Quang Nam strengthens management of foreign exchange and gold markets

Accordingly, implementing the Central's direction, in order to effectively coordinate to improve the efficiency of foreign exchange and gold market management in the area, the Provincial People's Committee requested the State Bank of Vietnam, Quang Nam Province Branch, to strengthen dissemination and require credit institutions and enterprises to strictly comply with regulations on foreign exchange management and gold trading.

In particular, activities related to foreign currency exchange; receiving and paying foreign currency; one-way money transfer from Vietnam to foreign countries and payment for current transactions not in accordance with regulations; buying and selling of gold bars by stores without a business license to buy and sell gold bars.

Continue to effectively implement the role of Head of the interdisciplinary working group on inspection and rectification of foreign exchange and gold trading activities in the area; strengthen inspection and examination work, and strictly handle violations of the law in foreign exchange and gold trading and service provision activities.

Regularly monitor, manage and closely supervise developments in the foreign exchange and gold markets in the area. Timely report and advise the Provincial People's Committee on related matters to improve the effectiveness of foreign exchange and gold market management.

Preside over and coordinate with relevant units to disseminate legal regulations and sanctions to organizations and individuals so that organizations and individuals understand and properly implement legal regulations on foreign exchange and gold.

The Department of Science and Technology strengthens state management of measurement in gold trading and quality management of gold jewelry and fine arts circulating on the market...

The Department of Planning and Investment guides and issues new business registration certificates and issues registrations for changes in business registration certificates for gold and foreign exchange businesses. Strictly control business registration and strengthen state management after business registration according to regulations.

The Provincial Tax Department disseminates and guides enterprises and units trading in gold, silver, and precious stones to strictly implement regulations on taxes, accounting regimes, issuance and use of electronic invoices generated from cash registers in gold trading activities. Actively coordinate with local authorities to step up inspection of the application of electronic invoices and electronic invoices generated from cash registers at enterprises, stores, and gold trading locations; declare and pay taxes in accordance with current laws...

The provincial police coordinate with relevant agencies in preventing, detecting, combating and handling violations of the law on gold and foreign exchange trading; illegal transportation and smuggling of gold and foreign currency across the border.

The Provincial People's Committee also requested relevant agencies and units to coordinate and strengthen the implementation of solutions to manage the foreign exchange and gold markets in the area; disseminate regulations on foreign exchange management and gold trading activities on mass media...

Source: https://baoquangnam.vn/quang-nam-tang-cuong-quan-ly-thi-truong-ngoai-hoi-va-vang-3137410.html