Things to note when paying state budget support for small and medium-sized enterprises in Vietnam

The payment for the consultancy support from the State budget for SMEs to use consultancy services provided by consultant network is specified in Article 7 of Circular No. 54/2019/TT-BTC of the Ministry of Finance of Vietnam as follows:

- SME supporting bodies which decide the approval of consultancy support for SMEs are responsible for the payment for consultancy support for SMEs from the State budget.

- Based on the decision on approving the consultancy support to a SME and the receiving amount after inspecting, completing contract and paying for consultants from such SME, the SME supporting body shall receive the funding for consultancy support for SMEs from the State Treasuries. The State Treasuries shall carry out the spending control in conformity with the applicable regulations.

- SME supporting bodies shall be responsible for the accuracy, adequacy of documents relating to the consulting contracts and the implement thereof. Consultants shall cooperate with the SME supporting bodies to determine the accuracy, adequacy of documents relating to the consulting contracts and the implement thereof at request.

- Based on the organization of consultancy support for SMEs and the number of SMEs supported in a period, SME supporting bodies shall set the receipt of payment for consultancy support for SMEs from the State budget on a monthly or quarterly basis. (Example: A SME supporting body set the receipt of payment for consultancy support for SMEs from the State budget on a monthly basis. In March 2019, 10 SMEs received consultancy support from this supporting body. The supporting body shall receive the amount of support of 10 SMEs in one installment in the following month).

View other provisions at Circular No. 54/2019/TT-BTC of the Ministry of Finance of Vietnam, effective from October 10, 2019.

Thu Ba

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