New regulations on asset and income transparency The Government has promulgated a new decree on asset and income transparency, targeting nine groups of applicable subjects.    Under the decree, applicable subjects are obliged to make asset and income declarations on: - Houses and other constructions with/without certificates of ownership; State-owned houses and constructions which are being rented or used; land-use right certificates.   - Cash, lending money, deposits in domestic and foreign organizations and individuals valued at VND50 million or more each; - Assets in foreign countries; automobiles, motorcycles, boats, ships and other assets valued at VND50 million or more each; - Precious metals, gemstones, bonds and other papers valued at VND50 million or more each; - Total annual income. Asset and income obliged to make declaration include those belong to declarers, their spouses or minor children at the time of declaration. The Decree will take effect on September 5, 2013.     Nine groups of subjects of application 1-       Full-time National Assembly deputies, full-time People's Council deputies, National Assembly candidates, People's Council candidates; 2-       Cadres and civil servants holding managerial positions and above at district-level People's Committees or above and holders entitled to allowances of equivalent positions in agencies, organizations and units; 3-       Officers holding commanding position of battalion deputy commander, deputy chief of ward/township police offices, team deputy-leader or higher positions in the People's Police; 4-       Holders of managerial positions and above in hospitals, research institutes, newspapers and magazines, management boards of projects funded with official development assistance (ODA); 5-       Principals and vice principals at public kindergarten schools, primary schools, secondary schools, high school, vocational training schools; holders of managerial positions and above at public universities and colleges; 6-       Members of boards of directors, members of boards of control, holders of managerial positions and above in SOEs; persons who represent state capital and SOEs capital and those who hold equivalent positions and above in SOEs. 7-       Secretaries and deputy secretaries of Party Committees; chairmen and vice-chairmen of People's Councils; Chairmen, vice Chairmen and members of People's Committees of communes, wards or townships… 8-       Investigators, procurators, judges, court clerks, state auditors, inspectors, enforcers and notaries public; 9-       Non-managerial position holders in charge of budget and property management at state agencies, Party agencies, socio-political organizations, public units, units which belong to the People’s Army and People’s Police. Source: VGP