for reporting electronic money transfer transactions to the Anti-Money Laundering Department using electronic data, including:

Domestic electronic money transfer transactions: transactions with a value of VND 500 million or more or in foreign currency of equivalent value where all financial institutions participating in electronic money transfer transactions are in Vietnam.

International electronic money transfer transactions: electronic money transfer transactions in which at least one participating financial institution is located outside of Vietnam and conducted in countries and territories outside of Vietnam with a value of 1,000 USD or more or equivalent in other foreign currencies.

However, if the reporting entity is an intermediary financial institution in an electronic money transfer transaction, it is not required to make the above report.

Regulations on non-cash payment services

The State Bank of Vietnam has just issued Circular No. 30/2025/TT-NHNN dated September 30, 2025, amending and supplementing a number of articles of Circular No. 15/2024/TT-NHNN regulating the provision of non-cash payment services . The Circular takes effect from November 18, 2025, except for the provision in Clause 2, Article 7, which will take effect from April 1, 2026.

To be eligible for input VAT deduction, businesses must have non-cash payment documents for purchased goods and services.

PHOTO: DAN THANH

Accordingly, Circular 30/2025 supplements regulations on customer identity authentication, requiring individuals who are Vietnamese citizens to present their citizen identification card or level 2 electronic identification; for foreigners residing in Vietnam, they must have a passport, equivalent documents or level 2 electronic identification when using the service.

In addition, the Circular tightens the responsibility of payment service providers in handling complaints and denunciations of violations, and requires ensuring that the online payment system is not interrupted for more than 4 hours/year.

If the downtime exceeds 30 minutes or the maintenance is unannounced, the unit must report to the State Bank within 4 hours and submit a detailed report within 3 working days.

Tightening the handling of late payment and evasion of compulsory social insurance payment

The Government has just issued Decree No. 274/2025/ND-CP dated October 16, 2025, detailing the implementation of a number of articles of the Law on Social Insurance 2024 on late payment, evasion of payment of compulsory social insurance (SI), unemployment insurance and settlement of complaints and denunciations in this field. The Decree takes effect from November 30, 2025.

According to the new regulations, if employers are late or evade compulsory social insurance and unemployment insurance payments, the amount and number of days of violation will be determined specifically. The amount of late payment is calculated based on the employer's payment obligation, while the number of days of evading payment is determined from the next day of the prescribed payment deadline.

From November 30, 2025, late payment of social insurance for more than 60 days is considered evasion of payment.

PHOTO: TN

However, Article 4 of this Decree stipulates that cases are not considered as evasion of compulsory social insurance and unemployment insurance when there is one of the reasons announced by the competent authority on natural disaster prevention and control, emergency, civil defense and disease prevention and control, which are: storms, floods, inundation, earthquakes, major fires, prolonged droughts and other types of natural disasters that directly and seriously affect production and business activities; dangerous epidemics announced by competent state agencies, causing serious impacts on production and business activities and financial capacity of agencies, organizations and employers; emergency situations as prescribed by law causing sudden and unexpected impacts on the activities of agencies, organizations and employers.

In addition, other force majeure events as prescribed by civil law are not considered as evasion of social insurance payment.

Commercial banks are allowed to receive gold bars.

Circular 33/2025/TT-NHNN issued by the State Bank of Vietnam, from November 15, credit institutions are allowed to receive and deliver gold bars to customers, each bar, instead of only the State Bank doing it as before.

Commercial banks are allowed to receive gold bars from November 15, 2025

PHOTO: DAO NGOC THACH

The Circular also specifies the gold classification standards into 3 groups: jewelry - fine art gold (content of 8 karats or more), gold bars (with clear codes, parameters, and standards) and raw gold (in the form of bars, grains, and pieces). Gold bar packaging must be anti-counterfeit according to the standards of commercial banks or businesses licensed to produce gold bars.

Notably, gold packaging and sealing are regulated more strictly: gold bars of the same quality are packed in lots of 100 or multiples of 100 pieces (maximum 500 pieces), raw gold is packed in lots of 5 or multiples of 5 bars (maximum 25 bars), in stainless metal boxes, sealed and clearly labeled with verification information.

According to this circular, commercial banks are allowed to deliver gold bars to customers along with delivery records, contracts or transaction confirmation documents. This is to ensure transparency, traceability and quality of each gold bar product.

Promulgating the new Vietnamese economic sector system

The Prime Minister has just signed Decision No. 36/2025/QD-TTg dated September 29, 2025, promulgating the System of Vietnamese Economic Sectors, effective from November 15, 2025, replacing Decision No. 27/2018/QD-TTg.

The new industry system updates and standardizes the industry code list in line with the trend of digital transformation, green economic development and international integration. The decision clearly stipulates the principles of using industry codes in business registration, investment registration, state statistics and administrative databases.

Accordingly, businesses need to review and update their business registration codes to ensure consistency and avoid errors in administrative procedures and statistical reporting. The application of the new system is expected to help synchronize national economic data and improve policy-making efficiency.