Method of calculating the cost of using the state budget of Vietnam from 2022

From January 1, 2022, the cost of using the state budget of Vietnam is calculated according to the regulations at Circular 97/2021/TT-BTC of Vietnam

From 2022, how is the cost of using the state budget calculated? (Illustration)

Specifically, the central budget when making advances or borrowing from the state budget and the provincial budget when making advances to the state budget of Vietnam is responsible for paying the expenses for using the state budget to the State Treasury of Vietnam monthly(no later than the 10th of the month immediately following the month of payment):

The cost of using the state treasury is equal to the interest rate applicable to deposits in VND of the State Treasury at the State Bank of Vietnam under the decision of the Governor of the State Bank of Vietnam in the same period.

Currently, Circular 23/2020/TT-BTC of Vietnam stipulates the cost of using the state budget at 0.10%/month, on the basis of a month with 30 days.

Particularly, expenses for using the state budget of the month due to repayment of advances or loans from the state budget shall be paid to the State Treasury at the same time when the advances or loans are returned to the state treasury. The monthly cost of state budget use is determined as follows:


 

Currently, this cost is calculated by:

The outstanding balance of advances and loans x (0.10%/30) x Number of days of actual advances and loans in the month

In there:

- Actual balance of advances and loans from the state budget of Vietnam is determined at the end of each day within the time limit for calculating expenses for using the state budget.

The time limit for calculating the cost of using the state budget is by month, calculated from the date of capital withdrawal for the first period of calculation of state budget expenditures or the first day of the month for the following periods of calculation of state budget expenditures to the end of the last day of the month of calculation of state budget expenditures or the day immediately preceding the date of payment of advance payment. , borrow from the state budget for the last period of calculating the cost of using the state budget.

- The number of days to maintain the actual debt balance (including holidays and legal holidays) is the number of days that the actual outstanding balance of advances or loans to the state budget at the end of each day remains unchanged for a period of time limit for calculating the cost of using the state budget mentioned above.

- The cost of using the state treasury is equal to the interest rate applicable to deposits in Vietnam dong of the State Treasury at the State Bank of Vietnam under the decision of the Governor of the State Bank of Vietnam in the same period. period.

In case the Governor of the State Bank of Vietnam promulgates a decision to adjust the interest rate applicable to deposits in VND of the State Treasury at the State Bank of Vietnam, the new interest rate shall be applied from the effective date of such interest rate.

In addition, for the expense of using the overdue state budget:

In case an advance or loan from the state budget of the central budget or an advance of the state budget of the provincial budget is overdue, the central budget or the provincial budget shall be responsible for paying the expenses for using the state budget overdue at the rate equal to 150% of the stated cost of using the state budget of Vietnam.

This shall be applied on the day immediately preceding the time limit for calculating expenses for using the overdue state budget. Expenses for using the overdue state budget shall be paid once to the State Treasury upon recovery of overdue advances or loans from the state budget and shall be determined as follows:


 

Currently, the cost of using overdue state funds is calculated by:

Outstanding balance of advances and overdue loans x (0.10%/30) x 150% x Number of days of advances and overdue loans

The outstanding balance of advances and loans from the state budget as of January 1, 2022, shall be subject to the cost of using the state budget according to the provisions of Circular 97/2021 from January 1, 2022.

Advances and loans from the state budget approved before January 1, 2022, but withdrawn after January 1, 2022 are subject to the cost of using the state budget as prescribed in Circular 97/2021 of Vietnam.

Bao Ngoc

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