Summary of state budget revenues and expenditures in Vietnam

Summary of state budget revenues and expenditures in Vietnam
Le Truong Quoc Dat

What are the regulations on the state budget revenues and expenditures in Vietnam? - Thanh Tuyen (Long An)

Summary of state budget revenues and expenditures in Vietnam
Summary of state budget revenues and expenditures in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Summary of state budget revenues in Vietnam

State budget revenues in Vietnam under Article 2 of Decree 163/2016/ND-CP are as follows:

- Taxes paid by organizations and individuals as prescribed in laws on taxation.

- Fees paid by organizations and individuals as prescribed by law.

- Collected charges for services provided by central regulatory agencies; if the fixed operating expenditures are determined, the charges may be deducted.

- Collected charges for services provided by central public service agencies and state-owned enterprises after being deducted to cover expenditures as prescribed by law.

- Amounts payable to State budget from economic activities of the State, including:

+ Profits distributed to home country and other revenues from petroleum exploration and extraction;

+ Recovery of investment by the State in business entities;

+ Revenues from distributed dividends and profits of joint-stock companies, multi-member limited liability companies that have state capital;

+ Revenues from post-tax profit that remains after making contributions to various funds of state-owned enterprises;

+ Positive difference between revenue and expenditure of the State bank of Vietnam;

+ Recovery of loans of State (including principal and interest), other than foreign loans of the Government.

- Contributions by other organizations and individuals as prescribed by law.

- Revenues from selling state-owned property, including revenues from transfer of land use right, change of purpose of land use under the management of the State.

- Land levies; land rents, water surface rents; sea-area use levies; rents and proceeds from the sale of state-owned houses.

- Revenues from property under the State ownership; revenues from issuance of mining right or issuance of the right to exploit water resources.

- Fines for administrative violations and other fines, confiscations as prescribed by law.

- Voluntary contribution of domestic and foreign organizations and individuals.

- Grant aid provided by governments of other countries, overseas organizations and individuals for Vietnam’s State, Vietnam’s government and local governments of Vietnam.

- Revenues from financial reserve fund as prescribed in Article 11 of the Law on State budget.

- Other revenues prescribed by law.

2. State budget expenditures in Vietnam

State budget expenditures in Vietnam under Article 3 of Decree 163/2016/ND-CP are as follows:

- Capital expenditure includes:

+ Capital expenditure on projects of the fields mentioned in Clause 3 of this Article;

+ Investment in and support of capital for enterprises providing public services and products ordered by the State; business organizations and central and local financial institutions; investment of state capital in enterprises prescribed by law;

+ Other capital expenditures prescribed by law.

- Expenditure on national reserve.

- Recurrent expenditures in the following fields:

+ Defense;

+ Social safety, security, and order;

+ Education and vocational training;

+ Science and technology;

+ Healthcare, population, and families;

+ Culture and information;

+ Radio, television, and the press;

+ Sports;

+ Environmental protection;

+ Economic activities;

+ Operation of regulatory agencies, the Communist Party of Vietnam and socio-political organizations, including:

Committee of Vietnamese Fatherland Front, Confederation of Labor of Vietnam, Communist Youth Union of Ho Chi Minh City, Vietnam Veterans Association, Vietnam Women's Union, Vietnam Farmers' Union; support for operation of socio-political-professional organizations, social organizations, socio-professional organizations as prescribed by law;

+ Expenditures on social security, including expenditures on support for implementation of social policies as prescribed by law;

+ Other recurrent expenditures prescribed by law.

- Payment of interests, charges and other expenses associated with the loans taken by the Government or government of provinces.

- Aid granted from central budget to overseas Governments and organizations.

- Grant of loans prescribed by law.

- Provision of additional funding for financial reserve fund.

- Expenditures carried over to next year’s budget.

- Provision of additional funding for budget balancing, provision of dedicated additional funding for inferior budgets from the superior budget.

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