{"id":5136,"date":"2026-09-11T15:37:50","date_gmt":"2026-09-11T08:37:50","guid":{"rendered":"https:\/\/giaodichlienket.man.net.vn\/?p=5136"},"modified":"2026-09-11T15:40:24","modified_gmt":"2026-09-11T08:40:24","slug":"to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu","status":"publish","type":"post","link":"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/","title":{"rendered":"Is the state-owned debt trading and resolution organization 100% considered an affiliated party?"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">State-owned debt trading and processing organizations (100%) are increasingly appearing in debt restructuring transactions, but not all chief accountants understand when selling or processing debt through this group of organizations will implicate the enterprise as having an affiliated relationship. <\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/thuvienphapluat.vn\/van-ban\/Doanh-nghiep\/Nghi-dinh-255-2026-ND-CP-quan-ly-thue-giao-dich-lien-ket-cua-doanh-nghiep-co-quan-he-lien-ket-713416.aspx\" rel=\"nofollow noopener\" target=\"_blank\">Decree 255\/2026\/ND-CP<\/a><\/span><\/strong><span style=\"font-weight: 400;\">. A minor misidentification of a detail in Article 5 can lead businesses to create unnecessary additional documentation for determining transfer pricing, or conversely, omit declaration obligations. This article systematically reviews the legal basis, application conditions, and common mistakes related to the organization of buying, selling, and handling state-owned debt.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Index<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Vi_sao_cau_hoi_ve_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von_dang_nong_tro_lai\" >Why is the question of organizing the purchase and handling of state-owned debt (100%) becoming a hot topic again?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Can_cu_phap_ly_xac_dinh_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von_co_phai_ben_lien_ket\" >The legal basis for determining whether an organization buying and selling and handling state-owned debt (100%) has capital must be an affiliated party.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Nguyen_tac_chung_tai_diem_d_khoan_2_Dieu_5_Nguong_25_va_50\" >General principle at point d, clause 2, Article 5: Thresholds 25% and 50%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Ba_nhom_ngoai_le\" >Three groups of exceptions<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Ba_dieu_kien_de_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_khong_bi_coi_la_ben_lien_ket\" >Three conditions must be met for an organization involved in the purchase and handling of state-owned debt not to be considered an affiliated party.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Phan_biet_ngoai_le_danh_cho_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_voi_ngoai_le_cua_to_chuc_tin_dung\" >Distinguish between the exceptions for state-owned debt trading and resolution organizations and the exceptions for credit institutions.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Vi_du_thuc_te_ap_dung_quy_dinh_ve_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu\" >A practical example of applying regulations on the organization of buying, selling, and handling state-owned debt.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Ho_so_chung_minh_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von_khong_phai_ben_lien_ket\" >Documentation proving that the debt trading and processing organization 100% is state-owned and not an affiliated party.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Ket_luan\" >Conclude<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Thong_tin_lien_he_MAN_%E2%80%93_Master_Accountant_Network\" >Contact information MAN \u2013 Master Accountant Network<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Cau_hoi_thuong_gap_ve_truong_hop_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von\" >Frequently Asked Questions Regarding the Case of Organizations Buying and Handling State-Owned Debt 100% Capital<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#To_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von_la_gi_theo_Nghi_dinh_2552026ND-CP\" >What is the purpose of the State-owned debt trading and resolution organization 100% according to Decree 255\/2026\/ND-CP?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Dieu_kien_nao_de_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_khong_bi_coi_la_ben_lien_ket\" >What conditions must be met for an organization involved in the purchase and handling of state-owned debt not to be considered an affiliated party?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Ngoai_le_danh_cho_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_co_giong_ngoai_le_cua_to_chuc_tin_dung_khong\" >Are the exceptions for state-owned debt trading and resolution organizations the same as those for credit institutions?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Neu_khoan_no_dat_nguong_25_von_gop_va_50_tong_du_no_trung_dai_han_doanh_nghiep_co_luon_phai_ke_khai_giao_dich_lien_ket_khong\" >If the debt reaches 25% of contributed capital and 50% of total medium and long-term debt, is the business always required to declare related-party transactions?