Regulations on Management of Cash Receipts and Expenditures through the State Treasury System

According to the Circular, for cash revenue to the State budget arising at the State Treasury, the current regulations will apply. In case of cash revenue to the budget arising at transaction units, the unit is responsible for depositing the cash collected into the State Treasury account or the State Treasury account opened at commercial banks.

For other revenues arising at the State Treasury, the payer shall create a voucher to deposit the money into their account at the State Treasury.

The Circular permits the public service providers engaged in service activities and collecting fees in cash to retain a portion or the entire amount by opening a dedicated account at a commercial bank and to authorize the commercial bank to collect on their behalf.

The Circular stipulates that the State Treasury may make the following payments in cash:

- Payments for personal expenses such as salaries, wages, allowances; scholarships for students; payments related to people with meritorious services to the revolution and society; payment of pensions and social allowances.

- Payments directly to the public for site clearance; construction expenses for projects executed by the commune residents; purchases of supplies exploited and supplied by the people as approved by local authorities and investors.

- Payments for certain tasks of units under the Ministry of National Defense, the Ministry of Public Security, and the Cipher Committee of the Government of Vietnam.

- Repaying public debts.

- Purchasing reserves food and other expenses detailed in Circular No. 13.

Budget-using units that need to withdraw cash once or multiple times a day exceeding the following limits must register one day in advance for the State Treasury to prepare:

- From 200 million VND or more for budget-using units transacting with provincial-level Treasury;

- From 100 million VND or more for budget-using units transacting with district-level Treasury.

The budget-using unit can register to withdraw cash for single or multiple days through the following forms: Register by written document with the State Treasury; register by phone with State Treasury officers, or register for withdrawal on the State Treasury's Information Portal.

Moreover, the Circular stipulates that transaction units do not have to pay fees when carrying out collections and disbursements at the State Treasury, when depositing or withdrawing cash from the unit's account at the Treasury.

Circular 13/2017/TT-BTC takes effect from April 1, 2017.

Source: Financial Magazine

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