Individuals and organizations engaged in charitable activities are obligated to provide financial statements in Vietnam as specified in Circular 41/2022/TT-BTC< /a> stipulating the guidance on the accounting regime for social and charitable activities.
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Individuals and organizations conducting charitable activities obligated to provide financial statements in Vietnam (Source: Internet)
Specifically, organizations, agencies, and units that have their own accounting organization for social and charity activities must prepare financial statements at the end of the annual accounting period as prescribed by law in Vietnam;
Submit them to competent state agencies within 90 days from the end of the annual accounting period as prescribed by law in Vietnam.
At the same time, individuals and organizations engaged in social and charitable activities must disclose financial statements as follows:
- Financial Statements of Social Funds and Charity Funds must be made public according to the provisions of Vietnam's Decree 93/2019/ND-CP;
Financial statements of other organizations and units shall be made public according to the regulations of the law in Vietnam;
In addition, organizations and units performing the mobilization, receipt, distribution, and use of voluntary contributed capital must publicize information on the mobilization, receipt, distribution, and use of contributed capital to support disaster recovery, epidemics, incidents, and support patients with critical diseases.
- The disclosure of the annual financial statements must be made within 30 days from the date of making the financial statements.
(Compared to Circular 103/2018/TT-BTC, it has been expanded to apply to more subjects instead of only applying to the "For the Poor" Fund Advocacy Committee according to current regulations.)
See more at Circular 41/2022/TT-BTC effective from September 1, 2022.
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