04 principles of financial management of the Peasant Assistance Fund of Vietnam Peasants’ Association

According to Article 2 of Circular No. 69/2013/TT-BTC of the Ministry of Finance of Vietnam, financial management of the Peasant Assistance Fund of Vietnam Peasants’ Association shall comply with the following 04 principles:

- The Peasant Assistance Fund shall operate not for the profit-making purpose, support and assist peasants in developing the agricultural and rural production and business.

- The Peasant Assistance Fund has the legal entity, separate seal and accounting balance sheet, and is entitled to open its account at the State Treasury, domestic commercial banks as prescribed by law.

- The Peasant Assistance Fund shall enjoy the financial autonomy, take self-responsibility for its operations before law; ensure the capital safety and development; offset expenses and risks in operation in accordance with the existing law and provisions in this Regulation.

- The capital and asset management, financial revenue and expenditure activities of the Peasant Assistance Fund shall be subject to the direction and management by the Executive Board of Peasants Association’s Committee at the same level and the Vietnam Peasants Association’s Central Committee.

Notably, Circular No. 69/2013/TT-BTC applies to Peasant Assistance Funds of Vietnam Peasants’ Association (including the Central Peasant Assistance Fund, the provincial- and district-level Peasant Assistance Funds) which are established according to the Document No. 4035/KTTH dated July 26, 1998 on the setting up of the Peasant Assistance Fund and the Prime Minister’s Decision No. 673/QĐ-TTg dated May 10, 2011 on direct implementation and coordination by Vietnam Peasants’ Association in implementing some programs and projects on rural economic, cultural and social development during 2011-2020. 

View relevant provisions at Circular No. 69/2013/TT-BTC of the Ministry of Finance of Vietnam, effective from July 15, 2013.

Thu Ba

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