Circular No. 12/2019/TT-BTC on the cost of using state treasury funds from the state budget

CIRCULAR

Regulations on the cost of using state treasury funds
of the state budget

        Pursuant to the State Budget Law dated June 25, 2015;

        Pursuant to the Public Debt Management Law dated November 23, 2017;

        Pursuant to Government Decree No. 24/2016/NĐ-CP dated April 5, 2016 on the regime for managing state treasury funds;

        Pursuant to Government Decree No. 163/2016/NĐ-CP dated December 21, 2016 on detailed implementation of certain provisions of the State Budget Law;

        Pursuant to Government Decree No. 93/2018/NĐ-CP dated June 30, 2018 on management of local government debt;

        Pursuant to Government Decree No. 94/2018/NĐ-CP dated June 30, 2018 on public debt management operations;

        Pursuant to Decree No. 87/2017/NĐ-CP dated July 26, 2017, issued by the Government, stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

        At the proposal of the General Director of the State Treasury;

        The Minister of Finance hereby promulgates this Circular on the cost of using state treasury funds of the state budget.

        Article 1. Scope of Regulation

        This Circular stipulates the cost of using state treasury funds when the central budget and provincial budgets temporarily borrow or borrow from the state treasury.

        Article 2. Applicability

        1. Ministry of Finance.

        2. People's Committees of provinces and centrally governed cities.

        3. State Treasury; State Treasuries of provinces and centrally governed cities.

        4. Departments of Finance of provinces and centrally governed cities.

        5. Organizations and individuals related to temporary borrowing and borrowing from the state treasury.

        Article 3. Cost of using state treasury funds and overdue cost of using state treasury funds

        1. Cost of using state treasury funds

        The central budget and provincial budgets shall be responsible for paying the cost of using state treasury funds to the State Treasury on a monthly basis at a rate of 0.10% per month (based on a month with 30 days), no later than the 10th day of the following month, and shall be calculated as follows:

           In which, the actual number of days of temporary borrowing, borrowing in the month (including holidays) is counted from the date of withdrawal (for the first period of calculating the cost of using state treasury funds) or the first day of the month (for subsequent periods of calculating the cost of using state treasury funds) to the last day of the month for calculating the cost of using state treasury funds or the day before the repayment of the temporary borrowing, borrowing from the state treasury (for the final period of calculating the cost of using state treasury funds).

        2. Overdue cost of using state treasury funds

        In case the central budget and provincial budgets use the temporary borrowing, borrowing from the state treasury beyond the repayment deadline, the central budget and provincial budgets shall be responsible for paying the overdue cost of using state treasury funds at a rate of 150% of the cost of using state treasury funds specified in Clause 1 of this Article. The overdue cost of using state treasury funds shall be paid once to the State Treasury upon recovery of the overdue temporary borrowing, borrowing and shall be calculated as follows:

        Number of days

In which, the number of days of overdue temporary borrowing, borrowing (including holidays) is counted from the due date of repayment of the temporary borrowing, borrowing from the state treasury until the day before the actual repayment of the overdue temporary borrowing, borrowing.

        Article 4. Provisions on subsequent advances

        1. For advance appropriations from the state budget of the central government and provincial budgets approved before the effective date of this Circular but withdrawn after such date shall be subject to the rates for using state funds and late fees for using state funds (if applicable) as prescribed in this Circular.

        2. The outstanding loans from the state budget of the central government shall be subject to the rates for using state funds and late fees for using state funds (if applicable) as prescribed in this Circular.

        Article 5. Effective Date

        1. This Circular takes effect from May 1, 2019.

        2. The provisions on the rates for using state funds and late fees for using state funds in Clause 5, Article 1 of Circular No. 06/2018/TT-BTC dated January 24, 2018 of the Ministry of Finance amending and supplementing some articles of Circular No. 30/2017/TT-BTC dated April 18, 2017 of the Ministry of Finance on advance appropriations from state funds for the state budget are hereby abolished.

         3. The State Treasury and relevant agencies, units, organizations, and individuals are responsible for implementing this Circular./.