THE CASES ARE NOT USED CASH IN TRANSACTIONS OF BUSINESS

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  Ministry of Finance issued Circular No. 09/2015/TTBTC date 29/01/2015 guiding finance transactions of business under provisions at Clause 6 of Decree No. 222/2013/NĐ-CP date 31/12/2013 of Government on payment by cash.

  Accordingly:

  First, businesses are not allowed to use cash (paper money, debased coinage issued by State Bank) to payment when contribute capital and transfer capital into other business.

  Second, when contribute capital and transfer capital into other business, businesses must:

  • Payment by cheque;
  • Payment bydebit authorization-transfer;
  • The appropriate payment methods are not use cash under current regulations.

  Third, business when contribute capital and transfer capital into other business by assets (not money) will perform under regulations of law on business.

  So, if business has shareholder to contribute capital by cash will be considered not contribute fully that will directly affect to loan interest of business. In addition, the transfer of shares is also subject of this Circular.

  This Circular has taken effect since 17/03/ 2015.

  Lawyer in Nha Trang