THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 46/2003/TT-BTC
Hanoi, May 15, 2003
 CIRCULAR
GUIDING THE FIRST-TIME BOND PURCHASE BY ENTERPRISES AS WELL AS BOND PURCHASE/SALE BUSINESS ACTIVITIES OF ORGANIZATIONS LICENSED TO TRADE IN BONDS
Pursuant to Ordinance No. 12/1999/UBTVQH10 of April 27, 1999 on the issuance of the national construction bonds;
Pursuant to the Government’s Decree No. 28/2003/ND-CP of March 31, 2003 prescribing the issuance of the 2003 national construction bonds – education bonds;
Pursuant to Enterprise Income Tax Law No. 03/1997/QH9 of May 10, 1997;
The Ministry of Finance hereby guides in detail the use of capital for the first-time bond purchase by enterprises as well as bond purchase/sale business activities of organizations licensed to trade in bonds as follows:
I. GUIDANCE ON THE USE OF CAPITAL FOR THE FIRST-TIME PURCHASE OF BONDS BY ENTERPRISES
1. Capital sources for bond purchase: Enterprises must not use funds which are allocated by the State budget for the performance of public-utility duties, national reserve or price stabilization reserve or which are assigned by the State for the realization of the State-designated objectives, to purchase bonds.
Apart from the above-said funds originated from the State budget, enterprises may use all capital sources within their management scope as prescribed by law to purchase bonds according to the State’s general undertakings.
 

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