Circular No. 51/2026/TT-BTC Guiding the Preparation of State Financial Reports

CIRCULAR

Guidelines for Preparing the State Financial Report

Based on the Accounting Law No. 88/2015/QH13 amended and supplemented by the Law No. 56/2024/QH15;

Based on the National Budget Law No. 89/2025/QH15;

Based on the Government Organization Law No. 63/2025/QH15;

Based on the Local Administration Organization Law No. 72/2025/QH15;

Based on Circular No. 140/2026/NĐ-CP of the Government on State Financial Report;

Based on Circular No. 29/2025/NĐ-CP of the Government on Functions, Powers, and Organizational Structure of the Ministry of Finance, which has been amended and supplemented by Circular No. 166/2025/NĐ-CP;

In accordance with the request of the Director of the State Treasury;

The Minister of Finance promulgates this circular to guide the preparation of the State Financial Report.

Chapter I GENERAL PROVISIONS

Article 1. Scope of Application

This Circular guides the forms, preparation, submission, and verification for balance and reasonableness of the financial report; content and methods for preparing indicators on the state financial report; internal transactions to be excluded; adjustments to the state financial report; and verification of the preparation of the state financial report.

Article 2. Applicability

1. The Ministry of Finance.

2. Provincial Departments of Finance (hereinafter referred to as "Provincial Department of Finance").

3. People's Committees of communes, towns, and special zones (hereinafter referred to as "People's Committee at the Commune Level").

4. The highest-level accounting unit and independent accounting units under central, provincial, and commune levels.

Article 3. Hierarchical Preparation of State Financial Reports

1. The Ministry of Finance delegates to the State Treasury:

a) To organize the preparation of the national state financial report and the provincial state financial report in accordance with regulations.

b) To study, apply scientific and technological advancements, and professional teams to develop and upgrade information systems for preparing the state financial report, ensuring centralized, unified management, and ensuring smooth, timely, accurate operation while complying with legal provisions on data security and information protection.

2. The State Treasury in each region assists the State Treasury in preparing the provincial state financial report.

Chapter II SPECIFIC PROVISIONS ON THE REPORTING OF FINANCIAL INFORMATION

Article 4. Forms, Content of Financial Information Report for Preparing the National State Financial Report

1. The financial information report of the Ministry of Finance:

a) Prepared according to Form C01a/CCTT - Appendix I attached hereto, reflecting information on cash and cash equivalents, national budget revenues and expenditures, and other relevant financial information not reflected in the financial information reports of various units.

b) Prepared according to Form C01b/CCTT - Appendix I attached hereto, reflecting information on government debt through the issuance of debt instruments in the domestic market.

c) Prepared according to Form C02/CCTT - Appendix I attached hereto, reflecting information on state capital in enterprises under central management (excluding state capital in enterprises that have been consolidated into the consolidated financial report of higher-level accounting units within the reporting entities for preparing the national state financial report, excluding state capital in banks and financial institutions).

d) Prepared according to Form C03/CCTT - Appendix I attached hereto, reflecting information on state capital in banks and financial institutions under central management (excluding state capital in financial institutions that are independent accounting units within the reporting entities for preparing the national state financial report or where the financial reports are consolidated into the consolidated financial report of higher-level accounting units within the reporting entities for preparing the national state financial report, excluding the Social Insurance Fund, Health Insurance Fund, and Unemployment Insurance Fund; Special Reserve Fund).

d) Prepared according to Form C04/CCTT - Appendix I attached hereto, reflecting information on domestic debt of the government other than debt through government-issued debt instruments in the domestic market.

e) Prepared according to Form C05/CCTT - Appendix I attached hereto, reflecting information on foreign debt and guaranteed debt of the government.

g) Prepared according to Form C06/CCTT - Appendix I attached hereto, reflecting information on national reserves.

h) Prepared in accordance with guidance provided by the Accounting Standards for Domestic Tax Business to reflect information on cash (if any), receivables, payables; tax revenues and other domestic revenues managed by the tax authority.

i) Prepared in accordance with guidance provided by the Accounting Standards for Export and Import Tax and Other Revenues to reflect information on cash (if any), receivables, payables, tax revenues and other export and import revenues.

k) The consolidated financial report is prepared in accordance with the guidelines provided by Circular No. 108/2025/TT-BTC dated November 14, 2025 of the Minister of Finance on preparing the consolidated financial report of administrative and public sector units (hereinafter referred to as Circular No. 108/2025/TT-BTC) and prepared according to Form C08/CCTT - Appendix I attached hereto, reflecting detailed information on assets, expenses by category, special fixed assets (if any).

