Circular No. 80/2003/TT-BTC guides the concentration and management of state budget revenues through the State Treasury

CIRCULAR

Guidelines for Concentrating and Managing State Budget Revenues through the State Treasury

state budget through the State Treasury

Pursuant to the State Budget Law No. 01/2002/QH11 dated December 16, 2002 of the National Assembly and Decree No. 60/2003/NĐ-CP dated June 6, 2003 of the Government detailing and guiding the implementation of the State Budget Law;

The Ministry of Finance hereby provides guidelines for concentrating and managing state budget revenues through the State Treasury as follows:

A. General Provisions

1. Organizations, individuals, including foreign organizations and individuals operating on the territory of the Socialist Republic of Vietnam have the responsibility and obligation to fully and timely pay all taxes, fees, charges, and other payments due to the state budget in accordance with the provisions of the law.

2. State Tax Administration, Customs, Finance Departments, and other agencies authorized by the Government or delegated by the Ministry of Finance to collect state budget revenues (referred to collectively as collection agencies) shall cooperate with the State Treasury to organize the management and concentration of state budget revenues, regularly inspect and urge to ensure that all state budget revenues are fully and promptly concentrated into the state budget.

3. All state budget revenues must be directly deposited into the State Treasury. For certain fees, charges, and taxes from non-fixed business households, small production and business households, and some state budget revenues in areas where direct deposit into the State Treasury is difficult, the collection agency may directly collect and then periodically deposit into the State Treasury according to the provisions of this Circular.

4. All state budget revenues shall be recorded in Vietnamese Dong, detailed by fiscal year, budget level, and state budget item. State budget revenues in foreign currency, in kind, or in labor days shall be converted into Vietnamese Dong at the exchange rate for foreign currency accounting as prescribed by the Ministry of Finance, or at the price of goods or labor days as prescribed by competent state authorities to record state budget revenue at the time of occurrence.

5. State budget revenues shall be allocated to budgets at various levels in accordance with the percentage allocation ratios determined by the Standing Committee of the National Assembly and the People's Councils of provinces for each type of revenue.

6. Any revenues collected outside the established procedures must be refunded to the payer. For revenues already concentrated into the state budget but subsequently exempted, reduced, or refunded, the State Treasury shall refund to the payers based on orders from financial authorities.

7. Procedures, formalities, and necessary documents for collecting, depositing, exempting, reducing, and refunding state budget revenues must be publicly announced and posted at collection agencies and the State Treasury where transactions are directly conducted with payers.

B. Specific Provisions

I. Organizing the Collection of State Budget Revenues

1. Preparing Quarterly Revenue Estimates and Monthly Revenue Plans

- Based on the annual revenue tasks assigned, tax registration numbers, and anticipated state budget revenues arising in the quarter, the collection agency prepares quarterly state budget revenue estimates within its jurisdiction, detailed by revenue items. The quarterly state budget revenue estimate is sent to the financial authority and the State Treasury at the same level before the 20th day of the last month of the preceding quarter as a basis for directing and organizing state budget revenue collection activities.

- On the 20th of each month, the collection agency prepares a detailed monthly state budget revenue plan for the following month, broken down by area and payer (directly through the State Treasury or through the collection agency), and submission deadlines, which are sent to the State Treasury for coordination in organizing revenue collection.

2. Organizing the Collection of State Budget Revenues

- The collection agency issues notices for state budget revenue collection to payers in accordance with current regulations. In cases where notices are not required (for payers who self-declare, calculate, and pay taxes and other payments), organizations and individuals must fully and promptly pay state budget revenues in accordance with established procedures.

- If, upon the deadline specified in the revenue collection notice or by regulation, an organization or individual has not fulfilled their state budget payment obligations (except when authorized to delay payment), based on a written request from the collection agency, bank, or State Treasury where the organization or individual maintains an account, the amount due shall be deducted from their account and paid into the state budget, or other financial measures as prescribed by law shall be applied to collect state budget revenues.

3. Methods of Collecting State Budget Revenues

3.1. Taxes, Fees, and Charges:

3.1.1. Direct Collection by the State Treasury: Taxes, fees, and charges from enterprises, economic organizations, individuals, and fixed business households with convenient locations for payment must be directly deposited into the State Treasury.

3.1.2. Direct Collection by the Collection Agency: Taxes, fees, and charges from non-fixed business households, occasional businesses, or those located far away where direct deposit into the State Treasury is difficult. The collection agency is responsible for collecting cash from payers and depositing the full amount collected into the State Treasury in accordance with Clause 5.1.2, Section I, Part B of this Circular.

