Summary of 20 Duties and Powers of the Vietnam State Treasury

Summary of 20 Duties and Powers of the Vietnam State Treasury (Source: Internet)

1. Functions of the Vietnam State Treasury (VNST)

Pursuant to Article 1 of Decision 26/2015/QD-TTg on the position and functions of the Vietnam State Treasury (VNST) as follows:

- Vietnam State Treasury is an agency directly under Vietnam's Ministry of Finance that advises and assists the Minister of Finance in the state management of state budget funds and state financial funds.

State budget management;

The State Accountant General;

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

- The VNST has legal status, a seal with the national emblem, can open accounts at the State Bank of Vietnam and commercial banks in accordance with the law, and is headquartered in Hanoi.

2. Duties and powers of Vietnam State Treasury

Pursuant to Article 2 of Decision 26/2015/QD-TTg on the duties and powers of Vietnam State Treasury as follows:

(1) Submit the following to the Minister of Finance of Vietnam:

- Submit to the Government a law project, a draft resolution of the National Assembly, an ordinance project, and a draft resolution of the National Assembly Standing Committee; draft decrees of the Government according to the approved annual law-making programs and plans of the Ministry and resolutions, projects, and schemes as assigned by the Government or the Prime Minister;

- Submit to the Prime Minister draft decisions, directives, strategies, master plans, action programs, schemes and important projects under the management of the State Treasury.

(2) Submit to the Minister of Finance of Vietnam for consideration and decision:

- Draft circulars and other documents on the management field of VNST;

- Annual operation plan of the VNST.

(3) Promulgate professional guidance documents, internal normative documents, and special documents under the management of the State Treasury.

(4) Organize the implementation of legal documents, strategies, master plans, plans, programs, projects, and schemes managed by the VNST after they have been promulgated or approved by the competent authority.

(5) Propagate, disseminate and educate the law in the field of management of VNST.

(6) Managing the state budget fund, the state financial fund assigned according to the provisions of law:

- Concentrate and reflect fully and promptly state budget revenues; organize the collection and payment to the state budget fund of the amounts paid by organizations and individuals at VNST system; account for state budget revenues for all levels of the state budget in accordance with the Law on State Budget and by competent state agencies;

- Control and pay expenditures of the state budget and other allocated capital sources according to the provisions of law;

- Manage the centralized foreign currency fund of the state budget, periodically announce the accounting exchange rate in service of the accounting of state budget revenues and expenditures in foreign currencies;

- Manage, control, and import and export state financial funds managed by VNST; manage temporary, custody, confiscation, deposit, escrow, and mortgage payments under decisions of competent state agencies;

- Manage precious and rare national assets assigned under decisions of competent state agencies; manage money, assets, and valuable certificates of the State and of units and individuals deposited at VNST.

(7) Deduct accounts opened at the VNST by organizations and individuals to pay the state budget or apply other administrative measures to collect for the state budget in accordance with the provisions of law; refuse to pay; pay improper expenses; and fail to meet the conditions prescribed by law.

(8) State budget accounting organization:

- Organize the accounting and accounting of the State budget, funds and State assets assigned to manage, aid, loans and debt repayment of the Government and local authorities according to the provisions of law;

- Report on the implementation of state budget revenues and expenditures to financial agencies of the same level and relevant state agencies in accordance with law;

- Summarize and make annual state budget statements and submit them to the Ministry of Finance for submission to the Government in accordance with law.

(9) Organize the implementation of the state accounting generalist:

- Receive information on financial statements of accounting units in the state sector in accordance with law;

- Synthesize state financial information on state assets; capital sources and liabilities of the State; operation situation, state budget revenue and expenditure results; state capital in enterprises and other assets, resources, and obligations of the State;

- Prepare state financial statements nationwide and in each locality, and report them to competent state agencies in accordance with law.

(10) Organize the legal performance of state treasury statistics and reporting regimes.

(11) Organize the overall system's centralized and unified management and administration of the state budget:

- Open an account, control a deposit account, and make payments in cash or transfer to organizations and individuals that have transaction relations with the State Treasury;

- Open a deposit account or a payment account at the State Bank and commercial banks to perform the collection, expenditure, and payment operations of the State Treasury in accordance with law;

- To use the state budget to advance the state budget according to the provisions of law;

- Build and develope a system of modern management tools and operations on the principle of ensuring the safety and efficiency of the state budget.

(12) Organize the mobilization of capital for the state budget and development investment through the issuance of Government bonds.

(13) Organize the administration and operation of the budget and treasury management information system.

14) specialized inspection, examination, internal audit, settlement of complaints and denunciations; handled within its competence or proposed competent authorities to handle within the scope of state management of the State Treasury for law violations; preventing and combating corruption and negativity; practicing thrift and combating wastefulness in the use of assigned assets and funds in accordance with law.

(15) Modernize VNST operations:

- Develop mechanisms, policies and professional processes in line with international practices and Vietnam's practice;

- Organize the management and application of information technology and advanced techniques, and modernize the material foundations of the State Treasury system.

(16) Carry out international cooperation tasks in the field of state treasury as assigned and decentralized by the Minister of Finance and in accordance with applicable laws.

(17) Carry out organizational and staff duties:

- Building organizational structure and developing human resources to meet the requirements of reforming mechanisms and policies and modernizing management technology;

- Management of organizational apparatus and payroll; implementation of the salary regime and the regimes and policies on remuneration, emulation and commendation, discipline, training and retraining for civil servants, public employees, and employees under the management of the VNST according to the decentralization of the Minister of Finance and the provisions of the law,

(18) Manage funds allocated by the state budget and assigned assets in accordance with law; may use revenues generated in professional activities according to the State's financial management regime.

(19) Implement administrative reform according to the objectives and contents of the PAR program approved by the Minister of Finance.

(20) Carry out any other duties and powers delegated by the Minister of Finance in accordance with the law.

Ngoc Nhi

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