Circular No. 29/2002/TT-BTC Amending and Supplementing Circular No. 111/1999/TT/BTC guiding the financial regime for the State Bank of Vietnam dated September 17, 1999

CIRCULAR

OF THE MINISTRY OF FINANCE NUMBER 29/2002/TT-BTC DATE March 26, 2002
AMENDING AND COMPLEMENTING CIRCULAR NUMBER 111/1999/TT-BTC DATE September 17, 1999
GUIDELINES IMPLEMENTING THE FINANCIAL REGIME FOR
STATE BANK OF VIETNAM

Pursuant to Decree No. 100/1998/ND-CP dated December 10, 1998 of the Government on the financial regime of the State Bank of Vietnam, Circular No. 4152/VPCP-KTTH dated September 10, 2001 of the Government Office regarding amendments to Decree No. 100/1998/ND-CP, the Ministry of Finance supplements and amends Circular No. 111/1999/TT-BTC dated September 17, 1999 guiding the implementation of the financial regime for the State Bank of Vietnam as follows:

1/ Clause on expenses for protecting currency as specified in point 2.1.2.d Section III.B is amended as follows:

The expenses for protecting currency include:

+ Allowances provided according to the prescribed regulations for guards and security personnel guarding the vaults, transporting money, gold, silver, precious stones, and payment instruments.

+ Expenses for hiring external organizations to inspect and authenticate counterfeit currency.

2/ Point 2.2 Section III.B - Expenses for staff, civil servants, officials, contractual employees, and rewards and welfare benefits are amended as follows:

- Paragraph 2 is amended: Lunch expenses for staff, civil servants, and officials present at work during the year, including those responsible for mass organizations at the State Bank of Vietnam. The monthly expense per person shall be decided by the Governor of the State Bank but shall not exceed the minimum wage stipulated for civil servants.

- Paragraph 5 is amended: Regular and extraordinary rewards and welfare benefits for groups and individuals among staff, civil servants, and officials of the State Bank of Vietnam. The total annual expenditure for these two items equals the total payroll implemented in the year (including the salaries of those responsible for mass organizations at the State Bank of Vietnam). 3/ Point 2.5 Section III.B - Expenses for hardship allowances and termination benefits are amended as follows:

Hardship allowances and termination benefits: the objects and amounts are implemented according to the provisions of the State. Specifically, hardship allowances will only be implemented when the State decides to provide hardship allowances to civil servants receiving salaries from the State budget. The State Bank of Vietnam may account for hardship allowances for its staff under this provision if the State budget does not allocate funds.

4/ Point 2.6.b Section III.B - Expenses for postal and telecommunication fees are amended as follows:

These expenses include postal fees, telecommunication charges, telegrams, leased lines, telex, fax... paid according to invoices from postal agencies.

The provision of office phones at home and mobile phones for relevant personnel shall be carried out according to current State regulations.

5/ Supplementing and amending some expenses at point 2.6 Section III.B as follows:

- Expenses for tendering and treasury bill payments: these expenses are implemented according to the Ministry of Finance's guidelines on issuing treasury bills.

- Expenses for staff directly and indirectly involved in placing advertising contracts for the Banking Times and Banking Magazine. The maximum expense shall not exceed 40% of the value of the advertising contract.

- Removing the education support expense mentioned in paragraph 7 point 2.6.h Section III.B.

6/ Removing point 2.7.c Section III.B - minor construction expenses

7/ Supplementing an expense item in point 2.10 Section III.B as follows:

- Annual settlement bonus expenses decided by the Governor of the State Bank regarding the objects and amount of the bonus.

Point 2

8/ Point 2 Section IV is amended as follows:

Quarterly, the State Bank shall temporarily remit to the State Budget seventy percent of the actual financial revenue and expenditure difference of the quarter within the first ten days of the following quarter.

At the end of the fiscal year, within ten days from the date when the annual financial settlement report is approved by the Governor, the State Bank shall be responsible for remitting to the State Budget the entire amount of the annual financial revenue and expenditure difference that must be paid according to the settlement figures. The annual financial revenue and expenditure difference that must be remitted to the State Budget

for the year will be officially determined based on the results of the National Audit Office's examination. In case the amount already remitted exceeds the amount required to be remitted according to the official conclusion of the National Audit Office, the excess amount remitted will be deducted from the amount to be remitted in the following year. Conversely, if the amount already remitted is less than the amount required to be remitted according to the official conclusion of the National Audit Office, the State Bank shall pay the remaining difference within ten days from the date of the audit conclusion.

This Circular takes effect from January 1, 2002. During implementation, if there are any difficulties, the State Bank is requested to report them to the Ministry of Finance for study, consideration, and resolution.