3.1.3. For village-level budget revenues: The organization and deposit of village-level budget revenues shall be carried out in accordance with Clause 2.5, Section II, Part II of Circular No. 60/2003/TT-BTC dated June 23, 2003 of the Ministry of Finance on Village Budget Management and Other Financial Activities of Communes, Towns, and Urban Districts.

3.2. Penalties:

- For penalties paid directly into the State Treasury by the payer, the State Treasury shall collect state budget revenues in accordance with current regulations.

- When a competent state authority directly collects penalties from the payer, the collection agency is responsible for promptly depositing the full amount into the state budget through the State Treasury in the relevant area in accordance with Clause 5.1.2, Section I, Part B of this Circular.

3.3. Domestic Loans and Foreign Loans:

3.3.1. Domestic Loans:

- For domestic funds raised through the issuance of government bonds and national construction bonds for the central budget, based on the amount of funds raised, the State Treasury shall record loans to offset the central budget deficit;

- For funds raised for provincial budgets to allocate for investment in infrastructure projects, based on the amount of funds raised, the State Treasury shall record revenue for the provincial budget;

- For other domestic loans, based on the bank's notice of receipt, the State Treasury shall record revenue for the state budget. Loans taken by which level of budget shall be recorded as revenue for that level of budget;

3.3.2. Foreign loans (the portion included in the state budget balance):

- Foreign currency loans transferred to the foreign currency fund of the state budget: based on the bank's notice of receipt, the State Treasury shall convert to Vietnamese dong at the accounting exchange rate prescribed by the Ministry of Finance and record revenue for the central budget (to offset the deficit);

- In cases where foreign currency loans are not transferred to the foreign currency fund of the state budget: based on the collection and disbursement orders of the Ministry of Finance, the State Treasury shall convert to Vietnamese dong at the accounting exchange rate prescribed by the Ministry of Finance and record collection and disbursement entries for the state budget;

- For loans in the form of materials, equipment, goods with original value in foreign currency: based on the collection order of the financial authority, the State Treasury shall record revenue for the state budget according to the provisions at point 5.3, section I part B of this Circular;

3.4. For revenues from the financial reserve fund, supplementary revenues from higher-level budgets, surplus revenues of the state budget, and revenues transferred from the previous year's budget: the State Treasury shall base on the decision of the financial authority to record revenue for the state budget;

3.5. Other revenues:

Revenues from state economic activities, recovery of loaned money, public service activities, land use fees, land rental fees, proceeds from the sale or lease of state-owned assets, repayment of capital, revenues from budget payments during basic construction activities, revenues from state inheritances, non-repayable aid, liquidation of seized assets, etc., the direct payment into the State Treasury or submission through collection agencies shall be carried out according to current regulations applicable to each type of revenue;

3.6. For revenues of state budgets from organizations and individuals abroad, the Ministry of Finance shall issue separate guidelines;

4. Revenue receipts for the state budget

4.1. Payment vouchers for state budget contributions:

- Payment vouchers for state budget contributions are revenue receipts for the state budget uniformly organized and managed by the Ministry of Finance (model attached as Appendix 01, 02, 03, 04);

- Payment vouchers for state budget contributions are used for entities and individuals obligated to pay taxes and other revenues into the State Treasury; the collection agency shall deposit the collected amounts into the State Treasury;

- Payment vouchers for state budget contributions include the following main contents:

+ Name of the payer: name of the organization or unit according to the establishment decision (for organizations or enterprises) or the full name of the individual payer (for individual households or individuals);

+ Payer code: assigned by the collection agency according to the current regulations of the Government and guidelines of the Ministry of Finance;

+ Address: commune (ward), district (district), province (city) where the enterprise or organization is registered to operate or the address of the individual household or individual payer;

+ Place of payment (in case of cash payment): name of the State Treasury (according to the collection notice), name of the bank where the State Treasury has opened a foreign currency account (if paying foreign currency in cash);

+ Issuing agency of the collection notice: state tax agency, customs, finance, etc.;

+ Collection agency code;

+ Number and date of the customs declaration form (for cases where the customs agency issues the collection notice). The payment voucher is prepared separately for each customs declaration form;

+ Content of state budget contribution: accurately, fully, and detailedly record the content, amount, state budget item, source code, and adjustment code for each contribution;

