Plan for allocation and assignment of budget revenue estimates in Vietnam in Year 2011

Plan for allocation and assignment of budget revenue estimates in Vietnam in Year 2011 (Illustrative image)

Article 2 Circular 202/2010/TT-BTC stipulates the allocation and assignment of 2011 budget revenue estimates in Vietnam as follows:

- Ministries, Central agencies, and People's Committees of provinces and centrally-run cities shall implement the assignment of 2011 budget revenue tasks to subordinate units and lower-level authorities, ensuring higher striving levels than the budget revenue estimation assigned by the Prime Minister of the Government of Vietnam.

- In addition to assigning the budget revenue estimation, Ministries, Central agencies, and People's Committees of provinces and centrally-run cities shall assign public revenue tasks to subordinate units (if any).

- The allocation and delivery of budget revenue estimation must be based on the evaluation of the 2010 budget revenue performance; relying on tax laws, revenue policies; the economic growth rate of each sector, each field, the ability to develop specific production and business services of enterprises, organizations, and business households; the requirement to enhance inspection and audit work, implement measures against smuggling, tax evasion, tax fraud, and commercial fraud, intensify the collection of overdue tax debts, the amounts discovered and recorded after inspections and audits according to the conclusions of the State Inspector and the State Audit; fully and promptly collect the deferred corporate income tax of 2010 by the deadline for payment into the budget in Vietnam.

More details can be found in: Circular 202/2010/TT-BTC, which comes into force in Vietnam from January 1, 2011.

Nguyen Phu

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