Measures for Cost Management in Registration Activities

17:16, 11/07/2024

The Ministry of Finance promulgates Circular 49/2018/TT-BTC to replace Joint Circular 55/2014/TTLT-BTC-BGTVT, guiding the financial management mechanism for the Vietnam Register.

According to Circular 49, the Vietnam Register has the responsibility to manage costs to increase profits through the following measures:

- Develop, promulgate, and organize the implementation of economic-technical norms suitable to the economic-technical characteristics, management organization model, and equipment level of the Vietnam Register. The norms must be disseminated to the implementers, publicly announced to all staff and employees in the Vietnam Register for implementation, inspection, and supervision.- In case the norms cannot be met, resulting in increased costs, the reasons and responsibilities must be clearly analyzed for handling according to the provisions of the law. If due to subjective reasons, compensation for damages must be made according to the provisions of the law.- Periodically organize cost analyses to detect weaknesses in management and factors leading to increased costs to have solutions to promptly rectify.- In the event of an increase in workload leading to costs exceeding 15% compared to the assigned financial plan, the Vietnam Register must report to the Ministry of Transport for consideration and adjustment of the expense plan.

See more regulations on profit distribution at Circular 49/2018/TT-BTC effective from July 06, 2018.

- Thanh Lam -

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