4.2. Receipts and summary sheets of receipts:

- Receipts are used when the collection agency is tasked with directly collecting state budget revenues in cash, collecting administrative fines, or the State Treasury directly collects certain fees, charges, and penalties as stipulated;

- Receipts are issued and managed according to the regulations of the Ministry of Finance;

- When the collection agency deposits the collected amount into the State Treasury, it must prepare a summary sheet of receipts (Appendix 06 attached) and issue a payment voucher for state budget contributions;

5. Process of collecting state budget revenues

5.1. Collection in Vietnamese dong:

5.1.1. Collection by transfer:

When contributing to the state budget by transfer, the payer shall prepare four copies of the payment voucher for state budget contributions by transfer (Appendix 02 attached) and send them to the bank or State Treasury where the account is opened. The bank or State Treasury is responsible for deducting the payer's account to promptly contribute to the state budget. The collection process is as follows:

a) In the case where the payer has an account at a bank:

- Upon receiving the four copies of the payment voucher for state budget contributions by transfer, the bank shall process the deduction from the payer's account to contribute to the state budget and handle the payment vouchers:

+ Copy 1: serves as the debit entry for the payer's account;

+ Copy 2: sent to the payer;

+ Send the remaining two copies to the State Treasury.

- In inter-bank transactions, the bank must send to the State Treasury two copies of the restored documents, complete with all details on the payment voucher for state budget contributions by transfer, as the basis for recording state budget revenues;

- Upon receiving the payment documents sent by the bank, the State Treasury shall record state budget revenues and handle the payment vouchers:

+ Copy 3: serves as the entry for recording state budget revenues;

+ Copy 4: sent to the direct management agency overseeing the payer.

b) In the case where the payer has an account at the State Treasury:

- Upon receiving four copies of the payment receipt from the payer, the State Treasury shall debit the payer's deposit account to collect state revenue and process the payment receipt copies as follows:

+ Copy 1: serve as a debit voucher for the payer's deposit account; simultaneously, record the collection of state revenue;

+ Copy 2: sent to the payer;

+ Copy 3: be voided;

+ Copy 4: sent to the direct management agency overseeing the payer.

5.1.2. Collection in cash:

a) Through the State Treasury:

- Collection via a payment receipt to the state budget:

+ The payer prepares three copies of a cash payment receipt to the state budget (Annex No. 01 attached). Upon receiving the payment receipt from the payer, the State Treasury processes the cash collection, records the state revenue, and handles the payment receipt copies as follows:

Copy 1: serves as a record of state revenue collection;

Copy 2: sent to the payer;

Copy 3: sent to the direct managing revenue collection agency of the payer.

- Collection via a receipt:

+ In cases where the State Treasury uses receipts for direct collection, the State Treasury prepares three copies of the receipt to collect money from the payer and handle the receipt copies: one copy retained, one copy sent to the payer, one copy retained at the State Treasury;

+ At the end of each day or periodically (not exceeding two days), the State Treasury prepares two copies of a list of receipts: one copy retained at the State Treasury, one copy sent to the revenue collection agency; simultaneously, prepares three copies of a cash payment receipt to the state budget, records the state revenue, and handles them as follows:

Copy 1: serves as a record of state revenue collection;

Copy 2: be voided;

Copy 3: sent to the direct managing revenue collection agency of the payer.

b) Through the revenue collection agency:

- The revenue collection agency directly collects money from the payer using a receipt. Periodically, according to the agreed transaction schedule with the State Treasury, the revenue collection agency prepares two copies of a list of receipts: one copy retained by the revenue collection agency, one copy sent to the State Treasury; simultaneously, based on the list of receipts, prepares three copies of a cash payment receipt to the state budget and deposits the collected amount into the State Treasury. Based on the list of receipts and the cash payment receipt to the state budget sent by the revenue collection agency, the State Treasury processes the cash collection, records the state revenue, and handles them as follows:

+ Copy 1: serves as a record of state revenue collection;

+ Copy 2: returned to the paying agency (the direct revenue collection agency);

+ Copy 3: sent to the revenue collection agency managing the payer.

- The revenue collection agency and the State Treasury jointly establish a uniform deadline for depositing funds into the State Treasury (daily or no later than five days after the date of collection, depending on the volume of collections and specific local conditions);

- The revenue collection agency must deposit funds at the State Treasury office. In cases where a transaction point outside the State Treasury office is located within the revenue collection agency, if the revenue collection agency requests to deposit funds directly at the transaction point, then the Director of the Provincial or Municipal State Treasury, based on specific conditions, may approve the transaction point to accept funds from the revenue collection agency, ensuring safe and timely collection.

