BTMC asked for clarification of the payment rules for gold transactions. Previously, the requirement for non-cash payment for transactions worth at least VND 20 million a day could be understood in two ways: based on the amount actually paid during the day or on the total value of gold bought and sold that day.
The company asked whether customers must pay through an account if they buy or sell gold above the threshold but defer payment and split it into several installments on different days.
BTMC also described a customer making several transactions on the same day, with each transaction below the threshold and paid in cash. For example, a customer buys a pair of earrings for VND 10 million in the morning and returns in the evening to buy a necklace for VND 10 million.
The company asked whether the seller must refund the cash from the first transaction, take back the product and require the customer to transfer the full amount, or apply non-cash payment only to the transaction that causes the day's total to reach the threshold.
The State Bank of Vietnam said that on October 16, the government issued Decree No. 390/2026/ND-CP. The decree amends and supplements Decree No. 24/2012/ND-CP on gold trading, which had previously been amended by Decree No. 232/2025/ND-CP.
Under Clause 4, Article 1 of Decree No. 390/2026/ND-CP, a customer's gold purchases and sales worth at least VND 5 million in a day must be paid using non-cash payment methods.
The State Bank explained that the VND 5 million threshold is based on the customer's total gold purchases and sales for the day, not on the value of each individual transaction or installment.
Non-cash payment is required for the transaction that brings the day's total gold trading value to VND 5 million or more, as well as for all subsequent transactions that day.
The rule is intended to make gold transactions more transparent, improve the checking and reconciliation of cash flows, prevent tax losses and support anti-money-laundering efforts in gold trading. The VND 5 million threshold matches the non-cash payment threshold under tax law.
The State Bank reminded organizations and individuals buying or selling gold to comply with invoicing and documentation rules. Deliberately splitting transactions or installments to evade the non-cash payment requirement may result in review and action under the law.
Sources: Dân Trí
