Amendment to the Time for Finalizing Annual State Budget Revenue and Expenditure Settlement Reports

09:30, 10/07/2024

Recently, the Ministry of Finance issued Circular 19/2020/TT-BTC amending and supplementing a number of articles of Circular 77/2017/TT-BTC guiding the Accounting Regime for the State Budget and the operational activities of the State Treasury.

From May 15, 2020, the timeline for closing the annual financial reporting of revenue and expenditure of the State Budget has been divided into three phases (Currently, Circular 77 stipulates only two phases), specifically:

- Closing data by the end of the adjustment period for final accounts: Data is collected until January 31 of the following year. The report is stored in both file and paper formats at the State Treasury unit where the report is made;- Closing data for fund transfers: Data is collected until March 31 of the following year. The report is stored in both file and paper formats at the State Treasury unit where the report is made;- Final closing data for the final accounts: Data is collected until November 30 of the following year. The report is stored in both file and paper formats at the State Treasury unit where the report is made. If there are adjustments to the previous year's final accounts data after November 30 as decided by a competent authority, an explanation must be provided.

More details can be found in: Circular 19/2020/TT-BTC effective from May 15, 2020.

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