Details of the Wage Reform Fund in 2020 for Localities

Bich Hoa

16:05, 10/07/2024

The Ministry of Finance has just issued Circular 88/2019/TT-BTC on organizing the implementation of the State budget estimates for the year 2020.

Circular 88 specifies in detail the sources for implementing the 2020 wage reform for localities, including:

- 70% of the increase in local budget revenue in 2019 compared to the estimate assigned by the Prime Minister of the Government of Vietnam;- 50% of the increase in local budget revenue in the 2018 estimate compared to the 2017 estimate assigned by the Prime Minister of the Government of Vietnam;- 50% of local budget funds saved from reducing regular spending in the administrative sector and supporting public service providers;- Unused funds for wage reform in 2019 carried forward;- 10% savings in regular spending as per the 2017 estimate assigned by the competent authority;- 10% savings in additional regular spending in 2020 compared to 2017 according to the 2020 budget estimate assigned by the Minister of Finance;- Using at least 40% of the retained revenue according to policies in 2020;- …

For details, see Circular 88/2019/TT-BTC, effective from January 1, 2020.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn