Legal Counselling

Vietnam: Handling the difference between funding received from State Budget and funding provided

14:32, 20/02/2017

This is a notable content mentioned in Article 10 of Circular No. 12/2017/TT-BTC of the Ministry of Finance of Vietnam providing guidance on the procedures for provision of funding for equipment of environmental protection projects, issued on February 10, 2017. According to this Circular:

In the cases where the funding provided by Vietnam Environmental Protection Fund is lower than funding received: The remainder shall be returned to the State Budget.

In the cases where the funding received is lower than the funding provided: Vietnam Environmental Protection Fund shall report the cases of insufficient funding to the Ministry of Natural Resources and Environment, which will transfer them to the Ministry of Finance. Then the Ministry of Finance shall request a competent authority to consider.

In the cases where the funding is rejected: Total funding shall be returned to the State Budget.

View more: Circular No. 12/2017/TT-BTC of the Ministry of Finance of Vietnam takes effect from March 27, 2017.

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