Circular No. 15651/BTC-TCDN guides the handling of overdue debts without collateral of state-owned commercial banks, stipulates repayment plans and methods for accounting the value of lost debts to enterprises.
적용 범위
State-owned commercial banks, state companies converted ownership according to the Enterprise Law, relevant state management agencies
핵심 사항
- Enterprises shall develop a repayment plan for overdue debts without collateral and submit it to the state-owned commercial bank (Point 1).
- The value of lost debt is determined by the difference between the book value of the debt and its actual value after revaluation, but not exceeding the approved value of the lost debt from the revaluation result (Article 2a).
- If state-owned companies converted ownership inherit all outstanding debts, they must still accept and repay debts to state-owned commercial banks (Point 2b).
- Companies that have not yet determined enterprise value or have determined but not announced, shall reduce bank debt and increase company income (Article 2c).
- State-owned companies dissolved or bankrupted cannot have their lost debts written off based on the revaluation results (Point 3).
🌐 이 문서의 사회적 영향
- To help enterprises and state-owned commercial banks effectively handle overdue debts, reducing financial burdens for enterprises.
- State-owned companies converted ownership must continue to bear responsibility for repaying debts to state-owned commercial banks if inheriting all outstanding debts.
- The state budget will not compensate state-owned commercial banks for the value of lost debts of state-owned companies converted ownership.
❓ 자주 묻는 질문
What should enterprises do to handle overdue debts?
Enterprises must develop a repayment plan and submit it to the state-owned commercial bank; upon approval, they shall sign a contract to accept the value of the debt without collateral.
How is the value of lost debt determined?
The value of lost debt is the difference between the book value of the debt and its actual value after revaluation, but not exceeding the approved value of the lost debt from the revaluation result.
Must state-owned companies converted ownership accept debts from state-owned commercial banks?
If inheriting all outstanding debts, the converted company must still accept and repay debts to state-owned commercial banks.
전문
LETTER
OF THE MINISTRY OF FINANCE NO. 15651/BTC-TCDN
DATED DECEMBER 2, 2005 ON THE HANDLING OF NON-COLLATERALIZED OVERDUE DEBTS
DEPOSIT WITHOUT COLLATERAL
OF STATE COMMERCIAL BANKS
Unit: Equivalent USD: - Ministries, ministerial-level agencies, government agencies
- PROVINCES AND URBAN AREAS UNDER THE CENTRAL GOVERNMENT
Pursuant to the Prime Minister's Directive No. 1215/TTg-KTTH dated May 24, 2005 on handling non-collateralized overdue debts of state commercial banks, the Ministry of Finance guides the accounting treatment and the establishment of debt repayment plans as follows:
1. Based on the business operation plan, enterprises shall establish a repayment plan for non-collateralized overdue debts that have been re-evaluated and submit it to the state commercial bank that provided the loan. After the state commercial bank approves the repayment plan, the enterprise and the state commercial bank shall sign a debt acceptance contract for the value of the non-collateralized overdue debt after re-evaluation.
2. The handling of the value of non-collateralized overdue debts that have been lost is as follows:
a. The value of non-collateralized overdue debts that have been lost (hereinafter referred to as the value of lost debts) is determined by the difference between the value of non-collateralized overdue debts recorded in the books of the enterprise (including debts under agreements not yet accounted for before re-evaluation) and the actual value of non-collateralized overdue debts after re-evaluation, but shall not exceed the value of lost debts determined according to the results of the re-evaluation of non-collateralized overdue debts approved by the competent authority.
b. For state-owned companies undergoing ownership conversion through transfer, sale, or shareholding reform, the following applies:
- State-owned companies that have converted and registered operations under the Enterprise Law:
If the total debt of the state-owned company transferred to the joint-stock company or the buyer of the state-owned company or the recipient of the state-owned company (hereinafter collectively referred to as the post-conversion enterprise) excludes the value of lost debts, then the post-conversion enterprise does not need to accept the debt from the state commercial bank for the value of lost debts.
In cases where the post-conversion enterprise inherits all debts of the state-owned company without excluding the value of non-collateralized overdue debts that have been lost, the post-conversion enterprise must assume responsibility for inheriting and repaying the value of lost debts to the state commercial bank. The state budget will not compensate the state commercial bank for this value of lost debts.
- State-owned companies currently undergoing ownership conversion and have announced the enterprise value:
+ If the total debt of the state-owned company included in the enterprise value excludes the value of lost debts, then the state-owned company does not need to accept the debt from the state commercial bank for the value of lost debts.
+ If the total debt of the state-owned company included in the enterprise value does not exclude the value of lost debts, the state-owned company shall reduce its debt to the bank in its accounts while increasing its liability to the state budget equal to the value of lost debts. The state-owned company shall pay back the state budget this amount after issuing shares for the first time (before registering business operations under the Enterprise Law), to the address:
Department of Corporate Finance - State Enterprise Restructuring and Shareholding Fund. Account 942.01 at the Treasury Bank Exchange.
In cases where the state-owned company incurs losses during the period from announcing the enterprise value to registering operations under the Enterprise Law, the value of lost debts shall be reduced from the debt to the bank and increased in the company's income.
- State-owned companies that have not yet determined the enterprise value for shareholding reform, transfer, or sale, or have determined the enterprise value but have not announced it, the value of lost debts shall be reduced from the bank debt and increased in the company's income.
c. For state-owned companies undergoing other restructuring forms (excluding state-owned companies being dissolved or bankrupt), the company must accept and repay the actual remaining value of non-collateralized overdue debts with state commercial banks (creditors).
The amount of value lost from outstanding debts without collateral shall be recorded as a reduction in liabilities and an increase in the company's income.
3. For state-owned enterprises that have been approved for the results of re-evaluating outstanding debts without collateral, if they have not been restructured according to the forms specified in the restructuring plan approved by the Prime Minister and instead proceed with liquidation or bankruptcy, they shall not implement the write-off of lost debts based on the re-evaluation results of outstanding debts without collateral.
State-owned enterprises undergoing liquidation shall follow the provisions set out in Section V of Circular No. 38/2005/TT-BTC dated May 18, 2005, issued by the Ministry of Finance, guiding the procedures, formalities, and financial handling when establishing new companies, restructuring, and liquidating state-owned enterprises.
Enterprises undergoing bankruptcy shall follow the provisions of the Enterprise Bankruptcy Law.
4. Commercial banks shall cooperate with state-owned enterprises to handle the results of re-evaluating outstanding debts without collateral in accordance with the provisions of this circular and current laws and regulations.
During the implementation process, if there are any difficulties, please promptly report them to the Ministry of Finance for consideration and resolution.
Deputy Minister
Vice Minister
Le Thi Bang Tam
관계도
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