Legal Counselling

Vietnam: 05 powers of the authority appraising annual budget statements

11:44, 11/01/2018

The Ministry of Finance of Vietnam issued Circular No. 137/2017/TT-BTC providing for inspection, appraisal, notification and consolidation of annual budget statements, which replaced Circular No. 01/2007/TT-BTC.

Specifically, according to Circular No. 137/2017/TT-BTC of the Ministry of Finance of Vietnam, when appraising the annual budget statement, the appraisal authority may:

- request the appraised unit to provide a representation or information, documents and data necessary for appraisal purpose. In case such unit fails to provide all inspection notice within the time limit as required, the finance authority shall not carry out appraisal of budget statements made by units not receiving the inspection notice issued by the competent authority;

- request the liable agency to remove illegitimate and unapproved expenditures from the statement and submit the illegitimate and unapproved expenditures, advance balance that is not carried over to the next year and other payable accounts to the state budget as regulated;

- request the appraised unit and the inspecting authority to adjust the data provided in the budget statement made by the budgetary unit if any mistake is found;

- request or ask a competent authority to request return of amounts transferred to the state budget against regulations.

View appraisal contents at Circular No. 137/2017/TT-BTC of the Ministry of Finance of Vietnam, effective from February 10, 2018.

- Thanh Lam -

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