Vietnam’s new regulation on the time limit for submission of annual budget statements

According to Circular No. 137/2017/TT-BTC of the Ministry of Finance of Vietnam, time limit for submission of annual budget statements is prescribed as follows:

- The Level I budgetary unit shall prescribe a time limit for statement submission by their affiliated budgetary units but such statements must be sent to the finance authority of the same level within the time limit specified in Clause 3 and 4 this Article.

- Provincial People’s Council shall specify time limit for statement submission by People’s Committees to agencies specified in Clause 2 and 3 Article 69 of the Law on State Budget.

- Provincial People's Committees shall specify a deadline for submission of state budget statements made by local budgetary units suitable for the time limit for preparation of budget statements of local government budget specified in Article 69 of the Law on State Budget and Article 44 of Decree No. 163/2016/ND-CP of Vietnam’s Government.

- Level I central budgetary units shall send 2 copies of annual statement to the Ministry of Finance and one copy to the State Audit Office of Vietnam before October 01 of the following year.

- Provincial People’s Committees shall send 2 copies of annual statement to the Ministry of Finance and one copy to the State Audit Office of Vietnam before October 01 of the following year. Provincial People's Committees shall send a Resolution on approval for statements by provincial People’s Councils to the Ministry of Finance and State Audit Office of Vietnam within 5 working days from the day on which the statement is approved.

View more details at Circular No. 137/2017/TT-BTC of the Ministry of Finance of Vietnam. effective from February 10, 2018.

- Thanh Lam -

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