Assignment of state budget revenue estimates for 2024 in Vietnam

Assignment of state budget revenue estimates for 2024 in Vietnam

- Ministries, central agencies, People's Committees of provinces, and centrally run cities shall deploy and assign state budget collection tasks in 2024 to affiliated units and lower-level governments, ensuring that they are at least equal to the state budget revenue estimate assigned by the Prime Minister.

- The assignment of state budget revenue estimates for 2024 must be based on a review, analysis, and full assessment of the revenue sources arising and the results of budget collection implementation in 2023; pursuant to policies and laws on budget collection; forecasting the economic growth of each industry, each field, and the production and business situation of taxpayers in the area.

- The assignment of fee collection estimates and fee amounts left to ministries and central agencies is carried out as follows:

+ Within the scope of fee collection, the fee amount paid to the state budget and the remaining fee amount assigned by the Prime Minister, ministries and central agencies as estimates to each affiliated agency and unit. Based on the collection progress and scope of expenditure estimates from the retained fee revenue, ministries and central agencies proactively manage and use it for purposes according to the provisions of Clauses 2, 3, 4, 5, Article 5 of Decree 120/2016/ND-CP (amended in Clause 4, Article 1 of Decree 82/2023/ND-CP), the Law on Public Investment 2019 and guiding documents sent to the Ministry of Finance for inspection, along with budget allocation plans according to regulations. If, during the year, the amount of retained fees incurred is higher than the assigned estimate at the beginning of the year, ministries and central agencies shall develop a usage plan and submit a written report to the Prime Minister for consideration and decision;

+ In addition to complying with the above regulations, agencies and units implementing specific financial mechanisms according to the regulations of competent authorities (if any) must implement them according to the provisions of Article 3 of Decision 1601/QD-TTg dated December 10, 2023.

More details can be found in Circular 76/2023/TT-BTC, which takes effect on February 12, 2024, and is applicable to the budget year 2024.

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