New Regulations on the Duties and Powers of the State Treasury

Article 7 of Circular 58/2019/TT-BTC stipulates that from November 1, 2019, the State Treasury (hereinafter abbreviated as KBNN) has the following tasks and powers:

Illustrative image (source: internet)

1. For the Central KBNN:

- Manage and use accounts in accordance with this Circular to carry out payments quickly, accurately, and safely.- Organize the management of balances in accounts as prescribed in Clause 2, Article 5 of this Circular, ensuring the payment capability of the entire KBNN system.- Fully exercise the rights and obligations of account holders at the bank as prescribed by the SBV and the commercial banks where KBNN opens accounts.- Coordinate with commercial banking systems where accounts are opened to agree on the process of organizing cooperation for state budget revenue collection and electronic bilateral payment between the Central KBNN and each commercial banking system (including main contents as guided in the Appendix issued together with this Circular) to meet payment requirements and ensure compliance with legal regulations.

2. For the KBNN Transaction Office, provincial KBNN, district KBNN:

- Manage and use accounts in accordance with this Circular to carry out payments quickly, accurately, and safely; also facilitate units and individuals in transactions with KBNN.- Fully exercise the rights and obligations of account holders at the bank as prescribed by the SBV and the commercial banks where accounts are opened.

See more regulations in Circular 58/2019/TT-BTC, effective from November 1, 2019.

Thu Ba

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