Circular No. 12/2000/TT-BTC guiding the bonus mechanism for exceeding the budget estimate of value-added tax in 1999

CIRCULAR

Guidelines for the mechanism of rewards for exceeding the budgeted revenue from value-added tax in 1999

Pursuant to Decision No. 248/1998/QĐ-TTg dated December 24, 1998 of the Prime Minister, Circular No. 190/1998/TT-BTC dated December 31, 1998, and Circular No. 58/1999/TT-BTC dated May 20, 1999 guiding the implementation of certain points and measures for managing the state budget in 1999 issued by the Ministry of Finance, Article 3. Method of submitting reports by credit rating service enterprises

Pursuant to Decision No. 60/QĐ-TTG dated January 17, 2000 of the Prime Minister on the reward mechanism for exceeding the budgeted revenue from value-added tax in 1999; the Ministry of Finance hereby provides detailed guidelines on certain points regarding rewards for exceeding the budgeted revenue from value-added tax in 1999 as follows: 1. Principles and basis for rewarding:

a) Value-added tax on domestic production is eligible for rewards including:

The portion of value-added tax on domestic production.

The portion of tax revenue from accumulated business income carried over from 1998.

The amount of tax subject to reward is the actual tax paid to the State Treasury, excluding taxes on value-added or business income recorded outside the initial budget, and taxes retained entirely by the central government or allocated back to localities (such as advertising revenue from television, lottery revenue, etc.).

b) The basis for calculating excess revenue is the value-added tax revenue recorded in the budgeted revenue that has been assigned by the Ministry of Finance, including the additional 5% value-added tax increase compared to the local budget as stipulated in Circular No. 190/1998/TT-BTC dated December 31, 1998 and Circular No. 58/1999/TT-BTC dated May 20, 1999 of the Ministry of Finance.

2. Reward levels: Implemented according to the provisions of Decision No. 60/QĐ-TTg dated January 17, 2000 of the Prime Minister. Specifically: Ministry of Finance.

For provinces and centrally-administered cities with excess revenue up to 10 billion VND, they will be rewarded 100% of the excess revenue. For excess revenue above 10 billion VND, an additional 50% reward will be given for the amount exceeding 10 billion VND.

For Dak Lak Province (with a large increase in self-migrated population) and provinces and centrally-administered cities in Central Vietnam affected by severe floods in November and December 1999 (Da Nang City, Quang Binh, Quang Tri, Thua Thien-Hue, Quang Nam, Quang Ngai, Binh Dinh, Phu Yen, Khanh Hoa Provinces), they will be rewarded 100% of the excess budgeted revenue.

3. Use and settlement of reward money:

Based on the amount of reward received from the central budget, provinces and centrally-administered cities shall proactively consider rewarding part of it to lower-level budgets (districts, communes). The reward money may be used for:

Investing in building economic and social infrastructure projects in the locality;

Mitigating flood damage; Supplementing and supporting capital for state-owned enterprises, particularly those engaged in effective production and business activities, especially in sectors encouraged such as export, processing and producing agricultural products, food, etc.;

The excess revenue reward shall be accounted for and settled in the state budget for the year 2000.

4. Implementation clauses:

Reporting and proposing to allocate rewards shall be conducted in accordance with the guidance provided at point 6.3, Clause 6, Part IV of Circular No. 103/1998/TT-BTC dated July 18, 1998 of the Ministry of Finance. This circular takes effect from the date of issuance. All provisions contrary to this circular are abolished.

Provincial People's Committees and centrally-administered city people's committees shall implement this decision based on Decision No. 60/QĐ-TTg dated January 17, 2000 of the Prime Minister and the guidance provided in this circular./.

4. Implementation provisions:

The reporting and proposal for award extraction shall be carried out in accordance with point 6.3 clause 6 Part IV of Circular No. 103/1998/TT-BTC dated July 18, 1998 issued by the Ministry. This Circular takes effect from the date of signature. All provisions contrary to this Circular shall be abolished.Ministry of Finance.

Provincial People's Committees directly under the Central Government shall organize the implementation based on Decision No. 60/QĐ-TTg dated January 17, 2000 of the Prime Minister and the guidance provided in this Circular./.

The People's Committees of the provinces and centrally governed cities shall organize the implementation based on Decision No. 60/QD-TTg dated January 17, 2000 of the Government Prime Minister and the guidance provided in this Circular./.