2. The financial information report of independent accounting units under central management includes:

a) In the case where the unit applies the Administrative and Public Sector Accounting Standards as guided in Circular No. 24/2024/TT-BTC dated April 17, 2024 of the Minister of Finance on guiding the Administrative and Public Sector Accounting Standards (hereinafter referred to as Circular No. 24/2024/TT-BTC): The financial report is prepared in accordance with Circular No. 24/2024/TT-BTC.

b) In the case where the unit applies a different accounting standard (not the Administrative and Public Sector Accounting Standards): The financial report is prepared according to the applicable accounting standards at the unit.

3. The financial information report of the highest-level central accounting units (excluding the Ministry of Finance) includes:

a) In the case where an entity prepares Consolidated Financial Statements in accordance with the guidance provided in Circular No. 108/2025/TT-BTC: The consolidated financial statements are prepared in accordance with the guidance provided in Circular No. 108/2025/TT-BTC and the Form C08/CCTT - Appendix I attached to this Circular to reflect detailed information on assets, costs by sector, special fixed assets (if applicable).

b) In the case where an entity prepares Consolidated Financial Statements in accordance with other provisions (not in accordance with the guidance provided in Circular No. 108/2025/TT-BTC): The consolidated financial statements are prepared in accordance with the guiding document applicable to the entity. Specifically, the State Bank of Vietnam shall additionally prepare a consolidated financial statement in accordance with the guidance provided in Circular No. 108/2025/TT-BTC and the Form C08/CCTT - Appendix I attached to this Circular to reflect detailed information on assets, costs by sector, special fixed assets (if applicable) (the scope of consolidation for these statements includes financial statements from public sector units under the State Bank of Vietnam that have not been consolidated into the consolidated financial statement of the State Bank of Vietnam in accordance with the guidance provided in Circular No. 84/2025/TT-NHNN dated December 31, 2025 by the Governor of the State Bank of Vietnam).

4. The Director of the National Treasury shall provide detailed instructions to the entities mentioned in Clause 1 and Clause 4 of this Circular for the provision of additional information (as necessary) to compile and prepare the national financial report.

5. Prior to January 15th each year, the National Treasury prepares and publicly discloses a list of the highest-level accounting units and independent accounting units at the central level from the previous fiscal year according to Form D01/DS - Appendix II attached to this Circular.
The National Treasury shall publicly disclose this list on the National Financial Accounting System's website.

Article 5. Forms, content of financial information reports for preparing the national financial report

1. Financial information reporting form of the National Treasury region:
The report is prepared in accordance with Form C01a/CCTT - Appendix I attached to this Circular to reflect information on cash and cash equivalents, local government revenue and expenditure, and other financial information of the State (including provincial and district budgets).

2. Financial information reporting form of the Department of Finance

a) The report is prepared in accordance with Form C07/CCTT - Appendix I attached to this Circular to reflect information on state capital in enterprises managed by the local government (excluding enterprises, financial organizations that are independent accounting units and fall under the category of entities providing information for preparing the provincial financial report or where the financial statements are consolidated into the consolidated financial statement of the highest-level accounting unit falling under the category of entities providing information for preparing the provincial financial report); local government debt.

b) The financial statements are prepared in accordance with the guidance provided in Circular No. 24/2024/TT-BTC (if it is an independent accounting unit) or consolidated financial statements according to the guidance provided in Circular No. 108/2025/TT-BTC and the report is prepared in accordance with Form C08/CCTT - Appendix I attached to this Circular to reflect detailed information on assets, costs by sector, special fixed assets (if applicable) (if it is a highest-level accounting unit).

3. Financial information reporting form of the tax authority: Prepared according to the guidance provided in the Domestic Tax Accounting System to reflect information on cash (if any), receivables, payables, tax revenue and other domestic revenues managed by the tax authority.

