From March 1, 2025: State agencies to be merged into the Ministry of Finance of Vietnam

From March 1, 2025: State agencies to be merged into the Ministry of Finance of Vietnam

Pursuant to Article 3 of Decree 29/2025/ND-CP, it stipulates the organizational structure of the Ministry of Finance after the merger from March 1, 2025, which includes 35 units as follows:

(1) 30 administrative organizations assisting the Minister in performing state management functions, including:

- Department of National Economic Aggregate;

- Department of State Budget;

- Department of Investment;

- Department of Financial - Economic Sector;

- Department of National Defense, Security, Special (Department I);

- Department of Local and Territorial Economy;

- Department of Planning Management;

- Department of Financial Institutions;

- Department of Personnel Organization;

- Department of Legal Affairs;

- Department of Debt Management and External Economics;

- Department of Public Property Management;

- Department of Procurement Management;

- Department of Tax, Fee, and Charge Policy Management and Supervision;

- Department of Insurance Management and Supervision;

- Department of Accounting and Auditing Management and Supervision;

- Department of Price Management;

- Department of State-Owned Enterprise Development;

- Department of Private Enterprise Development and Collective Economy;

- Department of Foreign Investment;

- Department of Financial Planning;

- Department of Information Technology and Digital Transformation;

- Tax Department;

- Customs Department;

- State Reserve Department;

- Statistics Department;

- Inspectorate;

- Office;

- State Treasury;

- State Securities Commission.

(2) 4 public service providers, including:

+ Institute of Economic and Financial Policy Strategies;

+ Finance and Investment Newspaper;

+ Journal of Economics - Finance.

+ Academy of Policy and Development;

(3) 01 special unit under the Ministry of Finance: Vietnam Social Security

In Detail:

- The Department of National Economic Aggregate has 03 divisions; the Department of State Budget has 04 divisions; the Department of Investment has 04 divisions; the Department of Financial - Economic Sector has 04 divisions; the Department of Local and Territorial Economy has 04 divisions; the Department of Financial Institutions has 04 divisions; the Department of Personnel Organization has 06 divisions; the Department of Legal Affairs has 04 divisions.

- The Tax Department is structured and operates on 03 levels: Tax Department (12 units); 20 Regional Tax Sub-departments; 350 Inter-district Tax Teams. The Customs Department is structured and operates on 03 levels: Customs Department (12 units); 20 Regional Customs Sub-departments; 165 Border/Off-border Customs Offices. The State Reserve Department is structured and operates on 02 levels: State Reserve Department (07 units); 15 Regional State Reserve Sub-departments (total not exceeding 171 storage points).

- The Statistics Department is structured and operates on 03 levels: Statistics Department (14 units); 63 Statistics Sub-departments; 480 Inter-district Statistics Teams.

- The State Treasury is structured and operates on 02 levels: State Treasury (10 units); 20 Regional State Treasuries (total not exceeding 350 Transaction Offices).

- Vietnam Social Security is structured and operates on 03 levels: Vietnam Social Security (14 units); 35 Regional Social Insurances; 350 Inter-district Social Insurances.

The Tax Department, Customs Department, State Reserve Department, Statistics Department, State Treasury, State Securities Commission, Vietnam Social Security have seals with the National Emblem. The Minister of Finance stipulates the functions, tasks, powers, and organizational structure of the organizations, units under the Ministry of Finance; specifies the number of advisory and supporting units of the Sub-department and equivalent under the Department and equivalent under the ministry; submits to the Prime Minister of the Government of Vietnam the list of other public service providers under the ministry.

Previously, under Decree 14/2023/ND-CP, the organizational structure of the Ministry of Finance had only 28 organizations, units. Thus, it can be seen that some organizations, units have been merged into the Ministry of Finance.

Following is the comparative table of the organizational structure of the Ministry of Finance before and after March 1, 2025, specifically as follows:

Based on the comparative table of the organizational structure of the Ministry of Finance before and after March 1, 2025, it is evident that several agencies have been merged into the Ministry of Finance. Specifically:

- Department of National Economic Aggregate (newly added).

- Department of Investment (split from the former Investment Finance Department).

- Department of National Defense, Security, Special (formerly the Department of National Defense, Security Finance, Special).

- Department of Financial Institutions (newly added).

- New Management and Supervision Departments:

+ Department of Tax, Fee, and Charge Policy Management and Supervision.

+ Department of Insurance Management and Supervision.

+ Department of Price Management.

+ Department of Accounting and Auditing Management and Supervision.

- Department of State-Owned Enterprise Development and Collective Economy (merging functions from related units).

- Department of Information Technology and Digital Transformation (either newly established or merged from a related unit).

- Academy of Policy and Development (formerly not under the Ministry of Finance).

- Vietnam Social Security (possibly transferred to be directly under the Ministry of Finance).

These changes reflect the adjustment and restructuring of the organization to enhance the efficiency of public financial management and add agencies aligned with modern economic development trends.

From March 1, 2025: State agencies to be merged into the Ministry of Finance of Vietnam (Image from the Internet)

What is the time limit for reorganization of Ministry of Finance of Vietnam?

According to Article 4 of Decree 29/2025/ND-CP, there are transition provisions as follows:

Transitional Provisions

The Minister of Finance is responsible for organizing and arranging the Tax Department, Customs Department, State Reserve Department, Statistics Department, State Treasury, State Securities Commission, Vietnam Social Security to operate according to the new model within a maximum period of 03 months from the effective date of this Decree.

Thus, the Minister of Finance is responsible for organizing and arranging the Tax Department, Customs Department, State Reserve Department, Statistics Department, State Treasury, State Securities Commission, Vietnam Social Security to operate according to the new model within a maximum period of 03 months from March 1, 2025.

What are tasks and powers of the Ministry of Finance of Vietnam regarding taxes, fees, charges, and other state budget revenue from March 1, 2025?

Pursuant to Clause 9, Article 4 of Decree 29/2025/ND-CP, the tasks and powers of the Ministry of Finance regarding taxes, fees, charges, and other state budget revenue are specified as follows:

- Presiding over, cooperating with relevant agencies in constructing, submitting for competent authority's issuance, and guiding, inspecting the implementation of legal documents on taxes, fees, charges, and other state budget revenues;

- Unifying management, directing, inspecting the organization of tax, fee, charge collection and other state budget revenue according to the law by tax agencies, customs, and other agencies assigned by the state to collect fees, charges, or other state budget revenue;

- Deciding under its authority or submitting to the competent authority to decide on exemption, reduction, refund, recovery, debt write-off, extension of late payment, tax penalty, fees, charges, and other state budget revenues as prescribed by law and issues arising during the implementation of bilateral or multilateral international agreements or treaties on taxes, fees, charges, and other state budget revenues;

- Issuing regulations on procedures, processes of collection, payment of taxes, fees, charges, and other state budget revenues as prescribed by law; guiding operations: Declaring, calculating, paying taxes, fees, charges, and other state budget revenues and other related operations;

- Inspecting, controlling state budget revenue sources, complying with laws on collecting, paying the state budget, and handling breaches of laws on taxes, fees, charges, and other state budget revenues under its authority as prescribed by law;

- Assessing the suitability of tax policy, fees, charges, and other state budget revenue to other current mechanisms, policies and socio-economic conditions in each period for adjustment, modification, supplement under its authority or proposing competent agencies promptly adjust, modify, supplement.