When do insurance companies deposit the amount of money collected from the implementation of compulsory fire insurance in the year to the account of the Fire Prevention, Firefighting and Rescue Police Department in Vietnam?
When do insurance companies deposit the amount of money collected from the implementation of compulsory fire insurance in the year to the account of the Fire Prevention, Firefighting and Rescue Police Department in Vietnam?
What is the amount collected from insurance companies that implement compulsory fire insurance in a fiscal year in Vietnam?
According to Clause 1, Article 30 of Decree 67/2023/ND-CP, the collection and payment of compulsory fire insurance for fire prevention and fighting activities are as follows:
Collection and payment of compulsory fire insurance for fire prevention and fighting activities:
1. The amount collected from insurance companies that implement compulsory fire insurance in a fiscal year is 1% of the total actual premium collected from the original insurance contracts in the previous fiscal year.
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Therefore, the amount collected from insurance companies that implement compulsory fire insurance in a fiscal year is 1% of the total actual premium collected from the original insurance contracts in the previous fiscal year.
When do insurance companies deposit the amount of money collected from the implementation of compulsory fire insurance in the year to the account of the Fire Prevention, Firefighting and Rescue Police Department in Vietnam?
According to Clause 2, Article 30 of Decree 67/2023/ND-CP, the collection and payment of compulsory fire insurance for fire prevention and fighting activities are as follows:
Collection and payment of compulsory fire insurance for fire prevention and fighting activities:
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2. Every year, insurance companies are responsible for depositing the amount specified in Clause 1 of this Article into the Account of the Fire Prevention, Firefighting and Rescue Police Department opened by the Ministry of Public Security at the State Treasury of the Central Government within the following time limits:
a) Before June 30 of each year: Deposit 50% of the total amount specified in Clause 1 of this Article.
b) Before December 31 of each year: Deposit the remaining amount specified in Clause 1 of this Article.
As regulations above, insurance companies deposit the amount of money collected from the implementation of compulsory fire insurance in the year into the Account of the Fire Prevention, Firefighting and Rescue Police Department within the following time limits:
- Before June 30 of each year: Deposit 50% of the total amount collected from insurance companies that implement compulsory fire insurance in the fiscal year.
- Before December 31 of each year: Deposit the remaining amount as specified.
Note: The account of the Fire Prevention, Firefighting and Rescue Police Department is opened by the Ministry of Public Security at the State Treasury of the Central Government.
What are regulations on use of the revenue from compulsory fire insurance for fire prevention and fighting activities in Vietnam?
According to Clause 2, Article 31 of Decree 67/2023/ND-CP, the use of revenue from compulsory fire insurance for fire prevention and fighting activities is as follows:
- The revenue from compulsory fire insurance for fire prevention and fighting activities is used as follows:
- Support for the purchase of equipment and fire-fighting equipment for the Fire Prevention and Fighting Police Force: Up to 65% of the actual amount collected from compulsory fire insurance from insurance companies in the fiscal year. The purchase of equipment and fire-fighting equipment is carried out in accordance with the provisions of the law on bidding.
- Support for the dissemination of laws, knowledge of fire prevention, fighting and compulsory fire insurance: Up to 15% of the actual amount collected from compulsory fire insurance from insurance companies in the fiscal year. The contents and levels of dissemination of laws, knowledge are carried out in accordance with the provisions of the law on management, use and settlement of budget for public awareness and legal education.
- Support for the Fire Prevention and Fighting Police Force in the activities of investigating the causes of fires; professional training, fire safety inspection; monitoring the participation in compulsory fire insurance of facilities with fire and explosion hazards: Up to 15% of the actual amount collected from compulsory fire insurance from insurance companies in the fiscal year. The content of expenditure, the level of expenditure is carried out according to the current financial expenditure regime.
- Support for rewarding the achievements of organizations and individuals directly involved in and cooperating in fire prevention and fighting: Up to 5% of the actual amount collected from compulsory fire insurance from insurance companies in the fiscal year. In which:
+ Regular reward: Implement the provisions of the law on competition and reward.
+ Sudden reward for organizations and individuals directly involved in fire prevention and fighting: The Minister of Public Security, based on the achievements of organizations and individuals, the revenue from compulsory fire insurance, decides specific cases to be rewarded and the level of sudden reward.
Best regards!