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Doanh_nghiep_can_luu_nhung_tai_lieu_gi_de_chung_minh_khong_co_quan_he_lien_ket_voi_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu\" >What documents do businesses need to keep to prove they have no affiliation with state-owned debt trading and resolution organizations?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/to-chuc-mua-ban-va-xu-ly-no-do-nha-nuoc-so-huu\/#Neu_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_sau_do_gop_von_vao_doanh_nghiep_ben_no_thi_sao\" >What if an organization that buys and handles state-owned debt then invests capital in the debtor company?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Vi_sao_cau_hoi_ve_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von_dang_nong_tro_lai\"><\/span><b>Why is the question of organizing the purchase and handling of state-owned debt (100%) becoming a hot topic again?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Since Decree 255\/2026\/ND-CP replaced the old legal framework on tax management for enterprises with related-party transactions, the method of identifying related parties in Article 5 has been written in much more detail, including a specific point for <\/span>The organization for buying and selling debt is owned by the State with 100% capital. This is not a coincidence: the buying and selling of bad debts and the handling of outstanding debts through organizations owned by the State with 100% charter capital is a popular financial restructuring channel for many businesses, especially those with credit loans facing difficulties.<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The question is very practical: When a company&#039;s debt is transferred, bought, or guaranteed by a state-owned debt trading and resolution organization, does the relationship between the two parties automatically become an affiliated relationship?<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">If such transactions exist, businesses must declare them, prepare documentation to determine the cost, and be subject to the interest expense limitation threshold. Otherwise, businesses are exempt from all these obligations for that specific relationship. The difference between these two conclusions can amount to billions of dong in compliance costs and tax risks, so correctly understanding the regulations on the purchase and handling of state-owned debt is an indispensable step before closing the tax period.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Can_cu_phap_ly_xac_dinh_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von_co_phai_ben_lien_ket\"><\/span><b>The legal basis for determining whether an organization buying and selling and handling state-owned debt (100%) has capital must be an affiliated party.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure id=\"attachment_5140\" aria-describedby=\"caption-attachment-5140\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5140\" src=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Can-cu-phap-ly-xac-dinh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-co-phai-ben-lien-ket-scaled.jpg\" alt=\"C\u0103n c\u1ee9 ph\u00e1p l\u00fd x\u00e1c \u0111\u1ecbnh t\u1ed5 ch\u1ee9c mua b\u00e1n v\u00e0 x\u1eed l\u00fd n\u1ee3 do Nh\u00e0 n\u01b0\u1edbc s\u1edf h\u1eefu 100% v\u1ed1n c\u00f3 ph\u1ea3i b\u00ean li\u00ean k\u1ebft\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Can-cu-phap-ly-xac-dinh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-co-phai-ben-lien-ket-scaled.jpg 2560w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Can-cu-phap-ly-xac-dinh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-co-phai-ben-lien-ket-300x169.jpg 300w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Can-cu-phap-ly-xac-dinh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-co-phai-ben-lien-ket-1024x576.jpg 1024w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Can-cu-phap-ly-xac-dinh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-co-phai-ben-lien-ket-768x432.jpg 768w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Can-cu-phap-ly-xac-dinh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-co-phai-ben-lien-ket-1536x864.jpg 1536w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Can-cu-phap-ly-xac-dinh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-co-phai-ben-lien-ket-2048x1152.jpg 2048w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Can-cu-phap-ly-xac-dinh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-co-phai-ben-lien-ket-18x10.jpg 18w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><figcaption id=\"caption-attachment-5140\" class=\"wp-caption-text\">The legal basis for determining whether an organization buying and selling and handling state-owned debt (100%) has capital must be an affiliated party.<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">All content related to the organization of buying, selling, and handling state-owned debt is located at <\/span><b>Point d, Clause 2, Article 5 of Decree 255\/2026\/ND-CP<\/b><span style=\"font-weight: 400;\">, This section outlines the regulations concerning affiliated parties. To properly understand the exceptions for this group of organizations, one needs to read the general principles.