Editing documents for appraisal and approval of foreign loans from April 1, 2022

Editing documents for appraisal and approval of foreign loans from April 1, 2022 (Illustration image)

Specifically, according to Clause 5, Article 1 of Circular 09/2022/TT-BTC , the dossier for the Ministry of Finance to appraise and approve the foreign loan policy provided by the owner's representative agency includes: :

(1) Official letter of the agency representing the owner requesting the Ministry of Finance to appraise and approve the enterprise's policy on foreign debt, in which, specifically explaining the following contents:

- The satisfaction of the conditions for appraisal and approval of foreign loan policy specified in Article 4 of the Regulation promulgated together with Circular 153/2014/TT-BTC ;

- Opinions of the owner's representative agency on the necessity of foreign loans, the enterprise's ability to balance reciprocal capital, the ability to repay foreign loans, and the enterprise's financial capacity.

(Compared to the present, adding comments on the need for foreign loans, debt repayment ability, and financial capacity of enterprises)

(2) The document of the agency representing the owner approving the foreign loan policy, including the following contents:

- Purpose of the loan;

- Main conditions of foreign loans: Foreign loan value, debt receipt currency, loan term, interest rate and fees related to foreign loans, repayment method, grace period term and time of debt payment;

- Other basic terms and conditions related to foreign loans (if any);

- Basic information in the financial plan of the project using foreign loans, including the total investment amount, the structure of investment capital sources, the disbursement progress of the foreign loan, the plan for arranging the reciprocal capital each day. year of the business.

(Compared to now, detailing the contents contained in the approval document)

(3) Five-year investment and development plan and annual business and production plan of the enterprise. (New content added)

(4) The Lender's document approving the provision of a foreign loan to implement the project, which contains the conditions of the foreign loan, including: Value of the foreign loan, currency to receive debt, term loans, interest rates and fees related to foreign loans, repayment methods, grace period, repayment period and other basic conditions related to foreign loans (if any).

(Compared to the present, additional conditions on the value of foreign loans and the currency of debt are added).

(5) Project investment decision of the competent authority or decision approving field development plan (FDP) for oil and gas projects.

(6) The financial plan of the project using foreign loans made by the enterprise, which explains the total investment amount, the structure of investment capital (reciprocal capital of the enterprise, capital from foreign loans). foreign loans and other capital sources), foreign loan disbursement schedule, annual counterpart fund arrangement plan, plan to balance annual loan repayment from depreciation, profit brought by the project and attached data sheets.

(7) Certificate of enterprise registration at the latest time.

(8) Separate financial statements and consolidated financial statements (in case the enterprise is the parent company of a state economic group, the parent company of a state corporation, the parent company of a group of companies) parent - subsidiary) has been audited according to the provisions of law in the last 03 consecutive years and the most recent quarterly financial statement of the enterprise up to the time of requesting the Ministry of Finance for appraisal.

In case the enterprise has less than 03 years of continuous operation, the agency representing the owner must have an opinion on the debt repayment ability, enclosed with the audited latest year's financial statement, the latest quarterly financial statement. of the enterprise.

(Currently, if the enterprise has not had enough three consecutive years of operation, it must have a written commitment from the Owner to guarantee the repayment ability of the loan and attached the financial statement of the preceding year. audited by the parent company ).

(9) The enterprise's report on the value of guarantees for loans to subsidiaries at credit institutions, valid at the end of the year and the end of the latest quarter up to the time of requesting the Ministry of Finance to appraise them. specified (if any).

(10) Reports of enterprises on overdue debts at financial and credit institutions, overdue debts related to guaranteed amounts, on-lending of foreign loans of the Government and banks State book at the time of requesting the Ministry of Finance to appraise. (New content added)

Circular 09/2022/TT-BTC takes effect from April 1, 2022. In cases where the Ministry of Finance has received the application before April 1, 2022 but has not yet completed the appraisal and approved the foreign loan policy, the provisions of this Regulation shall apply.

Jewel

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