Circular No. 77/2021/TT-BTC amends and supplements certain provisions of Circular No. 200/2015/TT-BTC dated December 15, 2015, issued by the Ministry of Finance, guiding certain contents regarding supervision of state capital investment in enterprises; financial supervision, assessment of operational efficiency, and public disclosure of financial information of state-owned enterprises and enterprises with state capital.

CIRCULAR

Amending and supplementing certain provisions of Circular No. 200/2015/TT-BTC dated December 15, 2015 of the Ministry of Finance guiding certain contents on supervising state capital investment in enterprises; financial supervision, assessing operational efficiency, and disclosing financial information of state-owned enterprises and enterprises with state capital
Pursuant to the Enterprise Law on July 17,
Pursuant to Decree No. 87/2015/NĐ-CP dated October 6, 2015 of the Government on supervising state capital investment in enterprises; financial supervision, assessing operational efficiency, and disclosing financial information of state-owned enterprises and enterprises with state capital;
Pursuant to Decree No. 91/2015/NĐ-CP dated October 13, 2015 of the Government on state capital investment in enterprises and management and use of capital and assets at enterprises;
Pursuant to Decree No. 32/2019/NĐ-CP dated April 10, 2019 of the Government stipulating the assignment of tasks, placing orders, or tendering for the provision of products and services using state budget funds from regular expenditure;

Pursuant to the Law on Management and Use of State Capital for Production and Business Investment in Enterprises dated November 26, 2014;

Pursuant to Decree No. 125/2020/NĐ-CP dated October 19, 2020 of the Government stipulating administrative penalties for violations related to tax and invoices; May 14, 2016 Government Decree detailing some provisions and measures to implement the Law on Legislative Regulatory Documents;

Pursuant to Decree No. 87/2017/NĐ-CP dated July 26, 2017 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

The Minister of Finance hereby promulgates this Circular amending and supplementing certain provisions of Circular No. 200/2015/TT-BTC dated December 15, 2015 of the Ministry of Finance guiding certain contents on supervising state capital investment in enterprises; financial supervision, assessing operational efficiency, and disclosing financial information of state-owned enterprises and enterprises with state capital (hereinafter referred to as Circular No. 200/2015/TT-BTC).

200/2015/TT-BTC as follows:

1. Supplement Clause 3 of Article 8 and Clause 3 of Article 9 as follows:

"In addition to the contents of the financial supervision results report mentioned above, the agency representing the owner shall prepare the financial supervision results report according to Form No. 03A attached hereto."

The Minister of Finance hereby issues this Circular amending and supplementing certain Articles of Circular No. 133/2015/TT-BTC dated August 31, 2015, issued by the Minister of Finance guiding the financial management mechanism for the Vietnam Chamber of Commerce and Industry (hereinafter referred to as Circular No. 133/2015/TT-BTC).

2. Amend and supplement Point a of Clause 4 of Article 12 as follows:

Article 1. Amending and supplementing certain Articles of Circular No."a) Legal regulations and policies as provided for in Clause 1 of Article 28 of Decree No. 87/2015/NĐ-CP include laws on investment, management and use of state capital at enterprises, tax laws, and other payments to the state budget, regulations on financial reporting systems and reports for implementing financial supervision."

a) Amend Point d of Clause 1:

"Criterion 4: Compliance with current laws and regulations

- Enterprises are classified as type A if they meet the following conditions:

+ During the year of evaluation, the enterprise has not been penalized administratively by competent authorities in the field of tax for acts of misreporting leading to underpayment of taxes due or overpayment of tax exemptions, reductions, refunds, or non-collection, or for acts of tax evasion.

3. Amend and supplement Article 14 as follows:

+ Not reminded in writing once by the agency representing the owner or the finance department about submitting reports for financial supervision, enterprise classification reports, or financial statements not in accordance with regulations or deadlines.

- Enterprises are classified as type B if they meet any of the following conditions:

+ During the year of evaluation, the enterprise has been penalized administratively by competent authorities in the field of tax for one act of misreporting leading to underpayment of taxes due or overpayment of tax exemptions, reductions, refunds, or non-collection.

+ Reminded in writing twice by the agency representing the owner or the finance department about submitting reports for financial supervision, enterprise classification reports, or financial statements not in accordance with regulations or deadlines.

- Enterprises are classified as type C if they meet any of the following conditions:

+ During the year of evaluation, the enterprise has been penalized administratively by competent authorities in the field of tax for two or more different acts of misreporting leading to underpayment of taxes due or overpayment of tax exemptions, reductions, refunds, or non-collection; or the enterprise has committed tax evasion as stipulated by the Government's decree on administrative penalties for tax and invoice violations.

+ Reminded in writing three times or more by the agency representing the owner or the finance department about submitting reports for financial supervision, enterprise classification reports, or financial statements not in accordance with regulations or deadlines.

+ Managers of the enterprise have violated laws during the execution of their duties in areas specified in Point a of Clause 4 of this Circular as concluded by competent authorities. The enterprise classification will only be counted once for the same incident of violation by the enterprise manager.

- Violations of tax procedures will not be considered for enterprise classification."

b) Amend Clause 4:

"4. Classifying enterprises for enterprise classification assessment:

The agency representing the owner shall classify enterprises based on the list of public goods and services funded by the state budget from regular expenditure as stipulated by the Government's decree on assigning tasks, placing orders, or tendering for the provision of public goods and services using state budget funds from regular expenditure. For defense and security enterprises, the agency representing the owner (Ministry of National Defense, Ministry of Public Security) shall decide on the specific classification of each enterprise.

The classification of enterprises for enterprise classification assessment shall be specifically stated in the decision on annual business plans issued by the agency representing the owner for each enterprise.

In case of commercial enterprises, the classification of enterprises shall be carried out in accordance with Point a of Clause 3 of Decree No. 87/2015/NĐ-CP. In case of enterprises providing public goods and services funded by the state budget from regular expenditure, the classification of enterprises shall be carried out in accordance with Point b of Clause 3 of Decree No. 87/2015/NĐ-CP."

"4. Classification of enterprises for the purpose of evaluating and ranking enterprises:

The representative body of the owner shall classify enterprises based on the list of public products and services funded by state budget from regular expenditure funds as prescribed by the Government regarding the assignment of tasks, ordering or tendering for the provision of public products and services funded by state budget from regular expenditure funds. For national defense and security enterprises, the representative body of the owner (Ministry of National Defense, Ministry of Public Security) shall decide on the specific classification of each enterprise.

The classification of enterprises for the purpose of evaluating and ranking enterprises shall be specifically stated in the decision assigning annual business plans to each enterprise by the representative body of the owner.

In the case of enterprises engaged in business activities, the classification of enterprises shall be carried out according to the provisions at point a, Clause 3, Article 30 of Decree No. 87/2015/NĐ-CP. In the case of enterprises providing public products and services funded by state budget from regular expenditure funds, the classification of enterprises shall be carried out according to the provisions at point b, Clause 3, Article 30 of Decree No. 87/2015/NĐ-CP."

4. Amend Table 01.A Report on the situation of state capital investment to establish enterprises in which the State holds 100% of the charter capital for the year..., Table 01.B Report on the situation of additional state charter capital investment for enterprises in which the State holds 100% of the charter capital that are currently operating for the year..., Table 01.C Report on the situation of additional state capital investment at joint-stock companies and limited liability companies with two or more members for the year..., Table 01.D Report on the situation of state capital investment to acquire part or all of an enterprise for the year..., Table 03 Financial Supervision Report on Enterprises in which the State holds 100% of the charter capital (Annexed herewith).

Article 2. Repeal the contents prescribed in Circular number"a) Legal regulations and policies as provided for in Clause 1 of Article 28 of Decree No. 87/2015/NĐ-CP include laws on investment, management and use of state capital at enterprises, tax laws, and other payments to the state budget, regulations on financial reporting systems and reports for implementing financial supervision."

1. Repeal the phrase "in accordance with the contents prescribed in Clause 4, Article 12 of this Circular" prescribed in Point d, Clause 2, Article 5.

2. The contents prescribed in Article 12:

a. Repeal the content prescribed in Clause 1, Article 12: "For enterprises producing main products of the economy including electricity, coal, oil and gas, cement, the production volume consumed during the period shall be calculated; The unit for calculating crude oil production is ton, gas is cubic meter, coal and cement is ton, electricity is kilowatt-hour".

b. Repeal the content prescribed in Point b, Clause 2, Article 12: "In case at the time of preparing the annual financial report, the enterprise has not yet distributed and set aside funds for development investment according to the provisions of Sub-clause b, Clause 3, Article 31 of Decree No. 91/2015/ND-CP, when evaluating the business performance, the enterprise must add the amount set aside for the Development Investment Fund into the equity capital index to serve as the basis for determining the return on equity ratio".

3. Repeal Article 13.

4. Repeal Clause 3, Article 14.

5. Repeal Table 04.A, Table 04.B, Table 05.B.

Article 3. Effectiveness

1. This Circular takes effect from November 3, 2021 and applies from the fiscal year 2021.

2. Replace the phrase "state-owned enterprises" with the phrase "enterprises in which the State holds 100% of the charter capital".

3. Replace the phrase "public goods and services" with the phrase "products and services provided using state budget funds from regular expenditure".

4. During the implementation process, if there are any difficulties, please promptly reflect them to the Ministry of Finance for consideration and resolution./.