Vietnam’s regulations on new responsibility allowance for accountants applicable from May 15, 2018

The Ministry of Home Affairs of Vietnam has just issued Circular No. 04/2018/TT-BNV, of which a notable content is the new regulation on responsibility allowance for chief accountants, accountant in charge of accounting units in the state audit.

According to Circular No. 04/2018/TT-BNV of the Ministry of Home Affairs of Vietnam, a chief accountant working in the following units is eligible for monthly responsibility allowance equivalent to 0.2 of statutory base salary (equivalent to VND 260,000):

- Vietnam State Treasury, tax authorities, customs authorities;

- Regulatory agencies;

- Public sector entities;

- Budget-using units;

- Entities financed by the state to operate in accordance with particular political-social objectives.

A chief accountant working in project management boards holding legal status incorporated by regulatory agencies or public sector entities or in entities in charge of off-budget financial funds is eligible for responsibility allowance decided by competent authority.

An accountant appointed to be in charge is eligible for responsibility allowance equivalent to 0.1 of statutory base salary (VND 130,000/month). An accountant working in project management boards holding legal status incorporated by regulatory agencies or public sector entities or in entities in charge of off-budget financial funds is eligible for a responsibility allowance decided by competent authority.

Circular No. 04/2018/TT-BNV of the Ministry of Home Affairs of Vietnam takes effect from May 15, 2018.

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