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Nguyen_tac_chung_tai_diem_d_khoan_2_Dieu_5_Nguong_25_va_50\"><\/span><b>General principle at point d, clause 2, Article 5: Thresholds 25% and 50%<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Clause d, paragraph 2, Article 5 stipulates that an enterprise guaranteeing or lending capital to another enterprise in any form (including loans from third parties secured by the financial resources of the affiliated party and financial transactions of a similar nature) will constitute an affiliated relationship, provided that the total outstanding debt of the borrowing enterprise to the lending or guaranteeing enterprise is at least equal to 25% of the owner&#039;s equity of the borrowing enterprise and accounts for over 50% of the total outstanding debt of all medium and long-term debts of the borrowing enterprise.<\/span><\/p>\n<p style=\"text-align: justify;\"><b>Important Note:<\/b><span style=\"font-weight: 400;\"> Only when the loan or guarantee simultaneously meets both conditions regarding the equity ratio and the proportion of medium- and long-term debt, is the relationship between the lender or guarantor and the borrowing enterprise considered an affiliated relationship.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Ba_nhom_ngoai_le\"><\/span><b>Three groups of exceptions<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Immediately following the general principles, the Decree sets out three groups of exclusions, applicable to three different groups of lenders or guarantors:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Point d.1:<\/b><span style=\"font-weight: 400;\"> The guarantor or lender is a credit institution as defined by Law No. 32\/2024\/QH15 on Credit Institutions (amended by Law No. 96\/2025\/QH15), and does not directly or indirectly participate in the management, control, capital contribution, or investment in the borrowing enterprise or the guaranteed enterprise.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Point d.2:<\/b><span style=\"font-weight: 400;\"> The guarantor or lender is a credit institution under the same law mentioned above, and the borrowing or guaranteed enterprise is not under the same management, control, capital contribution, or investment of another third party.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Point d.3:<\/b><span style=\"font-weight: 400;\"> The creditor or guarantor is a state-owned organization with charter capital that functions in buying, selling, and handling debt, and does not directly or indirectly participate in the management, control, capital contribution, or investment in the debtor or the guaranteed enterprise.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The regulations specifically apply to state-owned debt trading and resolution organizations (100% capital), completely separate from the group of credit institutions.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">This separation is clearly justified because the nature of the operations of state-owned debt trading and resolution organizations is to acquire and purchase pre-existing debts. The relationship between these organizations and debtor enterprises is inherently formed from debt resolution operations, not from a typical credit granting decision, so lawmakers need an exclusion condition that is appropriate to this specific characteristic.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Ba_dieu_kien_de_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_khong_bi_coi_la_ben_lien_ket\"><\/span><b>Three conditions must be met for an organization involved in the purchase and handling of state-owned debt not to be considered an affiliated party.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The regulation can be broken down into three conditions that must be met simultaneously so that the relationship between the organization buying and handling state-owned debt and the debtor or guaranteed enterprise is not identified as an affiliated relationship:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ownership requirements: The creditor or guarantor must be an organization with state-owned capital of less than 100%. Organizations with less than 100% of state capital, even if they have the function of buying and selling debt, are not subject to the provisions of point d.3.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Functional requirements: The organization must have the function of buying, selling, and processing debt. This is a condition linked to its core business activities permitted by law, and not just a single, random debt purchase transaction from another organization.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Conditions regarding the level of intervention: State-owned debt trading and resolution organizations do not directly or indirectly participate in the management, control, capital contribution, or investment in the debtor enterprise or the guaranteed enterprise according to other related party criteria specified in points a and c of Clause 2, Article 5 (owning capital of 25% or more of TP3T; being the largest shareholder and holding 10% or more of TP3T shares).<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Only when all three conditions above are met, will the creditor-debtor relationship or guarantee relationship arising from the buying and selling or handling of debt be excluded from the category of related-party relationships under point d. If any condition is missing, for example, if the debt buying and selling and handling organization is state-owned and simultaneously holds more than 25% of the debtor&#039;s capital contribution, the related-party relationship will still be established under point a or point c, independent of any exceptions.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Phan_biet_ngoai_le_danh_cho_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_voi_ngoai_le_cua_to_chuc_tin_dung\"><\/span><b>Distinguish between the exceptions for state-owned debt trading and resolution organizations and the exceptions for credit institutions.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure id=\"attachment_5139\" aria-describedby=\"caption-attachment-5139\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5139\" src=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Phan-biet-ngoai-le-danh-cho-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-voi-ngoai-le-cua-to-chuc-tin-dung-scaled.jpg\" alt=\"Ph\u00e2n bi\u1ec7t ngo\u1ea1i l\u1ec7 d\u00e0nh cho t\u1ed5 ch\u1ee9c mua b\u00e1n v\u00e0 x\u1eed l\u00fd n\u1ee3 do Nh\u00e0 n\u01b0\u1edbc s\u1edf h\u1eefu 100% v\u1ed1n v\u1edbi ngo\u1ea1i l\u1ec7 c\u1ee7a t\u1ed5 ch\u1ee9c t\u00edn d\u1ee5ng\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Phan-biet-ngoai-le-danh-cho-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-voi-ngoai-le-cua-to-chuc-tin-dung-scaled.jpg 2560w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Phan-biet-ngoai-le-danh-cho-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-voi-ngoai-le-cua-to-chuc-tin-dung-300x169.jpg 300w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Phan-biet-ngoai-le-danh-cho-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-voi-ngoai-le-cua-to-chuc-tin-dung-1024x576.jpg 1024w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Phan-biet-ngoai-le-danh-cho-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-voi-ngoai-le-cua-to-chuc-tin-dung-768x432.jpg 768w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Phan-biet-ngoai-le-danh-cho-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-voi-ngoai-le-cua-to-chuc-tin-dung-1536x864.jpg 1536w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Phan-biet-ngoai-le-danh-cho-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-voi-ngoai-le-cua-to-chuc-tin-dung-2048x1152.jpg 2048w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Phan-biet-ngoai-le-danh-cho-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-voi-ngoai-le-cua-to-chuc-tin-dung-18x10.jpg 18w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><figcaption id=\"caption-attachment-5139\" class=\"wp-caption-text\">Distinguishing the exceptions for state-owned debt trading and resolution organizations 100% capital from the exceptions for credit institutions.<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">One common misconception is that all three points are about &quot;not participating in management, control, capital contribution, or investment.&quot; However, there are two fundamental differences:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Regarding the subject:<\/b><span style=\"font-weight: 400;\"> Points d.1 and d.2 apply to <\/span><b>credit institution<\/b><span style=\"font-weight: 400;\"> operating according to <\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/vanban.chinhphu.vn\/?pageid=27160&amp;docid=211190&amp;classid=1&amp;typegroupid=3\" rel=\"nofollow noopener\" target=\"_blank\">Law on Credit Institutions No. 32\/2024\/QH15<\/a><\/span><\/strong><span style=\"font-weight: 400;\">; and point d.3 applies specifically to <\/span><b>State-owned organization with charter capital of 100% has the function of buying, selling, and handling debt.<\/b><span style=\"font-weight: 400;\">, This group of entities is not necessarily a credit institution; it could be an asset management company or a specialized debt trading company.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Regarding the scope of the criteria for comparison:<\/b><span style=\"font-weight: 400;\"> Point d.1 excludes according to points a, c, d, e, g, h, k, l, m of Clause 2, Article 5 (broad scope); d.2 excludes according to points b, e, i (cases where both are under the management of a third party); and d.3 excludes only according to <\/span><b>points a and c<\/b><span style=\"font-weight: 400;\">, That is, it is only necessary to prove that the state-owned debt trading and resolution organization does not hold capital contributions or controlling shares according to these two criteria; the scope of comparison is narrower and more specific than in d.1.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">This difference in the scope of the comparison criteria has important practical implications: When businesses prepare supporting documents, they cannot mechanically apply the criteria of d.1 to case d.3, because the two provisions refer to different points of clause 2 of Article 5. This is also why many businesses should refer to the systematic article on<\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/moi-quan-he-lien-ket-theo-nghi-dinh-255\/\"> The relationship under Decree 255<\/a><\/span><\/strong><span style=\"font-weight: 400;\"> To fully compare all points a to m of Clause 2, Article 5 before drawing a conclusion.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Vi_du_thuc_te_ap_dung_quy_dinh_ve_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu\"><\/span><b>A practical example of applying regulations on the organization of buying, selling, and handling state-owned debt.