Rules Issued on Business in Prize Electronic Games for Foreigners
|The certificate of eligibility for the business shall be issued by the Ministry of Finance. Photo: Getty Images|
The Ministry of Finance has issued a circular detailing the implementation of several articles of the Government's Decree No. 121/2021/ND-CP on the business of prize electronic games for foreigners.
Under Circular No. 39/2022/TT-BTC, fees for the grant and extension of certificate of eligibility for the business shall be VND150 million (US$6,428), according to Government News.
Fees for re-grant and adjustment of certificate of eligibility for the business shall be reduced to VND5 million from the current VND20 million.
The circular shall take effect from August 8, 2022, replacing Circular No. 11/2014/TT-BTC and Circular No. 57/2017/TT-BTC.
The certificate of eligibility for the business shall be issued by the Ministry of Finance, according to the Government's Decree No. 121/2021/ND-CP on business in prize electronic games for foreigners in Vietnam.
Conditions for grant of business eligibility certificates
|To obtain the eligibility certificate, an enterprise must be the one that has registered the business of prize video games under the Law on Investment and Law on Enterprises. Photo: VnEconomy|
According to the decree, to obtain such certificate, an enterprise must be the one that has registered the business of prize video games under the Law on Investment and Law on Enterprises and satisfies all the conditions below, the Vietnam Law & Legal Forum said.
Firstly, the enterprise must have a tourist accommodation establishment of five-star class ranked by a competent state management agency.
Secondly, the enterprise’s gaming facility must have separate entrance and exit doors and be isolated from areas reserved for other business activities. This facility is also required to have electronic devices and CCTV systems to ensure round-the-clock security.
Worthy of note, the new regulation increases the time for storage of recorded CCTV footages from 30 days to at least 180 days from the recording date, in which images of entrance and exit doors, places of installation of gaming machines, cashier counters, and cash and token safes must be clear.
In addition, the enterprise has to comply with regulations on security and order applicable to conditional business lines, and post its internal rules in Vietnamese, English and other foreign languages (if any) at easy-to-spot positions at the entrance and exit doors.
Another requirement is that managers of the enterprise’s gaming facility must possess a university or higher degree and have at least three years’ experience in management of the business of prize electronic games.
Fourthly, the enterprise is required to have a charter capital of at least VND500 billion, instead of VND200 billion under Decree 175 of 2016, and earn profits in the fiscal year preceding the year of submission of a dossier of application for the business eligibility certificate.
Lastly, the enterprise has to work out a business plan ensuring social security, order and safety in accordance with law.
Particularly, the enterprise may organize prize video games at the sole gaming facility licensed by a state authority.
Persons allowed to play in and enter gaming facilities
|Photo: Government News|
Persons allowed to play in gaming facilities are foreigners and overseas Vietnamese who lawfully enter Vietnam with their passports or international travel documents granted by foreign authorities and remaining valid. They must have full civil act capacity in accordance with Vietnam’s law and willingly observe game rules. Game players are also obliged to fulfill tax obligations toward the Vietnamese State.
Decree 121 also specifies those allowed to be in and out of a gaming facility. They include managers and employees of the enterprise dealing in prize electronic games as assigned and listed by the enterprise. Additionally, employees of a service-providing organization that signs a contract with the game-dealing enterprise may enter the gaming facility on the condition that they are assigned and named in the updated list announced by the enterprise.
Meanwhile, on-duty officials of competent state management agencies may enter the gaming facility for carrying out inspection of the enterprise doing the business of prize video games.
The above persons may enter the gaming facility only for performing their assigned tasks, but not for playing games in any form.
The enterprise is requested to keep a monitoring book or issue e-cards to control all people coming in and out of the gaming facility. The monitoring book must be kept for at least three years to serve management, supervision, examination and inspection activities of competent authorities./.
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