Circular No. 23/2025/TT-BTC amends and supplements regulations on accounting for refunds of state budget revenues and recovery of value-added tax refunds. This Circular takes effect from July 1, 2025.
Scope of application
State Treasury
Key points
- The State Treasury shall account for a reduction in state budget revenue in the current year or the previous year when a refund decision is issued in the current year or the previous year.
- The State Treasury shall account for a reduction in value-added tax refund expenditure of that fiscal year when recovering a value-added tax refund paid in that fiscal year.
🌐 Social impact of this document
- Positive impact: Reduces the burden of accounting procedures for the State Treasury, enhancing financial management efficiency.
- Negative impact: Requires time for training and implementation, potentially causing initial difficulties for related units.
❓ Frequently asked questions
When can the State Treasury account for a reduction in state budget revenue?
When a refund decision is issued in the current year, the State Treasury will account for a reduction in state budget revenue in the current year (Article 1, Clause 1b).
What should the State Treasury do if the refund decision is issued in the previous year?
In this case, the State Treasury will account for a reduction in state budget revenue of the previous year if the refund is made within the period for adjusting the final accounts; or account for a reduction in state budget revenue in the current year if the refund is made after the period for adjusting the final accounts (Article 1, Clause 1b).
When can the State Treasury account for the recovery of value-added tax refunds?
When the amount recovered from value-added tax refunds paid in a fiscal year is determined, the State Treasury will account for a reduction in value-added tax refund expenditure of that fiscal year (Article 1, Clause 1c).
When does this Circular take effect?
This Circular takes effect from July 1, 2025 (Article 2).
How should the State Treasury implement the new regulations?
The State Treasury must comply with the regulations on accounting for refunds and recovery of value-added tax refunds as stipulated in Article 1 of this Circular, including the specific methods of accounting for each situation (Article 1).
Full text
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BFINANCIAL REGULATIONDECISION Number: 23/2025/TT-BTC |
SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness Hanoi, May 9, 2025 |
CIRCULAR
Amending and supplementing certain Articles of Circular No. 328/2016/TT-BTC dated December 26, 2016, issued by the Minister of Finance, guiding the collection and management of state budget revenues through the State Treasury, which has been amended and supplemented by certain Articles pursuant to Circular No. 72/2021/TT-BTC dated August 17, 2021, issued by the Minister of Finance
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Pursuant to the State Budget Law dated June 25, 2015;
Pursuant to the Law on Tax Administration dated June 13, 2019;
Pursuant to the Law amending and supplementing certain Articles of the Securities Law, the Accounting Law, the Independent Audit Law, the State Budget Law, the Management and Use of Public Assets Law, the Tax Administration Law, the Personal Income Tax Law, the National Reserve Law, and the Administrative Violation Handling Law dated November 29, 2024;
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. 11/2020/NĐ-CP dated January 20, 2020 of the Government on administrative procedures under the domain of State Treasury;
amending and supplementing certain forms of
Pursuant to Decree No. 91/2022/NĐ-CP dated October 30, 2022, issued by the Government, amending and supplementing certain Articles of Decree No. 126/2020/NĐ-CP dated October 19, 2020, issued by the Government, detailing certain provisions of the Tax Administration Law;
Pursuant to the Decree No. 29/2025/NĐ-CP dated February 24, 2025 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
Pursuant to the proposal of the Director of the State Treasury,
The Minister of Finance issues this Circular amending and supplementing certain Articles of Circular No. 328/2016/TT-BTC dated December 26, 2016, issued by the Minister of Finance, guiding the collection and management of state budget revenues through the State Treasury, which has been amended and supplemented by certain Articles pursuant to Circular No. 72/2021/TT-BTC dated August 17, 2021, issued by the Minister of Finance.
Article 1. Amending and supplementing certain paragraphs of Article 10 of Circular No. 328/2016/TT-BTC dated December 26, 2016, issued by the Minister of Finance, guiding the collection and management of state budget revenues through the State Treasury (Circular No. 328/2016/TT-BTC), which has been supplemented at point a, paragraph 9 of Article 1 of Circular No. 72/2021/TT-BTC dated August 17, 2021, issued by the Minister of Finance (Circular No. 72/2021/TT-BTC)
1. Amending paragraph 1b of Article 10 of Circular No. 328/2016/TT-BTC, which has been supplemented at point a, paragraph 9 of Article 1 of Circular No. 72/2021/TT-BTC, as follows:
"1b. Based on the date of the decision to refund on the refund order for state budget revenue, the State Treasury shall record the refund of state budget revenue as follows:
- For decisions to refund issued in the current year: reduce state budget revenue in the current year (in detail according to the budget item of the refund amount).
- For decisions to refund issued in the previous year: if the refund is made during the period of adjusting the final accounts, reduce state budget revenue of the previous year; if the refund is made after the period of adjusting the final accounts, reduce state budget revenue in the current year (in detail according to the budget item of the refund amount)."
2. Supplementing paragraph 1c after paragraph 1b of Article 10 of Circular No. 328/2016/TT-BTC, which has been supplemented at point a, paragraph 9 of Article 1 of Circular No. 72/2021/TT-BTC, as follows:
"1c. Recording the recovery of value-added tax refunds after they have been refunded according to tax laws:
The amount recovered from value-added tax refunds paid in which fiscal year shall be recorded as a reduction in value-added tax refunds of that fiscal year."
Article 2. Implementation clause
This Circular takes effect from July 1, 2025.
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Place of Receipt:
- Central Party Office and Party Committees; - National Assembly's Office; - President's Office; Government Office; - Supreme People's Court; - Supreme People's Procuracy; - State Audit Agency; - Ministries, agencies equivalent to ministries, and government agencies; - Central Agencies of Social Organizations; - Provincial People's Committees; - Departments of Finance of provinces and centrally governed cities; - Tax offices, customs offices, State Treasuries in regions; - Ministry of Finance Portal; - Department of Legal Normative Documents Inspection (Ministry of Justice); Official Gazette; - Government Portal: - Ministry of Finance Portal; - File: VT, State Treasury (240 copies) |
DEPUTY MINISTER DEPUTY MINISTER (Signed) Cao Anh Tuấn |
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