What are provisions on establishment and consolidation of estimates of the State budget for consultancy support for small and medium-sized enterprises (SMEs) in Vietnam?
Hello Lawnet. I have a question. What are regulations on establishment and consolidation of estimates of the State budget for consultancy support for small and medium-sized enterprises (SMEs) in Vietnam?
Thank you!
Pursuant to Clause 1 Article 5 of the Circular 54/2019/TT-BTC (takes effect from 10/10/2019) stipulating establishment and consolidation of estimates of the State budget for consultancy support for small and medium-sized enterprises (SMEs) in Vietnam as follows:
At the time of making the annual State budget estimate, based on the documents of the Ministry of Finance and the Ministry of Planning and Investment guiding the formulation of plans to support the use of consultancy service in SMEs, the report on the previous year’s implementation and regulations specified in this Circular, SME supporting bodies shall plan and estimate funding for the implementation of such support and submit such plan and estimate to the centralized unit.
b) Ministries, ministerial-level agencies, provincial People’s Committees shall submit the consolidated plan and estimates of budget for consultancy support for SMEs (in accordance with Appendix 1 attached to this Circular) to the Ministry of Planning and Investment before July 20 for the consolidation of the national report; and incorporate such budget into the annual budget estimate of their agencies for submission to competent authority in accordance with Law on State budget and other guiding documents.
- The State budget: Based on proposals of ministries, ministerial-level agencies and the total funding from the State budget for consultancy support for SMEs, the Ministry of Planning and Investment shall formulate the overall plan of allocating the State budget and detail plans thereof for ministries, ministerial-level agencies (in accordance with Appendix 2 attached to this Circular) then submit such plans to the Ministry of Finance for consideration and incorporation such allocation into the budget estimates of agencies, which are submitted to the National Assembly for decision.
- The provincial budget: Based on the capability of balancing the local government annual budget, the Department of Finance of a provincial People’s Committee shall cooperate with the centralized unit to formulate the overall plan for allocation of estimated budget for consultancy support for SMEs and the detailed plan thereof for SME supporting bodies affiliated to the provincial People’s Committee; incorporate such allocation into the estimate of the local government budget revenues and expenditures and submit such estimates to competent authorities in accordance with regulations specified in Law on State budget and other guiding documents.
Above are provisions on establishment and consolidation of estimates of the State budget for consultancy support for small and medium-sized enterprises (SMEs) in Vietnam.
Best regards!