4. Financial information reporting form of independent accounting units at provincial and district levels (excluding the Department of Finance), including:

a) In the case where the unit applies the Administrative and Public Sector Accounting System: The financial statements are prepared in accordance with the guidance provided in Circular No. 24/2024/TT-BTC.

b) In the case where the unit applies a different accounting system (not the Administrative and Public Sector Accounting System): The financial statements are prepared according to the applicable accounting system at the unit.

5. Financial information reporting form of the highest-level accounting units (excluding the Department of Finance) at provincial and district levels, including:

a) In the case where the entity prepares consolidated financial statements in accordance with the guidance provided in Circular No. 108/2025/TT-BTC: The consolidated financial statements are prepared in accordance with the guidance provided in Circular No. 108/2025/TT-BTC and information is reported according to Form C08/CCTT - Appendix I attached to this Circular to reflect detailed information on assets, costs by sector, special fixed assets (if applicable).

b) In the case where the entity prepares consolidated financial statements in accordance with other provisions (not in accordance with the guidance provided in Circular No. 108/2025/TT-BTC): The consolidated financial statements are prepared according to the accounting system applied at the unit.

6. The Director of the National Treasury shall provide detailed instructions to the entities mentioned in Clause 2 and Clause 4 of this Circular for the provision of additional information (as necessary) to compile and prepare the provincial financial report.

7. Prior to January 15th each year, the Department of Finance prepares a list of highest-level accounting units and independent accounting units at the provincial level from the previous fiscal year, and the People's Committee of the district prepares a list of highest-level accounting units and independent accounting units at the district level from the previous fiscal year according to Form D01/DS - Appendix II attached to this Circular.
This list is submitted on the National Financial Accounting System website in the format notified by the National Treasury or sent as a paper copy to the regional National Treasury under management. The submission of the list on the National Financial Accounting System website shall be carried out in accordance with current laws and regulations governing electronic transactions, financial activities, and related guiding documents. Regional National Treasuries shall publicly disclose this list on the National Financial Accounting System's website.

Article 6. Submission of Financial Information Reporting

The financial information reporting is submitted through the National Accounting System's Electronic Information Platform (except for confidential reports) in the format announced by the State Treasury on its Electronic Information Platform of the National Accounting System according to the current legal provisions on electronic transactions, electronic transactions in financial activities and relevant guiding documents.
The submission of paper reports shall be applied only in cases where the reporting entity is submitting a confidential report or does not have an electronic signature, lacks Internet connection to conduct electronic transactions with the State Treasury as per regulations. Lower-level State Treasuries receive and store the reports according to legal provisions. The receipt and storage of confidential reports are conducted in accordance with the laws on state secrets protection.

Article 7. Receipt and Examination of Financial Information Reporting

1. Within three working days from the date of receipt, the State Treasury at all levels shall examine the report to ensure:

a) The received report is from an entity responsible for providing financial information to prepare the national financial report.

b) The report has been approved within the proper authority.

c) All required reporting forms are complete.

d) Aggregate indicators match the sum of detailed indicators.

e) Indicators presented on different reporting forms have identical absolute values.

g) Comparative data in this year's financial information report align with last year’s, and any differences must be explained.

2. If the report meets all examination criteria: The State Treasury at all levels shall notify successful receipt of the report.

3. If the report does not meet all examination criteria: The State Treasury at all levels shall reject the report and clearly state the reasons. Relevant agencies, entities, and organizations must cooperate, provide explanations, and resubmit the report within five working days from receiving the State Treasury's request.

Section 2 NATIONAL FINANCIAL REPORT

Article 8. Period for Preparing the National Financial Report

The national financial report is prepared according to the fiscal year period from January 1st to December 31st of the Gregorian calendar.

