05 Principles of Control and Payment through the State Treasury

Nguyen Trinh

14:33, 10/07/2024

Recently, the Ministry of Finance issued Circular 62/2020/TT-BTC providing guidance on controlling and paying regular expenditures from the State Budget through the State Treasury.

The control and payment of regular expenditures from the State Budget through the State Treasury must ensure the following principles:

- State Budget expenditures must meet the conditions for State Budget expenditures as stipulated in Article 2 of Circular 62;- State Budget expenditures are made on the principle of direct payment from the State Treasury to the beneficiaries of wages, allowances, subsidies, and suppliers of goods and services. In cases where certain expenditures do not yet meet the conditions for direct payment from the State Treasury, the budget-using unit is allowed to advance funds to actively spend according to the assigned estimate, and then the unit will settle payments with the State Treasury in accordance with Article 7 of Circular 62;- State Budget expenditures are accounted for in Vietnamese Dong. In cases where State Budget revenues and expenditures are in foreign currency, they shall be converted into Vietnamese Dong at the exchange rate stipulated by the competent authority for accounting of State Budget revenues and expenditures at the time of occurrence;- ...

See a full list of the principles at Circular 62/2020/TT-BTC effective from August 6, 2020.

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