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Assume: Company B is a manufacturing enterprise with medium-term debt at a commercial bank. Due to financial difficulties, this debt is sold by the bank to a state-owned debt trading company with 100% of charter capital, whose function is to buy, sell, and handle bad debts according to legal regulations. After the debt trading transaction, Company B&#039;s outstanding debt with this state-owned debt trading and handling organization accounts for 60% of the company&#039;s total medium and long-term debt, corresponding to 30% of owner&#039;s equity, thus reaching both thresholds of 25% and 50% mentioned in point d.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">If we only consider the general principle, Company B would be considered to have an affiliated relationship with this state-owned debt trading and resolution organization. However, because that organization simultaneously satisfies the three conditions mentioned \u2013 owning state capital, having the function of buying and selling and resolving debt, and not participating in the management, control, capital contribution, or investment in Company B as per points a and c \u2013 the relationship arises solely from the acquired debt. <\/span><b>Are not<\/b><span style=\"font-weight: 400;\"> This is identified as a related party relationship under point d. Company B is not required to declare related party transactions for this debt specifically, unless the company incurs other related party relationships under the remaining points of Clause 2, Article 5.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Conversely, if the state-owned debt trading and processing organization simultaneously appoints a representative to the Board of Directors or contributes additional share capital to Company B exceeding 25%, the third condition is no longer satisfied, and the affiliation under point a will be established independently of the debt trading activities.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Ho_so_chung_minh_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von_khong_phai_ben_lien_ket\"><\/span><b>Documentation proving that the debt trading and processing organization 100% is state-owned and not an affiliated party.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure id=\"attachment_5138\" aria-describedby=\"caption-attachment-5138\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5138\" src=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Ho-so-chung-minh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-khong-phai-ben-lien-ket-scaled.jpg\" alt=\"H\u1ed3 s\u01a1 ch\u1ee9ng minh t\u1ed5 ch\u1ee9c mua b\u00e1n v\u00e0 x\u1eed l\u00fd n\u1ee3 do Nh\u00e0 n\u01b0\u1edbc s\u1edf h\u1eefu 100% v\u1ed1n kh\u00f4ng ph\u1ea3i b\u00ean li\u00ean k\u1ebft\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Ho-so-chung-minh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-khong-phai-ben-lien-ket-scaled.jpg 2560w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Ho-so-chung-minh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-khong-phai-ben-lien-ket-300x169.jpg 300w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Ho-so-chung-minh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-khong-phai-ben-lien-ket-1024x576.jpg 1024w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Ho-so-chung-minh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-khong-phai-ben-lien-ket-768x432.jpg 768w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Ho-so-chung-minh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-khong-phai-ben-lien-ket-1536x864.jpg 1536w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Ho-so-chung-minh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-khong-phai-ben-lien-ket-2048x1152.jpg 2048w, https:\/\/giaodichlienket.man.net.vn\/wp-content\/uploads\/2026\/09\/Ho-so-chung-minh-to-chuc-mua-ban-va-xu-ly-no-do-Nha-nuoc-so-huu-100-von-khong-phai-ben-lien-ket-18x10.jpg 18w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><figcaption id=\"caption-attachment-5138\" class=\"wp-caption-text\">Documentation proving that the debt trading and processing organization 100% is state-owned and not an affiliated party.<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">To invoke the exception at point d.3, businesses need to prepare the following documents for explanation during tax audits and inspections:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Documents, debt purchase and sale contracts<\/b><span style=\"font-weight: 400;\"> Confirm that the debtor is a state-owned organization with 100% charter capital, accompanied by a business registration certificate or establishment decision showing the percentage of state ownership.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Documents proving the function of buying, selling, and handling debt.<\/b><span style=\"font-weight: 400;\"> of that organization according to its operating license or company charter.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>List of shareholders, capital contributors, members of the Board of Directors or Board of Members<\/b><span style=\"font-weight: 400;\"> of the debtor enterprise at the time the transaction occurred, to prove that the state-owned debt trading and processing organization does not hold capital contributions of 25% or more and is not the largest shareholder holding 10% or more shares.