5.2. Collection of state revenue in foreign currency:

5.2.1. Management principles:

- All state revenue collected in foreign currency (including loans and foreign aid) is centralized in the state budget's foreign currency fund, uniformly managed at the Central State Treasury; recorded in the state budget's foreign currency fund (in original currency); simultaneously, converted into Vietnamese dong according to the accounting exchange rate prescribed by the Ministry of Finance for recording state revenue and allocating it among different levels of the budget (excluding foreign currency transferred from provincial and municipal State Treasuries).

- Local government budgets at all levels (provincial, district, commune) are not permitted to establish foreign currency funds. All state revenue collected in foreign currency locally must be deposited into the foreign currency deposit account of the State Treasury opened at a state commercial bank and transferred monthly to the central state budget's foreign currency fund. Foreign currency revenue collected locally is converted into Vietnamese dong according to the accounting exchange rate prescribed by the Ministry of Finance for recording state revenue and allocating it among different levels. Interest earned on foreign currency deposits, after deducting payment fees, is managed, utilized, and settled with the state budget according to financial management regulations applicable to the State Treasury system.

- The state budget's foreign currency fund is used to settle and pay expenses in foreign currency as stipulated by the Ministry of Finance. Any remaining foreign currency is sold by the Central State Treasury to the state bank periodically or upon the order of the Minister of Finance. At year-end during the settlement period, the Central State Treasury compiles and forwards the annual exchange rate differences to the Ministry of Finance (State Budget Department) for processing.

- The Minister of Finance authorizes the Director of the Foreign Financial Affairs Department to determine and announce the accounting exchange rate for foreign currencies, ensuring the following principles:

+ The accounting exchange rate is calculated based on the average actual buying and selling rates in the inter-bank foreign exchange market over the previous thirty days before the announcement date;

+ If the actual buying and selling rates of foreign currencies in the inter-bank foreign exchange market fluctuate significantly (by more than 5% compared to the accounting exchange rate) during the month, the Ministry of Finance will review and adjust the accounting exchange rate accordingly;

- The accounting exchange rate is uniformly applied nationwide for the following transactions:

+ Conversion and accounting of state revenue and expenditure in foreign currency (including physical receipts with original value in foreign currency);

+ Conversion and accounting of the State Treasury.

5.2.2. Collection process:

a) Collection in foreign currency by transfer:

The collection process in foreign currency by transfer is carried out similarly to the collection process in Vietnamese dong by transfer. Based on the notice of receipt, the payment list, and the foreign currency payment receipt for the state budget by transfer sent by the bank, the State Treasury processes as follows:

- The Central State Treasury records the collection of the state budget's foreign currency fund (collections at the Central State Treasury and foreign currency transferred from local State Treasuries); simultaneously, converts the foreign currency collected at the Central State Treasury into Vietnamese dong according to the accounting exchange rate prescribed by the Ministry of Finance for recording state revenue.

- The State Treasury of the province/city shall record an increase in foreign currency deposits at banks; simultaneously, convert such amount into Vietnamese dong according to the accounting exchange rate prescribed by the Ministry of Finance for recording state budget revenue.

b) Collection of foreign currency in cash through banks shall be carried out according to the following procedure:

- The payer shall prepare four copies of the form for depositing foreign currency cash into the state budget (Annex No. 03 attached) and proceed to the bank where the State Treasury has opened a foreign currency account to complete the deposit procedures;

- The bank shall process the collection of foreign currency and handle the deposit forms: copy 1 retained by the bank, copy 2 sent to the payer, and the remaining two copies sent to the State Treasury;

- Based on the documents sent by the bank, the State Treasury shall implement as stipulated in paragraph a, point 5.2.2, section I, part B of this Circular.

c) Collection of foreign currency in cash through collection agencies or directly into the State Treasury:

- In cases where the collection agency directly collects foreign currency in cash, it must promptly deposit the full amount into the foreign currency account of the State Treasury opened at the bank. Where it is not possible to deposit foreign currency into a bank, the collection agency shall deposit the entire amount of collected foreign currency into the State Treasury of the province/city. The collection and handling procedures of documents shall be similar to those for collecting Vietnamese dong in cash through collection agencies;

- In cases where the payer directly deposits foreign currency in cash into the State Treasury, the collection procedures shall be similar to those for collecting Vietnamese dong in cash;

- Collection of the state budget by foreign currency cash can only be conducted at the State Treasury of the province/city and for freely convertible foreign currencies as announced by the State Bank;

