Vietnam: Time limit of remittance to the State budget for amounts revoked from off-balance-sheet debts and payable to the State Budget

According to Article 4 of Circular No. 83/2013/TT-BTC of the Ministry of Finance of Vietnam, within 15 days after ending quarter, the equitized State Commercial Banks shall remit all amounts revoked from off-balance-sheet debts and payable to the State Budget arising in quarter into the State Budget at the State Treasure as prescribed in Law on State Budget and Circular No. 128/2008/TT-BTC, of December 24, 2008, guiding the collection and management of the State Budget’s revenues through State Treasuries.

All money revoked from off-balance-sheet debts payable to the State Budget specified in  Clause 1 Article 4 of this Circular shall be remitted to the State Budget according to:

- Respective chapters of the State commercial bank (chapter 139: Joint stock commercial Bank for Foreign Trade of Vietnam; chapter 140: Vietnam Joint Stock Commercial Bank for Industry and Trade; chapter 142: Joint Stock Commercial Bank for Investment and Development of Vietnam; chapter 144: Mekong Housing Bank).

- Type 340, Clause 341.

- Section 3650, sub-section 3653 “collection of debts from using the state budget capital.

Also according to Circular No. 83/2013/TT-BTC, biannually, counted under the calendar year, from January 01 to June 30 and from July 01 to December 31 annually, the equitized state-owned commercial banks that have the off-balance-sheet debts retained shall be responsible for making and sending a report to the Ministry of Finance, the State Bank of Vietnam about off-balance-sheet debts retained, the amounts revoked from off-balance-sheet debts retained, amounts retained for the equitized state commercial banks, amounts payable to the state budget, amounts remitted to the state budget. A periodical report till December 31 annually shall sum up the accumulated amounts revoked from off-balance-sheet debts retained for the whole year (detailed according to the form in attached Annex).

View more details at Circular No. 83/2013/TT-BTC of the Ministry of Finance of Vietnam, effective from August 15, 2013.

Thu Ba

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