Responsibilities of agencies in management and use of environmental remediation deposits in Vietnam

1. Responsibilities of the deposit receiver

- Request competent authorities to approve environmental restoration and remediation plan or the supplemental environmental remediation plan in cases of insufficient payment of deposits by the deposit payer.

- Remind deposit payers to pay deposits in a timely manner; request competent authorities to impose penalties for late payments of deposits as prescribed in the applicable law.

- Comply with the provisions in the law and in Circular No. 08/2017/TT-BTC in the management and use of deposits. Report monthly (before the 25th of the first month of the following quarter) and annually (before March 31 of the following year) to People’s Committees of Provinces, the Ministry of Natural Resources and Environment and the Ministry of Finance on the management and use of deposits.

- Impose internal regulations on the management and use of deposits as prescribed in Circular No. 08/2017/TT-BTC and in other relevant regulations of the law.

- Provide information and give irregular reports on the management and use of deposits at competent authorities' request.

2. Responsibilities of deposit payers

The deposit payer shall pay deposits and perform other tasks as prescribed in Circular No. 08/2017/TT-BTC of the Ministry of Finance of Vietnam and other relevant regulations of the law.

2. Responsibilities of the Ministry of Finance

- Take charge and cooperate with the Ministry of Natural Resources and Environment and relevant agencies to make amendments to regulations related to the management and use of deposits at the Environmental Protection Funds provided for in Circular No. 08/2017/TT-BTC (if any).

- Coordinate with the Ministry of Natural Resources and Environment and relevant agencies in instructing the Environmental Protection Funds and other relevant agencies to implement the provisions in Circular No. 08/2017/TT-BTC.

Circular No. 08/2017/TT-BTC of the Ministry of Finance of Vietnam was issued on January 24, 2017, effective on March 10, 2017.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE