What are the contents of classifying the state budget table of contents by the state budget in Vietnam?
- What are the contents of classifying the state budget table of contents by the state budget in Vietnam?
- What are the principles of state budget accounting according to the state budget level in Vietnam?
- What are the regulations for classifying the state budget table of contents by section and subsection in Vietnam?
What are the contents of classifying the state budget table of contents by the state budget in Vietnam?
Pursuant to Clause 1, Article 6 of Circular 324/2016/TT-BTC as follows:
Classification of the state budget table of contents by state budget
1. Contents of classification:
The state budget is a source determined on the basis of estimates assigned by the Prime Minister and the Chairman of the People's Committees to the estimating unit (including supplements or recoveries during the budget administration) in accordance with the Law on State Budget, classified based on the origin of formation, including domestic and foreign sources:
a) Foreign sources are foreign capital sources that are financed by specific contents and addresses based on foreign donor and lender commitments signed with competent Vietnamese agencies.
b) Domestic sources are the remaining sources of capital, including foreign capital sources not financed by specific use contents and addresses that are considered domestic capital sources and accounted for according to domestic source codes.
2. Encrypt classified contents
The state budget is encoded in 2 characters, of which:
Domestic capital: Code 01
Foreign capital: Code 50
The detailed codes of domestic capital codes and foreign capital codes specified in the state accounting regime apply to the Treasury Management and Management Information System (TABMIS).
3. Accounting principles
Regular expenditures are accounted for using the source of funding code for domestic source codes, while investment expenditures are accounted for using the investment capital code. The Ministry of Finance adds to the list and provides specific guidance for cases of detailed accounting for each source of investment capital, which occurs on a regular basis in the state budget accounting regime.
Thus, the contents of Vietnam's state budget table of contents include the following:
- Foreign sources are foreign capital sources that are financed by specific use contents and addresses based on foreign donor and lender commitments signed with competent Vietnamese agencies.
- Domestic sources are the remaining sources of capital, including foreign capital sources not financed by specific use contents and addresses that are considered domestic capital sources and accounted for according to domestic source codes.
What are the principles of state budget accounting according to the state budget level in Vietnam?
Pursuant to Clause 3 and Article 7 of Circular 324/2016/TT-BTC, the principles of state budget accounting according to the state budget level in Vietnam are:
- For state budget revenue, the unit that pays the revenue to the state budget does not record the budget level code. Based on the decentralization of state budget revenues to competent authorities, the State Treasury shall account for revenues according to each budget level in the state budget accounting system.
- For state budget expenditures, agencies and units assigning estimates, when issuing state budget expenditure documents (withdrawal of estimates or orders for spending money, other state budget expenditure documents), must clearly state which budget expenditures they are for. On that basis, the State Treasury shall account for expenditure codes according to the corresponding budget level in the state budget accounting system.
What are the regulations for classifying the state budget table of contents by section and subsection in Vietnam?
Pursuant to Article 4 of Circular 324/2016/TT-BTC, the regulations on classifying the state budget table of contents by section and subsection in Vietnam are:
- Contents of classification:
+ Sections used to classify state budget revenues and expenditures based on economic contents according to state budget policies, revenue, and expenditure regimes
+ Sections of the same nature as required by management are gathered into subgroups.
+ Subsections of the same nature according to management requirements are gathered into groups.
A subsection is a detailed classification of the section, used to classify detailed state budget revenues and expenditures according to the management objects in each section.
- Taxonomy code:
+ Sections are encoded in 4 characters, with even values in tens, including "item in balance" and "item outside balance."
Sections in the balance include the revenue section, state budget expenditure item, and source transfer item between budget years.
++ Non-balanced Sections include borrowing and repayment of loan principal from the state budget; foreclosure; and temporary expenditures.
+ Subsections are encoded in four characters, with values in unit rows ranging from 1 to 9, and the last nine values in the section's range use only other subsections (except when there are specific instructions). The revenue and expenditure subsections are arranged in about 50 consecutive values of the revenue and expenditure sections in the corresponding balance. Particularly, borrowings and principal repayment borrowings are valued at $20.
- Accounting principle: When accounting for state budget revenues and expenditures, only account for subsection codes in accordance with the economic content of budget revenues and expenditures. Based on the subsection code, determine the budget revenue and expenditure under the corresponding section.
The list of codes and subsections is detailed in Appendix III issued together with Circular 324/2016/TT-BTC.
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