(Biz Hub) On April 18, the Prime Minister issued Decision 20/2013/QD-TTg on high value transactions subject to report ("Decision 20").

Decision 20 provides that financial institutions and organisations/individuals doing business in non-financial sectors shall report to the State Bank of Viet Nam on the transactions valued at VND300 million or more compared to the previously regulated VND200 million under Decree 74/2005/ND-CP.

The relevant non-financial sectors include gambling and casino business; real estate management, real estate brokers and real estate trading floor business, precious metals and gems business; notary and accounting services, legal services; investment trust, corporate establishment and management service; and director and chief secretary subleasing service.

Decision 20 shall take effect on June 10. - bizconsult Law LLC