Circular No. 110/2018/TT-BTC amends regulations on accounting for the issuance, exchange, and repurchase of domestic debt instruments into the state budget. This Circular takes effect from November 15, 2021.
适用范围
Financial agencies, banks, bond issuers, and units related to the activities of repurchasing and exchanging government debt instruments, government-guaranteed bonds, and local government bonds.
要点
- Loans through bond issuance, Treasury bills, and national construction bonds are accounted for at face value.
- The difference between the original face value of the bonds repurchased and the repurchase price is recorded on a separate account; if positive, it reduces the corresponding interest payment from the budget, and if negative, it increases the interest payment.
- Accounting does not record differences in face value arising from the exchange of bonds as revenue or expenditure in the state budget; if positive, it reduces the loan balance, and if negative, it increases the loan balance.
- This Circular takes effect from November 15, 2021.
🌐 本文件的社会影响
- Positive impact: Enhances transparency and strict management of domestic debt instrument issuance and exchanges recorded in the state budget.
- Negative impact: May increase accounting costs for related organizations due to the need to track and account for face value differences.
❓ 常见问题
How are loans through bond issuance accounted for?
Loans through bond issuance, Treasury bills, and national construction bonds are accounted for at face value.
How is the difference between the original face value of the bonds repurchased and the repurchase price handled?
This difference is recorded on a separate account; if positive, it reduces the corresponding interest payment from the budget, and if negative, it increases the interest payment.
How are differences in face value arising from the exchange of bonds handled?
Accounting does not record these differences as revenue or expenditure in the state budget; if positive, it reduces the loan balance, and if negative, it increases the loan balance.
When does this Circular take effect?
This Circular takes effect from November 15, 2021.
What actions must organizations related to the repurchase and exchange of debt instruments undertake according to this Circular?
Organizations must account for and record the issuance, exchange, and repurchase of domestic debt instruments into the state budget in accordance with the new provisions of this Circular.
全文
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIET NAM |
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Number: 79/2021/TT-BTC |
Hanoi, September 21, 2021 |
CIRCULAR
AMENDMENTS AND SUPPLEMENTS TO CLAUSE 1, ARTICLE 2 OF CIRCULAR NO. 81/2020/TT-BTC DATED SEPTEMBER 15, 2020 AMENDING AND SUPPLEMENTING CERTAIN PROVISIONS OF CIRCULAR NO. 110/2018/TT-BTC DATED NOVEMBER 15, 2018 OF THE MINISTRY OF FINANCE GUIDING THE REPURCHASE AND SWAP OF GOVERNMENT DEBT INSTRUMENTS, GOVERNMENT-GUARANTEED BONDS, AND LOCAL GOVERNMENT BONDS IN THE DOMESTIC MARKET AND CIRCULAR NO. 342/2016/TT-BTC DATED DECEMBER 30, 2016 OF THE MINISTRY OF FINANCE PROVIDING GUIDELINES FOR IMPLEMENTATION OF CERTAIN PROVISIONS OF DECREE NO. 163/2016/NĐ-CP DATED DECEMBER 21, 2016 OF THE GOVERNMENT GUIDING THE IMPLEMENTATION OF CERTAIN PROVISIONS OF THE STATE BUDGET LAW
Pursuant to the State Budget Law dated June 25, 2015;
Pursuant to the Public Debt Management Law dated November 23, 2017;
Pursuant to Decree No. 95/2018/NĐ-CP of the Government dated June 30, 2018 on the issuance, registration, custody, listing, and trading of government debt instruments on the securities market;
Pursuant to Decree No. 93/2018/NĐ-CP of the Government dated June 30, 2018 on the management of local government debts;
Pursuant to Decree No. 94/2018/NĐ-CP of the Government dated June 30, 2018 on public debt management operations;
Pursuant to Decree No. 163/2016/NĐ-CP dated December 21, 2016, issued by the Government, detailing the implementation of certain provisions of the State Budget Law;
Pursuant to Decree No. 87/2017/NĐ-CP of the Government dated July 26, 2017 on the functions, tasks, powers, and organizational structure of the Ministry of Finance;
Pursuant to the proposal of the Director of the State Budget Department;
The Minister of Finance issues this Circular to amend and supplement Clause 1, Article 2 of Circular No. 81/2020/TT-BTC dated September 15, 2020 amending and supplementing certain provisions of Circular No. 110/2018/TT-BTC dated November 15, 2018 of the Ministry of Finance guiding the repurchase and swap of government debt instruments, government-guaranteed bonds, and local government bonds in the domestic market and Circular No. 342/2016/TT-BTC dated December 30, 2016 of the Minister of Finance providing guidelines for implementation of certain provisions of Decree No. 163/2016/NĐ-CP dated December 21, 2016 of the Government guiding the implementation of certain provisions of the State Budget Law.
Article 1.
Clause 1, Article 2 of Circular No. 81/2020/TT-BTCdated September 15, 2020 amending and supplementing certain provisions of Circular No. 110/2018/TT-BTC dated November 15, 2018 of the Minister of Finance guiding the repurchase and swap of government debt instruments, government-guaranteed bonds, and local government bonds in the domestic market and Circular No. 342/2016/TT-BTC dated December 30, 2016 of the Minister of Finance providing guidelines for implementation of certain provisions of Decree No. 163/2016/NĐ-CP dated December 21, 2016 of the Government guiding the implementation of certain provisions of the State Budget Law shall be amended as follows:
"1. Clause 3 of Article 16 is amended as follows:"
"3. Accounting and bookkeeping for the issuance, swap, and repurchase of domestic debt instruments into the state budget:"
a) Amounts borrowed through the issuance of government bonds, treasury bills, and national construction bonds shall be accounted for at face value;
"b) In cases where there is a price difference between the selling price of government bonds and treasury bills compared to their face value, or the difference between the face value of repurchased bonds and the purchase price, such differences shall be recorded on separate accounts; at year-end, based on the balance of these separate accounts, if the difference is positive, it shall be recorded as a reduction in interest payments from the budget, and if the difference is negative, it shall be recorded as an increase in interest payments from the budget;"
"c) For any price differences arising from the swap of bonds, accounting shall not record these as revenues or expenditures of the state budget; if the difference is positive, it shall be recorded as a reduction in the budget's outstanding debt immediately after the bond swap, and if the difference is negative, it shall be recorded as an increase in the budget's outstanding debt immediately after the bond swap.""
Article 2. Implementation clause
1. This Circular takes effect from November 15, 2021.
2. During the implementation process, if difficulties or obstacles arise, relevant agencies and units shall promptly report to the Ministry of Finance for examination and specific guidance./.
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Place of Receipt: |
DEPUTY MINISTER |
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