New Regulations on the Management and Use of Funds in Food Safety Activities

12:12, 11/07/2024

Circular 117/2018/TT-BTC was promulgated by the Ministry of Finance to amend and supplement Circular 279/2016/TT-BTC which stipulates the rate of fees, collection policies, payment, management, and use of fees in food safety and hygiene work.

Circular 117 has supplemented regulations on the management and use of funds in food safety and hygiene activities, specifically the management and use of funds according to the new provisions as follows:

- The fee-collecting organization must submit the entire collected fee amount to the state budget except as provided below.- In cases where the fee-collecting organization is a public service provider or a state agency that is allocated operating costs from fee revenue, it may retain 80% of the collected fee amount to cover expenses as specified in Article 5 of Decree 120/2016/ND-CP. It must submit 20% of the collected fee amount to the state budget.- In cases where the fee-collecting organization is an enterprise: The collected fee amount is the revenue of the fee-collecting organization. The fee-collecting organization may retain 100% of the collected fee amount to cover fee collection costs and must declare and pay value-added tax (VAT) and corporate income tax (CIT).

More details can be found in Circular 117/2018/TT-BTC effective from January 15, 2019.

- Thanh Lam -

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