Circular 85: Principles for adjustment to the Plan for construction investment capital fund from state budget in Vietnam

Circular 85: Principles for adjustment to the Plan for construction investment capital fund from the state budget in Vietnam (Illustrative image)

Circular 85/2014/TT-BTC stipulates the principles for adjustment to the Plan for construction investment capital fund from the state budget for implementing the Forest Protection and Development Plan in Vietnam as follows:

- Periodically, ministries, central authorities, and local authorities review the investment progress and objectives of the projects within the year to adjust the investment capital plan within their authority or submit to the Prime Minister of Vietnam for adjustment to the investment capital plan and transfer funds from projects that cannot be executed to projects that are eligible and have volumes to be paid.

- Before sending the adjusted investment capital plan for each project according to their authority or submitting it to the Prime Minister of Vietnam, ministries, central authorities, and local authorities shall direct the investor to stop payments at the expected adjustment time and work with the State Treasury of Vietnam to confirm the amount of capital in the annual plan that has been paid for the project, identify the surplus capital due to failure to implement, ensuring that the project's plan after adjustment is not less than the amount the State Treasury of Vietnam has paid according to Form No. 02/XNVTT issued with this Circular.

Ministries, central authorities, and local authorities are responsible for the disbursement data and the adjusted planned capital amount. The deadline for sending the adjusted investment capital plan is no later than May 15 of the year following the planned year.

Note: Ministries, central authorities, and local authorities shall adjust the investment capital plan and send it to the same-level financial authority and the State Treasury of Vietnam as the basis for payment. The annual adjustment deadline for each project's investment capital plan is no later than May 31 of the year following the planned year. The appraisal of adjusted capital allocation is carried out as per regulations.

The adjusted capital plan of the projects must be within the total annual planned capital allocated and within the medium-term plan (if any). The total adjusted capital must not exceed the plan already assigned by the Prime Minister of Vietnam for central budget funds and not exceed the plan assigned by the Chairperson of the provincial or district-level People’s Committee for local budget funds according to Form No. 03/DCKH issued with this Circular.

Details can be found in Circular 85/2014/TT-BTC effective from August 15, 2014.

Ty Na

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