Principles of management and control of spending commitments through the State Treasury of Vietnam

Bao Ngoc

10:23, 18/10/2021

On October 11, 2021, the Ministry of Finance of Vietnam promulgated Circular 89/2021 / TT-BTC and control commitments to spend the state budget through the State Treasury.

According to the Circular, detailing the principles of management and control of spending commitments through the State Treasury, for example:

All state budget expenditures assigned annual estimates by competent state agencies or assigned capital plans for investment expenditures (including advance estimates), have contracts under the provisions of Article 1 of Circular 89/2021 of Vietnam must be managed and controlled spending commitments through the State Treasury.

In case there is an adjustment to increase the contract value from the level where it is not required to control expenditure commitments to the level where it is required to control expenditure commitments, the budget user is not required to carry out procedures for controlling expenditure commitments.

For contracts that have managed and controlled spending commitments, in case the adjustment of the contract value results in an adjustment of the amount of money the budget user has made the spending commitment, the budget user must carry out procedures for adjusting spending commitments with the State Treasury.

For details, see Circular 89/2021/TT-BTC of Vietnam, which takes effect on November 24, 2021 and replaces Circulars 113/2008/TT-BTC; Circular 40/2016/TT-BTC.

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