In case the provincial national financial report has a fiscal year that does not start on January 1st, the reason must be stated and the provincial national financial report shall not present comparative data for previous years' items.
Article 9. Content and Methodology for Preparing Indicators in the National Financial Report

1. Content

The content of indicators on the national financial report is guided by Appendix III attached to this Circular.
2. Methodology

a) The national financial condition report and the national financial activity result report are prepared in the following steps:

Step 1: Consolidate, review, and determine the data of internal transactions that must be excluded or adjusted according to Table B01/THCT - Appendix IV attached to this Circular.
Step 2: Aggregate, exclude, adjust (if necessary) indicators on the national financial condition report and the national financial activity result report as guided by Table B02/THCT - Appendix IV attached to this Circular. Among which:
+ Aggregation: Indicators on the national financial condition report and the national financial activity result report are aggregated from corresponding indicators in the financial information reporting within the scope of preparation; for the national financial report, additional indicators from provincial national financial reports are also aggregated. The content of aggregation is guided by Appendix V attached to this Circular.
+ Exclusion: Exclude data of internal transactions determined at Step 1 on the national financial condition report and the national financial activity result report.
+ Adjustment: Adjust opening period/previous period, in-period, closing period indicators on the national financial condition report and the national financial activity result report (if necessary).
Step 3: Consolidate and present indicators on the national financial condition report and the national financial activity result report according to the format specified in Decree No. 140/2026/NĐ-CP dated April 16, 2026 of the Government on the national financial report.
b) Cash Flow Statement
The cash flow statement is prepared using the indirect method. Indicators on this report are aggregated according to guidance in Appendix VI attached to this Circular. c) Explanation of the National Financial Report

Based on the national financial condition report, the national financial activity result report, the cash flow statement, the financial information reporting and the economic and social situation nationwide and at the local level, compile information for the explanation of the national financial report.
Indicators in the explanation of the national financial report are aggregated according to guidance in Appendix VII attached to this Circular.

c) Financial Report Explanation
Based on the State's Financial Situation Report, the State's Financial Activities Report, the Currency Flow Statement, the Information Provision and National Economic-Social Situation Report of the entire country and localities to synthesize information in the Financial Report Explanation.
The indicators in the Financial Report Explanation are synthesized according to the guidance in Appendix VII attached hereto.
The inspection agency shall make a decision on the inspection, specifying the content, time of the inspection, and bearing responsibility for the results of the inspection and conclusions in the inspection minutes. The inspected unit must provide all necessary documents, explain according to the requirements of the inspection team within the scope of the inspection content, and strictly implement the recommendations of the inspection team in accordance with current regulations within its own responsibilities.
information on the Financial Report of the State.
The indicators in the Financial Report of the State are compiled in accordance with the instructions set forth in Appendix VII annexed to this Circular.

Article 10. Internal Transactions Excluded

1. Internal transactions shall be excluded when preparing the National Financial Report including:
a) Balancing the budget, targeted supplementation, recovery, and repayment of funds between the central budget and provincial budgets.

b) The central budget borrowing from state financial funds outside the budget; the central budget and provincial budgets borrowing from state treasury funds.

c) The Government lending to localities from ODA or preferential foreign loan sources.

d) Expenditure, advance payment of operational expenses; expenditure, advance payment, and pre-advance of project implementation, basic construction fund,... from the national budget for central agencies, units, organizations where the financial reports/consolidated financial reports of such agencies, units, organizations are included in the National Financial Report.

2. Internal transactions shall be excluded when preparing the Provincial Financial Report including:

a) Balancing the budget, targeted supplementation, recovery, and repayment of funds between provincial budgets and district budgets.

b) Expenditure, advance payment of operational expenses; expenditure, advance payment, and pre-advance of project implementation, basic construction fund,... from local government budgets for local agencies, units, organizations where the financial reports/consolidated financial reports of such agencies, units, organizations are included in the Provincial Financial Report.

