Detailed Guidance on Foreign Exchange Management for Casino Businesses
On 15 October 2017, Circular No. 10/2017/TT-NHNN (Circular No. 10) issued by the State Bank of Vietnam (SBV) for the regulation of foreign exchange management in casino business entered into force. Circular No. 10 applies to all enterprises conducting casino business, persons eligible to play in casinos and authorised commercial banks and foreign bank branches.
Circular 10 has notable provisions regulating: casino token exchange, the use of foreign currency and foreign exchange activities, verification and award of monetary prizes, and enterprise obligations.
Click here to read the full summary.