Processing of budget revenue and expenditure for foreign loans and aids in Vietnam

04:05, 10/07/2024

Recently, the Ministry of Finance issued Circular 107/2008/TT-BTC to supplement certain points on the management and administration of the state budget.

Processing of budget revenue and expenditure for foreign loans and aids, Circular 107/2008/TT-BTC.

Processing of budget revenue and expenditure for foreign loans and aids in Vietnam (Illustrative image)

Circular 107/2008/TT-BTC stipulates the accounting for revenue and expenditure in the budget for foreign loans and aids as follows:

- Immediately after receiving disbursement notifications from foreign donors for projects and related documents and vouchers, the Ministry of Finance shall issue a revenue and expenditure order to the State Treasury to promptly account into the budget, in which, account for budget revenue if it is a non-refundable aid, and record it as a debt to be paid on the payable account if it is a loan as regulated;

- At the same time, account for budget expenditures for projects when sufficient conditions for expenditure recording as stipulated in Decision No. 19/2007/QD-BTC dated March 27, 2007, by the Minister of Finance promulgating the regulation on revenue and expenditure recording for the state budget for foreign loans and aids of the Government of Vietnam; in cases where conditions for expenditure recording are not yet met, monitor on advance accounts for management and account into the budget expenditure after all conditions for expenditure are met as regulated.

More details can be found in Circular 107/2008/TT-BTC, effective from December 18, 2008.

Ngoc Tai

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn