The order of implementation of interest rate support in Vietnam by the Bank for Social Policy on fiscal and monetary policies? How long does it take to appraise the settlement?
- What is the order of implementation of interest rate support in Vietnam from the state budget to the Bank for Social Policies every year?
- Time to perform the appraisal of the settlement of interest rate support in Vietnam every year How long?
- What is the time for notification of appraisal of the annual interest rate support settlement?
What is the order of implementation of interest rate support in Vietnam from the state budget to the Bank for Social Policies every year?
Pursuant to Article 7 Decree 36/2022/ND-CP stipulating the order of implementation of interest rate support in Vietnam from the state budget to the Bank for Social Policies annually, fiscal and monetary policies to support the recovery program and socio-economic development are as follows:
"Article 7. Order of implementation of interest rate support from the state budget to the Bank for Social Policies annually
1. Prepare and assign state budget estimates for implementation interest rate support:
a) The preparation of the state budget estimate for the implementation of interest rate support shall comply with the provisions of the Law on State Budget, the Law on Public Investment, Resolution No. 43/2022/QH15, regulations. in this Decree and relevant legal documents;
b) The Bank for Social Policies summarizes the plan on interest rate support for each year 2022 and 2023 and sends it to the Ministry of Planning and Investment and the Ministry of Finance;
c) Based on the general plan of the Bank for Social Policies at Point b of this Clause, the Ministry of Planning and Investment shall assume the prime responsibility for reporting to the Government for submission to the National Assembly Standing Committee for permission to supplement the development investment expenditure estimate. ng state budget funds to support interest rates in 2022 and synthesize and arrange them in the state budget estimate in 2023 to submit to the National Assembly for decision;
d) Pursuant to the Resolution of the National Assembly Standing Committee supplementing the 2022 estimate, the Prime Minister shall decide to allocate capital from the central budget to supplement the 2022 public investment plan to the Bank for Social Policies. The assignment of public investment plans in 2023 shall comply with current regulations;
dd) Within the scope of the annual public investment plan assigned by the Prime Minister, the Bank for Social Policies shall allocate the interest rate support limit to the branches of the Bank for Social Policies. During the implementation process, VBSP adjusts the limit between branches of VBSP if necessary, ensuring the total interest rate support limit for VBSP branches. Association does not exceed the annual interest rate support plan assigned by the competent authority.
2. Implementation of state budget estimates for annual interest rate support:
a) Before the 10th of the first month of each quarter, the Bank for Social Policies shall send to the Ministry of Finance a dossier of request for advance payment of the supported amount. The interest rate subsidy prescribed in this Decree of the preceding quarter, including:
- A written request for prepayment of the interest rate support amount, clearly stating the amount supported by the Social Policy Bank. interest rate for customers in the preceding quarter, the amount proposed for prepayment is equal to 85% of the amount that the Bank for Social Policies has supported interest rates for customers in the preceding quarter, the Bank's receiving account Social policies;
- Report on the implementation of interest rate support of the preceding quarter using the form in Appendix I issued with this Decree.
b) Within 15 working days from the date of receipt of a complete application file from the Bank for Social Policies, the Ministry of Finance shall make an advance payment to the Social Policy Bank for the amount of interest rate support according to the provisions of this Circular. specified at Point a of this Clause in the form of a payment order and notify the Bank for Social Policies for coordination in implementation.
c) The total amount of advance payment to the Bank for Social Policies as prescribed at Point b of this Clause during the implementation and disbursement of the annual public investment plan must not exceed the estimated amount assigned in the period of implementation and disbursement. five. By January 31, 2023, if the 2022 interest rate support estimate has not been used up, the source will be transferred to 2023 to continue implementing the interest rate support in accordance with the law.
3. Finalization and approval of the annual settlement of interest rate support:
a) The Social Policy Bank branch is responsible for making the annual settlement of interest rate support and making the dossier for the settlement of interest rate support deposit Bank for Social Policies (Headquarters) before February 10 of the year following the settlement year to consider and approve the settlement. Loans eligible for interest rate support in the finalization dossier must ensure the right subjects and fully satisfy the conditions for interest rate support as prescribed in this Decree.
b) The final settlement amount of interest rate support is determined as follows:
- The actual payment of interest rate support amount for a disbursement is calculated by the formula:
Where: - L is the interest rate support amount actual payment for a disbursement;
- is the sum of the products between the outstanding balance and the actual number of days the loan is interest-supported for the disbursement;
- The actual interest rate support amount paid for a loan is the total amount of interest support actually paid for all disbursements disbursed during the interest support implementation period of that loan. ;
- The total amount of actual interest rate support proposed to be paid by the state budget is the total amount of interest support actually paid for all loans that fully meet the conditions for interest support from the state budget. rate specified in this Decree.
c) The Social Policy Bank shall review and approve the settlements for the branches of the Bank for Social Policies and prepare a consolidated report on the actual settlement of interest rate support in the settlement year according to the form in Appendix II issued. attached to this Decree shall be sent to the State Audit Office of Vietnam for audit according to the provisions of Clause 3, Article 7 of Resolution No. 43/2022/QH15 and relevant legal documents.
d) Before October 1 of the year following the settlement year, the Bank for Social Policies shall compile a dossier of request for settlement appraisal and send it to the Ministry of Finance for settlement appraisal. Dossier of request for appraisal of interest rate support settlement to be sent to the Ministry of Finance include: Official letter requesting appraisal of interest rate support settlement; general report on settlement of interest rate support (according to audited data); announce the audit results of the State Audit on interest rate support in the year of settlement at the Bank for Social Policies (copy)."
The order of implementation of interest rate support in Vietnam by the Bank for Social Policy on fiscal and monetary policies? How long does it take to appraise the settlement?
Time to perform the appraisal of the settlement of interest rate support in Vietnam every year How long?
Based on Article 7 Decree 36/2022/ND-CP stipulating the order of implementation of interest rate support in Vietnam from the state budget to the Bank for Social Policies annually as follows:
- Within 10 working days from the datereceive the application for appraisal of the interest rate support settlement of the Bank for Social Policies; The Ministry of Finance shall check the completeness and validity and request additional documents if they are incomplete as prescribed in Point d Clause 3 of this Article.
- After receiving a complete application for appraisal of the settlement of interest rate support from the Bank for Social Policies, the Ministry of Finance shall appraise the general report on the settlement of interest rate support according to the following contents:
- Check the assigned interest rate support expenditure estimate in the year, ensuring that it matches the estimate assigned by the competent authority (including the estimate assigned at the beginning of the year, the additional and adjusted estimate during the year);
- Check the amount of money the state budget has paid in advance;
- Check to ensure that the total amount requested by the Social Policy Bank to be paid by the state budget for interest rate support in the year has been adjusted according to the conclusions of the State Audit;
- Check the amount of money the state budget has paid in advance to the Bank for Social Policies in excess or insufficient compared with the appraised amount (if any);
- Other contents and comments (if any).
What is the time for notification of appraisal of the annual interest rate support settlement?
Pursuant to Article 7 Decree 36/2022/ND-CP stipulating the order of implementation of interest rate support from the state budget to the Bank for Social Policies annually as follows:
- Within 30 working days from the date of full receipt application file for appraisal of the interest rate support settlement of the Bank for Social Policies, based on the appraisal results of the interest rate support settlement specified at Point a of this Clause, the Ministry of Finance shall issue a notice on appraisal of the interest rate support settlement. The interest rate support will be sent to the Social Policy Bank to notify the following data:
- The amount of interest subsidy paid by the Social Policy Bank by the state budget in the year on the basis of audited data of State audit, in which the data included in the state budget finalization according to the budget year is the amount paid by the state budget to the Bank for Social Policies from January 1 of the budget year to the end of the budget year. January 31, 2023 for interest rate supports in 2022 and until the end of January 31, 2024 for interest rate supports in 2023;
- The amount of state budget remaining to be paid to the Bank for Social Policies, either recovered, or deducted from the next year's payment amount. In case the amount paid in advance in the year is lower than the number of appraisal notices, the difference will be further paid; in case the amount paid in advance in the year is higher than the number of appraisal notices, the difference will be recovered, or deducted from the interest support payment amount of the following year.
LawNet