Circular No. 4378-TC/TCDN of 1997 of the Ministry of Finance detailing the procedures for recognizing debts and repaying state budget capital as well as submitting usage fees for contributed capital by Vietnamese parties in joint ventures with foreign entities. The document adjusts certain provisions regarding procedures and rates for usage fees on joint venture contributions.
적용 범위
["Ministries", "People's Committees of provinces and centrally governed cities"]
핵심 사항
- "Assets from state budget funds when contributing to joint ventures do not require debt recognition and state budget repayment procedures but only the submission of usage fee payments" (Point 1)
- "The difference between the asset valuation by the Valuation Board and the recorded capital amount in the accounting books shall be accounted for as an increase or decrease in the corresponding source of capital after approval by the financial authority" (Point 2)
- "State budget capital that has been subject to usage fee payments in joint venture activities does not need to be recalculated in business operations at the enterprise" (Point 3)
- "The time for calculating usage fees for joint venture contributions is calculated from the date of transferring capital to the joint venture" (Point 4)
- "The rate of usage fees applied ranges from 0.2% to 0.5% per month according to the industry of the joint venture enterprise as specified in the usage fee table attached to Circular No. 33 TC/TCT dated June 13, 1997" (Point 5)
🌐 이 문서의 사회적 영향
- "To assist Vietnamese parties in joint ventures with foreign entities in fulfilling their financial obligations"
- "To promote joint venture capital contributions by reducing administrative procedures"
- "To increase state budget revenue through the application of new usage fee rates"
- "It may cause difficulties for enterprises unfamiliar with the new regulations on usage fee rates"
❓ 자주 묻는 질문
What procedures must be followed for state budget funds when contributing to joint ventures?
No need to follow debt recognition and state budget repayment procedures, only the submission of usage fee payments is required.
How is the difference between the asset valuation by the Valuation Board and the recorded capital amount in the accounting books handled?
It is accounted for as an increase or decrease in the corresponding source of capital after approval by the financial authority.
Does state budget capital that has been subject to usage fee payments in joint venture activities need to be recalculated?
No, state budget capital that has been subject to usage fee payments in joint venture activities does not need to be recalculated in business operations at the enterprise.
When does the calculation of usage fees for joint venture contributions begin?
From the date of transferring capital to the joint venture.
What is the rate of usage fees applied for joint venture contributions?
Applied at a rate ranging from 0.2% to 0.5% per month according to the industry of the joint venture enterprise as specified in the usage fee table attached to Circular No. 33 TC/TCT dated June 13, 1997.
전문
|
MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
|
Number: 4378-TC/TCDN |
Hanoi, December 8, 1997 |
LETTER
OF THE MINISTRY OF FINANCE NUMBER 4378 TC/TCDN DATED DECEMBER 8, 1997
ON THE ACCEPTANCE OF DEBTS AND REPAYMENT OF STATE CAPITAL BY VIETNAMESE PARTIES IN JOINT VENTURE ENTERPRISES WITH FOREIGN PARTIES
Respectfully submitted to:
- Ministries and agencies equivalent to ministries, and agencies under the Government.
- People's Committees of provinces and centrally governed cities.
The Ministry of Finance issued Circular No. 19-TC/TCDN dated June 9, 1992, "Guidelines for Implementing the Obligation to Accept Debts and Repay State Capital of Vietnamese Parties in Joint Venture Enterprises and Business Cooperation Contracts with Foreign Parties."
To implement Decree No. 59/CP dated October 3, 1996 of the Government on "Issuing Financial Management Regulations and Accounting Practices for State-Owned Enterprises" and Decree No. 85/CP dated December 17, 1996 of the Government detailing the implementation of the Ordinance on Rights and Obligations of Domestic Organizations Leased Land by the State, the Ministry of Finance has issued several circulars, including:
- Circular No. 75 TC/TCDN dated November 12, 1996 guiding the management and use of capital and assets in state-owned enterprises.
- Circular No. 76 TC/TCDN dated November 15, 1996 guiding the revenue, cost, and product/service pricing system at state-owned enterprises.
- Circular No. 70 TC/TCDN dated November 5, 1996 guiding the distribution of post-tax profits and the management of funds in state-owned enterprises.
- Circular No. 33 TC/TCT dated June 13, 1997 guiding the collection and use of state budget capital.
- Circular No. 70 TC/QLCS dated October 7, 1997 guiding the payment of land lease fees and joint venture capital contributions using the value of land use rights of domestic organizations according to Decree No. 85/CP dated December 17, 1996.
The contents of the above documents have adjusted the provisions in Circular No. 19 TC/TCĐN dated June 9, 1992 of the Ministry of Finance.
Regarding the acceptance of debts, repayment of state capital, and payment of capital usage fees by Vietnamese parties in joint venture enterprises with foreign parties, the Ministry of Finance provides additional detailed guidance as follows:
1. Assets belonging to state capital (or originating from the state budget) when contributed to joint ventures, the enterprise does not need to go through debt acceptance and state budget repayment procedures but only needs to pay the capital usage fee.
2. If the asset contributed to the joint venture is appraised by the Valuation Board at a higher or lower value than the recorded capital in the accounting books, the difference will be accounted for as an increase or decrease in the corresponding capital source after approval by the financial authority.
3. The portion of state capital that has been charged a capital usage fee in joint venture activities shall not be subject to a capital usage fee in business operations within the enterprise.
4. The time for calculating the capital usage fee for joint venture capital contributions is calculated from the date the capital is transferred to the joint venture.
5. The rate of capital usage fee applied ranges from 0.2% to 0.5% per month based on the industry of the joint venture enterprise as specified in the capital usage fee table attached to Circular No. 33 TC/TCT dated June 13, 1997, replacing the annual rate of 3% as stipulated in Circular No. 19 TC/TCĐN dated June 9, 1992 of the Ministry of Finance.
During the implementation process, if there are any difficulties, ministries, local people's committees, and state-owned enterprises should report them to the Ministry of Finance for study and resolution.
Pham Van Trong
(Signed)
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