Circular No. 67/1999/TT-BTC guides the use of capital and accounting for the purchase price and interest on national construction bonds at enterprises. The document specifies the sources of capital to be used for purchasing bonds, exemption from income tax on bond interest, methods of calculating interest, and related accounting procedures.
적용 범위
Enterprises of all economic sectors
핵심 사항
- State-owned enterprises are not allowed to use state budget funds to purchase bonds (Article 1)
- All entities purchasing bonds are exempt from income tax on bond interest (Article 2)
- Formula for calculating annual interest receivable and price differential due to inflation (Article 3)
- Accounting for the purchase price and interest on bonds is specifically guided (Article 4)
- Enterprises must allocate financing costs and other expenses for the capital used to purchase bonds to annual financial activity costs
🌐 이 문서의 사회적 영향
- To help enterprises have an additional effective investment channel and earn profits from bond interest rates
- To facilitate the state's capital raising through the issuance of national construction bonds
- The burden of management and accounting costs for enterprises increases
❓ 자주 묻는 질문
Can enterprises use state budget funds to purchase bonds?
No, only their own managed capital can be used (Article 1)
What is the interest rate for national construction bonds?
50% over 60 months (Article 3)
How is the formula for calculating annual interest receivable?
Annual Interest Amount = Total Purchase Price of Bonds x 50% / 60 months x Number of Months Capital Used in the Year (Article 3)
Are enterprises exempt from income tax on bond interest?
Yes, all entities purchasing bonds are exempt from income tax on bond interest (Article 2)
전문
|
MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
|
Number: 67/1999/TT-BTC |
Hanoi, June 7, 1999 |
CIRCULAR
Guidelines on the use of capital and accounting for purchase funds and interest on national construction bonds at enterprises
Implementing Decree No. 34/1999/NĐ-CP dated May 12, 1999 of the Government on the issuance of national construction bonds in 1999, the Ministry of Finance issued Circular No. 56/1999/TT-BTC dated May 12, 1999 to guide the implementation of the above Decree.
Specifically for enterprises, the Ministry of Finance supplements the following guidelines:
1. For state-owned enterprises, Circular No. 56/1999/TT-BTC dated May 12, 1999 has guided that "State-owned enterprises shall not use capital or state budget funds to purchase national construction bonds," which means: State-owned enterprises shall not use funds allocated by the state budget for performing public service tasks, national reserves, price stabilization reserves, or other designated objectives assigned by competent authorities to purchase national construction bonds.
State-owned enterprises may use their own managed capital to purchase national construction bonds as stipulated in Article 7 of the Law on State-Owned Enterprises and Article 10 of Decree No. 59/CP dated October 3, 1996 of the Government on financial management regulations and business accounting for state-owned enterprises.
2. All entities eligible to purchase national construction bonds as specified in Article 2 of Decree No. 34/1999/NĐ-CP mentioned above (including all enterprises under various economic sectors) are exempt from income tax on the interest earned from purchasing national construction bonds.
3. The interest earned from purchasing national construction bonds is recorded as annual financial activity income of the enterprise (For commercial banks and credit organizations, it is recorded as revenue) according to the formula:
Annual interest receivable amount
|
Total purchase amount x 50% (interest rate) |
= |
60 (months) |
x |
Number of months using capital to purchase government bonds in the year |
Interest difference due to inflation
|
Actual interest received |
= |
Interest already recorded in previous years |
- |
4. Accounting for the purchase amount and interest earned on national construction bonds is carried out as follows: |
a. When purchasing national construction bonds, the accountant records:
Debit Account 221 - Long-term securities investment (2212)
Credit Accounts 111, 112...
b. The annual interest earned on national construction bonds and the final year's interest are recorded in the books on December 31 each year, as follows:
Debit Account 221 - Long-term securities investment (2212)
Credit Account 711 "Financial activity income"
Enterprises must open detailed accounts to track interest earned from purchasing national construction bonds separately.
c. When the State pays off the national construction bonds, the actual amount received for the purchase and interest on the bonds is recorded as follows:
Debit Accounts 111, 112...
Credit Account 221 - Long-term bond investment (2212)
Each year, enterprises must allocate financing costs and other costs (if any) related to the capital used to purchase national construction bonds to financial activity expenses (or business expenses for commercial banks and credit organizations, such as interest payable to depositors) to determine the actual profit from this activity.
5 ||| This Circular takes effect fifteen days from the date of signature.
This Circular takes effect fifteen days after the date of issuance.
|
|
DEPUTY MINISTER MINISTRY OF FINANCE (Signed)
TRAN VAN TA |
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