Time Limits for Implementation and Payment of Construction Investment Capital from the State Budget

Deadline for implementation and payment of construction investment capital from the State Budget (Illustration)

Circular 85/2014/TT-BTC stipulates the deadline for implementation and payment of construction investment capital from the State Budget for the Forest Protection and Development Plan. To be specific:

(1) The capital plan of the year is disbursed for the completed volume that is finally accepted until April 30 of the following year; the payment period for the year's capital plan is implemented until June 30 of the following year.

(2) Extension of implementation and payment period of capital:

- By June 30 of the following year, the assigned capital plan for projects that have not been used or have not been fully used may not be further disbursed and will be cancelled; except for cases where the competent authority allows extension to the following year (if any);

- The consideration of extending the capital of projects: after the annual payment deadline as stipulated (June 30 of the following year), based on the implementation and payment situation of projects related to forest activities, as proposed by the project owners of projects under the category (at the first dash, point b, clause 7 of this Article), the managing agency summarizes and submits a proposal in writing along with confirmation from the State Treasury where the project opens an account about the paid capital until June 30 of the following year to the Ministry of Finance (for projects under the central budget) and the Chairman of the Provincial People's Committee (for projects under the local budget);

- Time to consider extension:

- The proposal of the managing agencies must be submitted no later than July 31 each year, clearly stating the project name, annual capital plan, paid capital until June 30 of the following year, proposed extended implementation and payment capital, extension period, and reasons for extension;- Based on the proposal of the managing agency, the Minister of Finance (for projects under the central budget) and the Chairman of the Provincial People's Committee (for projects under the local budget) decide on the list and deadlines of projects allowed to be extended;- The decision on the list and deadlines of the projects allowed to be extended must be concluded by August 30 each year;

- Extended capital payment period: no later than December 31 of the year following the planned year. Other cases are decided by the Prime Minister of the Government of Vietnam.

Note: By August 30 of the following year, cases without a written acceptance from the competent authority to extend the plan to the following year's budget will have the remaining capital cancelled.

Details can be found at Circular 85/2014/TT-BTC, effective from August 15, 2014.

Ty Na

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