This Circular guides the method of withholding and remitting 10% of the profit of the State Bank to the local budget according to Resolution No. 138 - HĐBT 1983, applicable to the Central Bank and branches of the State Bank. The objective is to ensure fair distribution of profits based on the volume of capital mobilization and credit of each locality.
적용 범위
The Central Bank, branches of the State Bank, Provincial Finance Departments, cities, and centrally administered municipalities.
핵심 사항
- The Central Bank → determines the total amount of profit to be withheld and remitted to the local budget and allocates it to each locality according to the annual plan.
- Quarterly, the Central Bank → withholds the amount of profit to be remitted to the local budget according to the plan and transfers it to the State Bank branches in provinces, cities, and centrally administered municipalities.
- Local State Bank → receives and immediately remits the transferred amount to the local budget.
- Local Financial Authorities → cooperate with local banks to assist the People's Committee in implementing credit, cash, and savings plans according to the Central Bank's plan.
- At year-end, the Central Bank and the Ministry of Finance → calculate and determine the actual profit realized and distributed for remittance to the local budget.
🌐 이 문서의 사회적 영향
- Positive impact: Ensures fair withholding and remittance based on the volume of capital mobilization and credit of each locality.
- Negative impact: May impose management cost burdens on the Central Bank and its branches.
❓ 자주 묻는 질문
How does the Central Bank determine profit?
The Central Bank determines the total amount of profit to be withheld and remitted to the local budget based on the annual profit targets set by the State.
What is the withholding period for profit?
Quarterly, within the first 15 days of the first month of each quarter, the Central Bank withholds the profit to be remitted and transfers it to the State Bank branches.
What obligations do local banks have?
Local banks have the obligation to receive and immediately remit the transferred amount from the Central Bank to the local budget.
What actions must local financial authorities take?
Local financial authorities must cooperate with local banks to assist the People's Committee in implementing credit, cash, and savings plans according to the Central Bank's plan.
Is there any adjustment during the year?
At year-end, the Central Bank and the Ministry of Finance will calculate and determine the actual profit realized and distributed for remittance to the local budget. Any shortfall or excess compared to the plan will be adjusted for the following year.
전문
JOINT CIRCULAR
Guidelines for deducting and remitting 10% of the profit of the State Bank to local budgets according to Resolution No. 138-HĐBT dated November 19, 1983 of the Council of Ministers.
____________________________
In implementing Resolution No. 138-HĐBT dated November 19, 1983 of the Council of Ministers on improving the system of budget decentralization to localities, the Ministry of Finance and the State Bank provide specific guidelines for deducting and remitting 10% of the profit of the State Bank to local budgets as follows:
I. METHODS FOR DEDUCTING AND REMITTING 10% OF THE PROFIT OF THE STATE BANK TO LOCAL BUDGETS:
1/ Principles for planning deductions and remittances.
The operations of the State Bank are managed and accounted for centrally and uniformly throughout the industry, fulfilling its obligations to the state budget at the Central Bank. Therefore, the profit to be deducted and remitted to the provincial, municipal, and special zone budgets under the central government (hereinafter referred to as the local budget) is 10% of the total profit that must be remitted to the state budget in the year for the entire banking industry.
The allocation level for each province, city, and special zone directly under the central government is determined based on the volume of capital mobilized and credit capital of each local bank.
Annually, the Central Bank bases its determination of the total profit of 10% to be remitted to the local budget on the profit submission targets set by the state, and calculates the projected allocation plan for profit deductions to be remitted to the budget for each locality (both annually and quarterly), sending it to the Ministry of Finance. After the Ministry of Finance agrees with this allocation plan, it will record it in the revenue collection tasks of each locality and notify the Finance Departments of provinces, cities, and special zones directly under the central government to implement it.
2/ Procedure for deductions and remittances.
Quarterly, within the first 15 days of the first month, the Central Bank deducts the amount of profit required to be remitted to the local budget according to the plan and transfers it to the branches of the State Bank in provinces, cities, and special zones, while simultaneously informing the local Finance Departments. The local State Bank, upon receiving the transferred funds from the Central Bank, must immediately process the payment into the local budget.
To ensure the correct implementation of the deduction and remittance of 10% of the profit of the State Bank to the local budget, local finance agencies must coordinate with local banks to assist the People's Committees of provinces, cities, and special zones in directing the implementation of credit plans, cash management, savings, and other banking operations according to the approved plans of the Central Bank.
During the implementation process, finance agencies must base their actions on the annual budget estimate announcements from the Ministry of Finance, continuously monitor and urge local banks to ensure timely and full remittance of the profit required to be paid to the local budget as transferred by the Central Bank, in accordance with regulations.
At the end of each year, after the final settlement of the entire banking industry, the Central Bank will jointly with the Ministry of Finance calculate and determine the actual profit realized and the distribution for remittance to the local budget. If the profit temporarily deducted according to the plan is less than the profit required to be remitted according to the final settlement of the year, the shortfall will be carried forward or included in the next year's remittance plan, whereas if there is an excess, the excess will be reduced from the next year's remittance plan.
II. IMPLEMENTATION PROVISIONS
This Circular takes effect from January 1, 1984. Local finance and banking agencies need to cooperate closely and regularly to organize the implementation of the contents stipulated in this Circular.
During the implementation process, any issues encountered should be promptly reported to the relevant ministries for resolution./.
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