07 Principles of electronic transactions in professional activities of the State Treasury of Vietnam

07 Principles of electronic transactions in professional activities of the State Treasury of Vietnam (Internet image) 

1. What are electronic transactions in the professional activities of the State Treasury?

According to Clause 1 of Article 3 of Circular 87/2021/TT-BTC, electronic transactions in the professional activities of the State Treasury mean electronic transactions between the State Treasury and related agencies, organizations, and individuals, and within the State Treasury system, in the professional activities of the State Treasury:

- Management of state budget funds, state financial funds;

- Management of the state budget; the state general accountant;

- Mobilizing capital for the state budget and for development investment through the form of government bond issuance in accordance with the law.

2. Principles of electronic transactions in professional activities of the State Treasury of Vietnam

According to Article 4 of Circular 87/2021/TT-BTC, the principles of electronic transactions in the professional activities of the State Treasury of Vietnam include:

(1) Agencies, organizations, and individuals participating in electronic transactions in professional activities of the State Treasury must comply with the principles specified in Article 5 of the Law on Electronic Transactions 2005, Article 4 of Decree 165/2018/ND-CP.

(2) Agencies, organizations, and individuals that have completed transactions electronically are not required to perform such transactions by another transaction method and are recognized as having completed the procedure on the website of the State Treasury, unless otherwise provided for by law.

(3) The State Treasury does not require agencies, organizations, or individuals to re-submit the data that the State Treasury is managing or that data is readily shared by other state agencies and meets the requirements, except for requesting to provide data for updating or for data verification and verification purposes.

In case the State Treasury requests agencies, organizations, and individuals to provide data for updating or using for data verification and verification purposes, they must comply with the provisions of Article 16 of Decree 165/2018/ND-CP.

(4) Electronic vouchers in the professional activities of the State Treasury must be digitally signed by a competent agency, organization, or individual or authenticated by other measures as prescribed in Article 5 of Decree 165/2018/ND-CP.

(5) The use of digital certificates and digital signatures in electronic transactions in professional activities of the State Treasury must comply with the provisions of the law on digital signatures and digital signature certification services.

Before using digital signatures to conduct electronic transactions with the State Treasury, agencies and organizations must register the digital signatures of relevant individuals within the agency or organization with the State Treasury.

(6) Electronic payment transactions between the State Treasury and the State Bank of Vietnam and electronic payment transactions of the State Treasury through the inter-bank electronic payment system shall be carried out according to regulations of the State Bank of Vietnam.

Electronic transactions on electronic bilateral payments and coordination of state budget collection between the State Treasury and commercial banks shall be carried out according to the agreement between the State Treasury and each commercial banking system, in accordance with the provisions of law.

(7) In addition to the web portal and websites of the State Treasury, the State Treasury may participate in information systems managed by other agencies or organizations or use other electronic means to conduct transactions in the professional activities of the State Treasury.

In case the State Treasury participates in the information system managed by another agency or organization, the Electronic transactions between the State Treasury and related agencies, organizations, and individuals through such an information system shall be carried out in accordance with the regulations of the information system owner, ensuring compliance with the provisions of law. 

Thanh Rin

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