Circular No. 11/2007/TT-BTC guides the establishment of incentive funds and welfare funds for state-owned enterprises with special conditions during the fiscal years 2005 and 2006. This Circular applies to state-owned enterprises where the state capital exceeds self-raised capital, those undergoing ownership transformation, or those performing economic and social tasks in border and island areas.
Đối tượng áp dụng
State-owned enterprises with special conditions include: state-owned enterprises where the state capital exceeds self-raised capital; state-owned enterprises undergoing ownership transformation; and state-owned enterprises performing economic and social tasks in border and island areas.
Các điểm cốt lõi
- State-owned enterprises may establish two funds at a maximum of three months' salary if both the profit rate on state capital and the amount due to the state budget for the year are higher than or equal to the previous year; two months' salary if one indicator is lower than the previous year; and one month's salary if both indicators are lower than the previous year.
- The sources to replenish the incentive fund and welfare fund include the portion of profits generated for investment development funds and the portion of profits distributed according to state capital.
- State-owned enterprises must report the results of profit distribution for the years 2005 and 2006 to the Ministry, sector, locality, and the Ministry of Finance before June 30, 2007.
- This Circular applies to the establishment of incentive funds and welfare funds for the fiscal years 2005 and 2006. State-owned enterprises that have already established or temporarily established incentive funds and welfare funds for the fiscal years 2005 and 2006 shall be adjusted according to the provisions of this Circular.
- If the level of establishment of incentive and welfare funds under this Circular is lower than the level established under Decree No. 199/2004/NĐ-CP, state-owned enterprises shall implement according to the provisions of Decree No. 199/2004/NĐ-CP.
🌐 Tác động xã hội từ văn bản này
- Positive impact: State-owned enterprises with special conditions will be able to establish incentive and welfare funds flexibly, in accordance with actual circumstances.
- Negative impact: State-owned enterprises must comply with regulations on the establishment of funds, which may encounter difficulties in adjustment if the level of establishment is lower than before.
❓ Câu hỏi thường gặp
How much money can a state-owned enterprise extract from the incentive and welfare funds?
A state-owned enterprise may extract a maximum of three months' salary if both the profit rate on state capital and the amount due to the state budget for the year are higher than or equal to the previous year; two months' salary if one indicator is lower than the previous year; and one month's salary if both indicators are lower than the previous year.
What sources are used to replenish the incentive and welfare funds?
The sources to replenish the incentive fund and welfare fund include the portion of profits generated for investment development funds and the portion of profits distributed according to state capital.
When must a state-owned enterprise report the results of profit distribution?
State-owned enterprises must report the results of profit distribution for the years 2005 and 2006 to the Ministry, sector, locality, and the Ministry of Finance before June 30, 2007.
For how many years does this Circular apply to state-owned enterprises?
This Circular applies to the establishment of incentive funds and welfare funds for the fiscal years 2005 and 2006.
If the level of establishment of incentive and welfare funds under this Circular is lower than the level established under Decree No. 199/2004/NĐ-CP, what must a state-owned enterprise do?
If the level of establishment of incentive and welfare funds under this Circular is lower than the level established under Decree No. 199/2004/NĐ-CP, state-owned enterprises shall implement according to the provisions of Decree No. 199/2004/NĐ-CP.
Toàn văn
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MINISTRY OF FINANCE ****** |
SOCIALIST REPUBLIC OF VIETNAM ******** |
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Number: 11/2007/TT-BTC |
Hanoi, February 8, 2007 |
CIRCULAR
Guidelines for establishing incentive funds and welfare funds for state-owned enterprises with special conditions in 2005 and 2006
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Pursuant to the directive of the Prime Minister in Circular No. 409/VPCP-KTTH dated January 22, 2007 of the Government Office, the Ministry of Finance issues guidelines for establishing incentive funds and welfare funds for state-owned enterprises with special conditions in 2005 and 2006 as follows:
1. Scope of application: This circular guides the establishment of incentive funds and welfare funds for the following entities:
a. State-owned enterprises where the state capital exceeds the self-raised capital of the enterprise.
b. State-owned enterprises undergoing ownership transformation, including those that have received decisions from competent authorities regarding privatization, transfer, or sale of the enterprise but have not yet officially completed the ownership change.
c. State-owned enterprises undertaking certain economic and social tasks assigned by the State at border areas, islands, strategic regions; combining economic activities with national defense; providing employment for ethnic minorities...
