blue-check Regulation on financial management of non-refundable financial assistance grants from May 20th, 2022

Circular No. 23/2022/TT-BTC dated April 6th, 2022 of the Ministry of Finance on guiding state financial management of non-refundable financial assistance grant of foreign countries recorded as state budget revenue
Posted: 8/4/2022 7:13:57 AM | Latest updated: 13/6/2022 1:46:11 PM (GMT+7) | LuatVietnam: 5429 | Vietlaw: 564

This Circular provides for new regulation on state financial management of non-refundable financial assistance grants of foreign countries to Vietnam, including: Assistance for central government budget or provincial government budget; independent assistance or assistance accompanied by loans for ODA projects; non-project assistance.

According to Article 3 of this Circular, all assistance grants must be classified, managed, monitored, and accounted for depending on (i) sponsorship methods (program, project, or non-project grant); (ii) nature of state budget expenditure (recurrent expenditure, investment expenditure, or other state budget expenditure); (iii) methods of organizing implementation (the foreign parties sponsor directly or authorize an organization to implement or owners of programs, projects in Vietnam implement).

All monetary assistance grants under direct management of owners of programs and projects in Vietnam shall be transferred to separate accounts opened at the State Treasury or financial institutions upon receipt; Do not transfer assistance grants to personal, hired, lent, or shared accounts of individuals, agencies, or entities upon receipt; Do not open accounts overseas to receive assistance grant unless otherwise required by the law of the sponsoring party and prescribed under Agreement/Convention on assistance.

This Circular takes effect May 20th, 2022 and replaces Circular No. 225/2010/TT-BTCstatus1 dated December 21st, 2010. To abrogate Circular No. 109/2007/TT-BTC dated September 10th, 2007.

Please be informed that the attachments are neither translated nor included in the English file.
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Effective Date 20-May-2022
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 564
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enflag pdficon TT23-06042022BTC[EN].pdf