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Statement of outstanding debt<\/b><span style=\"font-weight: 400;\"> This shows the ratio between debt and equity, and with the total outstanding medium and long-term debt, as a basis for comparing the threshold of 25%\/50% at point d.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Written review conclusions<\/b><span style=\"font-weight: 400;\"> Regarding whether or not the business has an affiliation with a state-owned debt trading and processing organization, this information should be included in the corporate income tax return for the relevant period.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">For businesses with complex ownership structures or multiple debts handled through various organizations, self-auditing can easily overlook indirect factors. This is where businesses should consider using professional auditing services.<\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/giaodichlienket.man.net.vn\/en\/dich-vu-tu-van-giao-dich-lien-ket\/\"> related party transaction advisory services<\/a><\/span><\/strong><span style=\"font-weight: 400;\"> To be subject to independent review before any official conclusions are reached.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Ket_luan\"><\/span><b>Conclude<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The regulations on the organization of the purchase and handling of state-owned debt at point d.3, clause 2, Article 5 of Decree 255\/2026\/ND-CP are a conditional exception, not an automatic exemption. Three conditions need to be noted:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Owned by the state in 100%.;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It has the function of buying, selling, and managing debt.;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">And they do not participate in management, control, capital contribution, or investment.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">All three conditions must be met simultaneously for the relationship arising from the buying, selling, and guaranteeing of debt not to be considered an affiliated relationship.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Businesses with debts processed through state-owned debt trading and resolution organizations should proactively review and retain supporting documents from the moment the transaction occurs, instead of waiting until tax inspectors ask questions.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">If businesses are still unsure about determining the related-party relationship in their specific case, MAN \u2013 Master Accountant Network&#039;s team of related-party transaction experts is ready to assist in reviewing and completing the documentation before the tax settlement period.<\/span><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/giaodichlienket.man.net.vn\/en\/lien-he\/\"><span style=\"font-weight: 400;\"><strong><span style=\"color: #0000ff;\">Contact MAN \u2013 Master Accountant Network<\/span><\/strong><\/span><\/a><span style=\"font-weight: 400;\"> For free support and advice!<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Thong_tin_lien_he_MAN_%E2%80%93_Master_Accountant_Network\"><\/span><b>Contact information MAN \u2013 Master Accountant Network<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Address:<\/b><span style=\"font-weight: 400;\"> No. 19A, Street 43, Tan Thuan Ward, Ho Chi Minh City<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Mobile\/Zalo:<\/b><span style=\"font-weight: 400;\"> 0903 963 163 \u2013 0903 428 622<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>E-mail:<\/b><span style=\"font-weight: 400;\"> man@man.net.vn<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Google Business Profile:<\/b> <strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/share.google\/EmihzHg354pCASC9k\" rel=\"nofollow noopener\" target=\"_blank\">View MAN \u2013 Master Accountant Network&#039;s Google Business Profile\u00a0<\/a><\/span><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>LinkedIn Founder:<\/b> <a href=\"https:\/\/www.linkedin.com\/in\/tuy%C3%AAn-l%C3%AA-ho%C3%A0ng-65292aa0\/\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\"><strong><span style=\"color: #0000ff;\">View expert Le Hoang Tuyen&#039;s LinkedIn profile.<\/span><\/strong>\u00a0<\/span><\/a><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Responsible for production and professional content review by: Mr. <\/span><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/man.net.vn\/le-hoang-tuyen\/\" rel=\"nofollow noopener\" target=\"_blank\">Le Hoang Tuyen \u2013 Founder &amp; CEO of MAN \u2013 Master Accountant Network<\/a><\/span><\/strong><span style=\"font-weight: 400;\">. He is a CPA Vietnam auditor with over 30 years of in-depth experience in accounting, auditing, taxation, and corporate legal consulting.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Cau_hoi_thuong_gap_ve_truong_hop_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von\"><\/span><b>Frequently Asked Questions Regarding the Case of Organizations Buying and Handling State-Owned Debt 100% Capital<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"To_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_100_von_la_gi_theo_Nghi_dinh_2552026ND-CP\"><\/span><b>What is the purpose of the State-owned debt trading and resolution organization 100% according to Decree 255\/2026\/ND-CP?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">This is a state-owned organization with 100% charter capital, whose function is to buy, sell, and process debt. As stated in point d.3, clause 2, Article 5 of Decree 255\/2026\/ND-CP, it is one of three groups of entities excluded from the category of affiliated parties when lending or guaranteeing, if they meet the necessary conditions.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Dieu_kien_nao_de_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_khong_bi_coi_la_ben_lien_ket\"><\/span><b>What conditions must be met for an organization involved in the purchase and handling of state-owned debt not to be considered an affiliated party?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Three conditions must be met simultaneously: owning 100% of state-owned charter capital; having the function of buying, selling, and handling debt; and not directly or indirectly participating in the management, control, capital contribution, or investment in the debtor enterprise or the guaranteed enterprise as specified in points a and c of Clause 2, Article 5.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Ngoai_le_danh_cho_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_co_giong_ngoai_le_cua_to_chuc_tin_dung_khong\"><\/span><b>Are the exceptions for state-owned debt trading and resolution organizations the same as those for credit institutions?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Not entirely. The exceptions in points d.1 and d.2 apply to credit institutions under the Law on Credit Institutions No. 32\/2024\/QH15 with a broader scope of criteria for comparison (many points of Clause 2, Article 5); while the exception in point d.3 is specifically for state-owned debt trading and processing organizations, only comparing with points a and c.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Neu_khoan_no_dat_nguong_25_von_gop_va_50_tong_du_no_trung_dai_han_doanh_nghiep_co_luon_phai_ke_khai_giao_dich_lien_ket_khong\"><\/span><b>If the debt reaches 25% of contributed capital and 50% of total medium and long-term debt, is the business always required to declare related-party transactions?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">No. If the creditor or guarantor is a state-owned debt trading and processing organization and meets all three conditions in point d.3, the relationship arising from that loan or guarantee alone is not considered a related party relationship, even if it meets both the 25% and 50% thresholds.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Doanh_nghiep_can_luu_nhung_tai_lieu_gi_de_chung_minh_khong_co_quan_he_lien_ket_voi_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu\"><\/span><b>What documents do businesses need to keep to prove they have no affiliation with state-owned debt trading and resolution organizations?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Businesses need to retain the debt purchase and sale contract, documents proving the percentage of state ownership and the organization&#039;s function in buying, selling, and handling debt, a list of shareholders or contributing members at the time of the transaction, a statement of outstanding debt against the 25% or 50% threshold, and a written review conclusion.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Neu_to_chuc_mua_ban_va_xu_ly_no_do_Nha_nuoc_so_huu_sau_do_gop_von_vao_doanh_nghiep_ben_no_thi_sao\"><\/span><b>What if an organization that buys and handles state-owned debt then invests capital in the debtor company?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In that case, the third condition at point d.3 is no longer satisfied, and the affiliation can be established independently according to point a or point c of Clause 2, Article 5, depending on the proportion of capital contribution or shares held.<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>T\u1ed5 ch\u1ee9c mua b\u00e1n v\u00e0 x\u1eed l\u00fd n\u1ee3 do Nh\u00e0 n\u01b0\u1edbc s\u1edf h\u1eefu 100% v\u1ed1n l\u00e0 ch\u1ee7 th\u1ec3 xu\u1ea5t hi\u1ec7n ng\u00e0y c\u00e0ng nhi\u1ec1u trong c\u00e1c giao d\u1ecbch t\u00e1i c\u01a1 c\u1ea5u n\u1ee3 nh\u01b0ng kh\u00f4ng ph\u1ea3i k\u1ebf to\u00e1n tr\u01b0\u1edfng n\u00e0o c\u0169ng n\u1eafm r\u00f5 khi n\u00e0o kho\u1ea3n n\u1ee3 \u0111\u01b0\u1ee3c b\u00e1n, x\u1eed l\u00fd qua nh\u00f3m t\u1ed5 ch\u1ee9c n\u00e0y s\u1ebd [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":5137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"_links":{"self":[{"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/posts\/5136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/comments?post=5136"}],"version-history":[{"count":1,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/posts\/5136\/revisions"}],"predecessor-version":[{"id":5141,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/posts\/5136\/revisions\/5141"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/media\/5137"}],"wp:attachment":[{"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/media?parent=5136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/categories?post=5136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/giaodichlienket.man.net.vn\/en\/wp-json\/wp\/v2\/tags?post=5136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}