Circular 111: 08 Expenses for officials and public employees of the Vietnam Development Bank

Circular 111: 08 Expenses for officials and public employees of the Vietnam Development Bank

Circular 111/2007/TT-BTC prescribes management expenses for officials and public employees of the Vietnam Development Bank, including:

- Salary expenses and salary allowances according to prescribed policies (including expenses for contract workers);

- Social insurance, health insurance, and trade union funding contributions as prescribed by the State policies;

- Mid-shift meals: the expense per person does not exceed the minimum wage level set by the State for public employees;

- Transaction outfit expenses, the level of expenditure is decided by the General Director, and it does not exceed 1,000,000 VND/person/year;

- Allowance expenses for part-time members of the Management Council and the assisting team as prescribed by law;

- Expenses for female workers as prescribed;

- Expenses for labor protection equipment as prescribed;

- Provision fund for severance allowance. The annual provision is from 1-3% of the actual salary fund of the Development Bank.

Additionally, this Circular also prescribes management expenses for administrative and official activities in Vietnam, including:

- Expenses for the purchase of labor tools and office supplies;

- Expenses for fire prevention and firefighting;

- Postage and communication expenses: expenses for postage, communication, telephone, telegram, leased communication channels, telex, fax, etc., paid according to invoices from the postal agency. The expenses for equipping official telephones at private residences and mobile phones for leaders of the Development Bank follow the Ministry of Finance regulations on the policies of telephone usage for leaders in administrative agencies, public service units, political organizations, social enterprises, and state-owned enterprises.

- Expenses for electricity, water, health, and sanitation of the agency.

- Fuel expenses for transportation to serve officials and public employees going on business trips, and leaders of the Bank going to work, according to the Ministry of Finance regulations on the policies of car usage in administrative units and state-owned enterprises.

- Travel expenses for officials and public employees going on domestic and international business trips, settled according to the current regulations of the Ministry of Finance.

- Propaganda expenses, press conferences, transaction expenses, foreign affairs, conference expenses. These expenses do not exceed 5% of the total expenses.

- Expenses for inspection, auditing units affiliated with and under the Development Bank as prescribed policies

.- Asset maintenance and repair expenses.

- Training, professional practice, scientific research, technology, innovation, technical improvement expenses, including organizing training courses, professional practice, short-term computer and foreign language training for officials and public employees of the Development Bank; expenses for purchasing materials, printing, translating documents for training and professional practice, research, etc.

More details can be found in Circular 111/2007/TT-BTC, which comes into effect in Vietnam from October 10, 2007.

Ty Na

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