- Based on the actual amount of foreign currency cash collected, the State Treasury shall convert it into Vietnamese dong according to the accounting exchange rate prescribed by the Ministry of Finance for recording state budget revenue; simultaneously, deposit the entire amount of foreign currency collected into the foreign currency deposit account of the State Treasury at the bank for transfer to the Central State Treasury;

- In cases where the State Treasury of the province/city does not have a foreign currency deposit account at the bank (due to the State Bank and commercial banks on the local area not organizing the opening of foreign currency deposit accounts and transactions), the State Treasury of the province/city may sell foreign currency cash to the State Bank or commercial banks permitted to operate foreign currency business (at the purchase rate of that bank). The difference between the actual selling rate of foreign currency and the accounting rate for state budget revenue shall be monitored and transferred to the Central State Treasury for settlement with the central budget;

5.3. Collection of the state budget by physical assets:

- For physical assets with identified users: financial authorities shall convert them into Vietnamese dong to issue revenue and expenditure orders for the state budget, which shall be sent to the State Treasury for recording revenue and expenditure of the state budget;

- The conversion of the value of physical assets into Vietnamese dong shall be carried out as follows:

+ For assets with current unit prices, apply the current unit price in the region; assets with original foreign currency prices shall be converted into Vietnamese dong according to the accounting exchange rate prescribed by the Ministry of Finance;

+ For assets without specified unit prices or original foreign currency prices, the financial authority shall establish a valuation committee to determine the market price of the asset at the time of valuation in the region;

- For physical assets without identified users: the financial authority shall cooperate with relevant agencies to organize the sale of physical assets for Vietnamese dong to be deposited into the state budget. In cases where the assets cannot be sold, the financial authority shall continue to monitor and manage them in cooperation with relevant agencies;

5.4. Collection of the state budget by labor days:

- Revenue from the state budget by labor days shall be converted into Vietnamese dong for recording revenue and expenditure of the state budget;

- The financial authority shall lead the coordination with relevant agencies to convert the number of labor days according to the unit price of labor days prescribed for each type of work; simultaneously, issue revenue and expenditure orders for the state budget, which shall be sent to the State Treasury for recording revenue and expenditure of the state budget;

6. Inspection, verification, and handling:

- Regularly, the collection agency and the State Treasury shall be responsible for coordinating inspections and verifications of state budget revenue and payment situations; promptly identify cases of delayed payments or arrears in state budget revenue to take measures to urge and handle according to regulations;

- Regularly, upon agreement with the collection agency, the State Treasury shall compile a detailed summary of state budget revenue, broken down by each collection agency, budget item, and allocation to various levels of budget, to be sent to the collection agency for comparison, inspection, and management;

- During the inspection and verification of state budget revenue, if there are errors attributable to any agency, that agency shall submit a written request for adjustment. All adjustments shall be recorded in documents as the basis for adjusting accounting entries. At the end of the fiscal year, the financial authority shall coordinate with the State Treasury and the collection agency to finalize the settlement of state budget revenue;

- Violations of regulations on state budget revenue and payment, such as incorrect declaration and taxation, concealment of sources of income, delay or failure to fully pay the required amount to the state budget, improper collection methods, unauthorized tax exemptions and reductions, illegal retention of state budget revenue, incorrect accounting and statistical records, improper distribution of revenue and allocation ratios among different levels of budget, misuse of illegal invoices and documents, etc., are all violations of budget laws. Depending on the nature and severity of the violation, they will be handled according to the law;

7. Refund of state budget revenue:

- Refunds of state budget revenue shall be made in cases of incorrect policy or regulation; changes in collection mechanisms and policies; payers being exempted, reduced, or refunded taxes according to authorized decisions; overpayment compared to regulations.

- The process and procedures for refunding state budget revenues shall be implemented in accordance with Circular No. 68/2001/TT-BTC dated August 24, 2001, and current documents of the Ministry of Finance. Specifically, the refund of value-added tax (including overpaid or mistakenly paid VAT) shall be carried out from the value-added tax refund fund as stipulated in Part D of Circular No. 122/2000/TT-BTC dated December 29, 2000, issued by the Ministry of Finance.

- Refunding state budget revenues to payers before finalizing the state budget settlement shall be conducted based on the order to refund state budget revenues issued by the financial authority (Annex No. 05 attached). In cases where the revenue has been settled into the previous fiscal year's budget, the financial authority shall issue an expenditure order for the current fiscal year's budget to effect the refund.

