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blue-check From February 12th, 2021: The minimum carter capital for the business of prize-winning electronic games shall be increased to 500 billion VND

Decree No. 121/2021/ND-CP dated December 27th, 2021 of the Government on the business of prize-winning electronic games for foreigners
Posted: 29/12/2021 11:13:31 AM | Latest updated: 5/7/2022 1:29:13 PM (GMT+7) | LuatVietnam: 5375 | Vietlaw: 570
VietlawOnline

One of the notable points of this Decree is the increase in the minimum carter capital of 200 billion VND to 500 billion VND with regard to business of prize-winning electronic games for foreigners.

In addition, in the fiscal year preceding the year of application for business eligibility certificate for prize-rewarding electronic gaming business, enterprises must have interests.

Some prohibited acts are added as follows:

- Taking advantage of the maintenance and repair of prize-winning electronic gaming machines to organize the business of illegal prize-winning electronic games;

- Conducting the business of prize-winning electronic gaming machines and gaming devices which have contents or cultural images yet to be approved.

At least 15 days before the opening of the business of prize-winning electronic game operation, an enterprise shall send written notifications to the Ministry of Finance, business registry agency, Department of Finance, Public Security of the province, and Local Department of Tax for supervision and management.

In addition, before organizing the business of prize-winning electronic games or in case of changing the number, categories of machines, enterprises shall send written reports to the Ministry of Finance, Department of Finance of the province, Department of Culture, Sport, and Tourism, and Local Department of Tax.

This Decree takes effect from February 12th, 2022.

To replace Decree No. 86/2013/ND-CPstatus1 dated July 29th, 2013 and Decree No. 175/2016/ND-CPstatus1 dated December 30th, 2016.

To annul Article 6 of Decree No. 151/2018/ND-CPstatus2 dated November 7th, 2018.

Notes
Please be informed that the attachments are neither translated nor included in the English file.
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Information

Effective Date 12-Feb-2022
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 570

Files attachment

enflag wordicon ND121-27122021CP[E].docx

Timeline

Culture - Sports

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