Article 11. Adjustment of National Financial Report

1. For the National Financial Report nationwide

Errors from the current period discovered during the same period shall be corrected before reporting to the National Assembly the National Financial Report. In case significant errors on the National Financial Report (errors leading to information discrepancies, affecting decision-making of report readers) are discovered after it has been reported to the National Assembly for previous periods, adjustments to the opening balances of assets, liabilities, net assets in the first year's financial statement following the discovery of such errors shall be made.
2. For the Provincial Financial Report

Errors from the current period discovered during the same period shall be corrected before reporting to the People's Council of the province the Provincial Financial Report. In case significant errors on the Provincial Financial Report (errors leading to information discrepancies, affecting decision-making of report readers) are discovered after it has been reported to the People's Council for previous periods, adjustments to the opening balances of assets, liabilities, net assets in the first year's financial statement following the discovery of such errors shall be made.
Article 12. Inspection of Preparation of National Financial Report

1. Scope of inspection

a) Inspection of implementation of receipt of financial information reports:

Ensuring full receipt of financial information reports from agencies, units, and organizations as specified in Articles 4 and 5 of this Circular.
b) Inspection of consolidation and adjustment of the National Financial Report to ensure that the report is fully consolidated from the financial information reports of agencies, units, and organizations, with internal transactions excluded within the scope of preparation of the National Financial Report according to the provisions of this Circular.

c) Inspection of completion and submission of the report to competent authorities ensuring that the report has been submitted to competent authorities after receiving comments from relevant agencies and units and is complete in terms of reporting as per regulations.

2. Inspecting authority

a) The Ministry of Finance shall inspect the National Financial Report nationwide.

b) The State Treasury shall inspect the Provincial Financial Report.

3. The inspecting authority shall issue an inspection decision, specifying the scope and time of inspection and being responsible for the results of the inspection and conclusions in the inspection report. Inspected units must provide all necessary documents, explain according to the requirements of the inspection team within the scope of the inspection, and strictly implement the recommendations of the inspection team in accordance with current regulations within their respective responsibilities.

3. The inspection agency shall issue a decision to conduct an inspection, specifying therein the scope and time of the inspection and being responsible for the results of the inspection and conclusions recorded in the inspection minutes. The inspected unit must provide all necessary documents, explain according to the requirements of the inspection team within the scope of the inspection content, and strictly implement the recommendations of the inspection team in accordance with the current regulations within its own responsibilities.

Chapter III IMPLEMENTATION ORGANIZATION

Article 13. Enforceability

1. This Circular shall take effect from May 13, 2026 and shall apply to the preparation of State Financial Reports for the year 2025 and onwards.
Specifically, provisions concerning the preparation and submission of lists of higher-level accounting units and independent central, provincial, and local accounting units responsible for providing information to prepare the previous year's State Financial Report shall be applicable from the State Financial Report of 2026 and onwards.

2. The following Circulars shall cease to have effect as of the date this Circular takes effect:

a) Circular No. 133/2018/TT-BTC dated December 28, 2018 by the Minister of Finance on guiding the preparation of State Financial Reports;

b) Circular No. 39/2021/TT-BTC dated June 1, 2021 by the Minister of Finance amending and supplementing certain provisions of Circular No. 133/2018/TT-BTC dated December 28, 2018 by the Minister of Finance on guiding the preparation of State Financial Reports.

3. In case any of the documents cited in this Circular are amended, supplemented, or replaced, such provisions shall be implemented according to the amended, supplemented, or replacement document.

Article 14. Implementation

1. Units preparing State Financial Reports and other agencies, units, and organizations responsible for providing information to prepare State Financial Reports shall have the responsibility to organize implementation, guide execution, and inspect compliance with this Circular.

2. In the course of implementation, if any difficulties arise, it is requested that agencies, units, and organizations report to the Ministry of Finance for study and resolution./

To:

Central Committee of the Party;

Prime Minister, Deputy Prime Ministers of the Government;

Central Party Office and its Committees;

Office of the General Secretary;

Office of the President;

Office of the National Assembly;

Office of the Government;

Supreme People's Court;

Supreme People's Procuratorate;

National Audit Office;

Ministries and agencies at the same level;

Central organs of political-social organizations;

Ethnic Affairs Committee and its Committees of the National Assembly;

Central Committee of the Vietnam Fatherland Front;

People's Councils, People's Committees of provinces and cities;

State Banks in regions; Provincial Tax Bureaus; Departments of Finance, other departments, agencies directly under provincial administrations;

Office for Checking Official Documents and Organizing Law Implementation, Ministry of Justice; Gazette;

Government Electronic Information Portal;

Ministry of Finance's Electronic Information Portal;

National Legal Gazette;

Units under the Ministry of Finance;

Retained: VT, State Bank (150 copies).