2. Scope of application: This circular applies to the establishment of incentive funds and welfare funds for the entities specified in Article 1 of this circular for the years 2005 and 2006.
3. Content of the mechanism:
State-owned enterprises as specified in Article 1 of this circular shall establish incentive funds and welfare funds as follows:
a. They may establish two funds up to a maximum of three months' salary if both the profit rate on state capital and the amount payable to the state budget for the year are higher than or equal to the previous year.
b. They may establish two funds up to a maximum of two months' salary if either the profit rate on state capital or the amount payable to the state budget for the year is lower than the previous year.
c. They may establish two funds equivalent to one month's salary if both the profit rate on state capital and the amount payable to the state budget for the year are lower than the previous year.
4. Sources for supplementing incentive funds and welfare funds:
a. The portion of profit generated for investment development fund contributions:
b. The portion of profit distributed according to state capital.
5. Procedures for supplementing incentive funds and welfare funds:
5.1. Establishing incentive funds and welfare funds for 2005:
a. Use the profit generated in 2005 for investment development fund contributions as prescribed to supplement incentive funds and welfare funds according to Articles a, b, and c of Article 3 of this circular.
b. If all available sources for investment development fund contributions are exhausted without reaching the maximum level of incentive and welfare funds as prescribed above, the enterprise may use the profit generated in 2005 distributed according to state capital at the enterprise to supplement the two funds. In cases where the profit generated in 2005 belongs to the state capital at the enterprise and has been reallocated to a centralized fund by the owner of the enterprise (State Corporation for subsidiary companies, Ministry managing the sector or People's Committee of provinces and centrally-administered cities for independent state-owned enterprises), the state-owned enterprise must report to the owner for consideration and decision.
5.2. Establishing incentive funds and welfare funds for 2006: The procedure for establishing incentive funds and welfare funds for 2006 shall be carried out according to the provisions set forth in Article 5.1 above.
6. Reporting system:
a. State-owned enterprises as specified in Article 1 are responsible for reporting the distribution of profits for 2005 and 2006 to the relevant ministries, sectors, localities, and the Ministry of Finance for consolidation and submission to the Prime Minister. The reporting forms are attached to this circular.
b. The General Director and Chief Accountant of state-owned enterprises are responsible for implementing the reporting system and submitting relevant documents to the Ministry of Finance and related agencies before June 30, 2007.
7. Implementation Provisions:
a. This circular applies to the establishment of incentive and welfare funds for the fiscal years 2005 and 2006. State-owned enterprises that have already established or temporarily established incentive and welfare funds for the fiscal years 2005 and 2006 shall adjust according to the provisions of this circular. If the amount established or temporarily established is lower than the prescribed amount, it shall be supplemented; if it is higher, it shall be deducted from the amount to be established in the following year.
b. In cases where the amount established for incentive and welfare funds under this circular is lower than the amount established according to the provisions of Decree No. 199/2004/NĐ-CP dated December 3, 2004 of the Government on the issuance of Financial Management Regulations for State-Owned Enterprises and Management of State Capital in Other Enterprises, state-owned enterprises shall implement the provisions of Decree No. 199/2004/NĐ-CP mentioned above.
This circular takes effect fifteen days after its publication in the Official Gazette. Any difficulties encountered during implementation should be reported to the Ministry of Finance for consideration and resolution./.
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Recipient: |
DEPUTY MINISTER
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