- Based on the order to refund state budget revenues or the expenditure order from the financial authority, the State Treasury shall process the reduction of revenue records (for revenues not yet settled in the state budget) or record expenditures from the state budget (for revenues already settled in the state budget) and refund them to the entitled recipients.

8. Accounting, reporting, and settlement of state budget revenues

8.1. Accounting of state budget revenues:

- The State Treasury shall organize accounting of state budget revenues in accordance with the accounting regulations prescribed by the Ministry of Finance. Accounting must ensure compliance with the fiscal year and the state budget classification. Revenues belonging to the previous fiscal year but collected in the following year must be recorded as revenues of the subsequent fiscal year;

- For revenues outside the state budget balance, the State Treasury shall temporarily record them without incorporating them into the state budget balance;

- For provisional receipts and retainments, the State Treasury shall record them in provisional receipt and retention accounts and subsequently handle them according to the decision of the competent authority. Provisional receipts and retainments without a decision from the competent authority will carry forward their balances to the next year for continued monitoring and handling until the end of December;

- Entities generating state budget revenues that are allowed to retain for spending under specified regulations must periodically prepare detailed reports on actual revenues and expenditures to submit to the financial authority. Based on the revenue recording orders and expenditure recording orders transferred by the financial authority, the State Treasury shall execute the recording of revenues and expenditures from the state budget;

8.2. Reporting and Settlement of State Budget Revenues:

Periodic reports on the situation of state budget revenues, accounting reports, and settlements of state budget revenues at various levels of the budget shall be prepared in accordance with the prescribed formats, state budget classifications, and deadlines set forth in Circular No. 59/2003/TT-BTC dated June 23, 2003, and the state budget accounting system and treasury operations regulated by the Ministry of Finance.

II. Tasks and Authorities of Agencies in Organizing State Budget Revenue Collection

1. Revenue Collection Agency

- Calculating, determining the amount of revenue, and issuing revenue notices; responsible for the accuracy of the chapter, type, item, sub-item according to the state budget classification for each revenue item listed in the revenue notice.

- Monitoring, managing, urging payers to deposit money into the state budget. Guiding payers in preparing payment vouchers for state budget deposits.

- Directly collecting revenues assigned and promptly and fully depositing them into the State Treasury as required.

- Deciding on provisional receipts for the State Treasury to base accounting entries; deciding on the handling of provisional receipts according to established regulations.

- Inspecting, reviewing, and recommending the financial authority to issue orders for refunds for revenues collected in violation of regulations or those eligible for refund according to established regulations.

- Inspecting and resolving complaints regarding state budget revenue collection; deciding on penalties for violations of state budget revenue collection regulations as prescribed by law.

- Organizing accounting of state budget revenues according to the accounting and statistical regulations prescribed by the Ministry of Finance.

- Checking figures, preparing, and submitting reports on state budget revenues and settlement reports within their jurisdiction as prescribed by the Ministry of Finance.

- Cooperating with the State Treasury to identify direct payers through the State Treasury and indirect payers through the revenue collection agency to effectively organize state budget revenue collection.

2. State Treasury

- Concentrating state budget revenues and allocating them to various levels of the budget according to the percentage ratios decided by the competent authority for each revenue item.

- Summarizing and preparing reports on state budget revenues to send to the financial authority and relevant agencies as prescribed.

- Cooperating with the revenue collection agency to verify and reconcile state budget revenue figures to ensure accuracy, completeness, and timeliness; confirming state budget revenue figures upon request of authorized government agencies.

- Implementing refunds of state budget revenues based on orders from the financial authority.

- The State Treasury branch where the payer maintains an account shall be responsible for deducting funds from the payer's account according to the written request of the revenue collection agency to deposit into the state budget as stipulated in Article 46 of Decree No. 60/2003/NĐ-CP dated June 6, 2003, issued by the Government.

3. Financial Authority

- Cooperating with the revenue collection agency and the State Treasury in concentrating state budget revenues; urging entities under its management to timely and fully deposit state budget revenues into the State Treasury.

- Verifying, reconciling, and issuing orders for refunds or recommending the competent authority to issue refunds for state budget revenues according to established regulations.

- Cooperating with the State Treasury to review and reconcile state budget revenues to ensure full, accurate, and correct accounting according to the state budget classification and allocation ratios for various levels of the budget.

- Reviewing and approving settlement reports on state budget revenues from lower-level budgets; summarizing and preparing settlement reports on state budget revenues within its jurisdiction as prescribed.

4. Organizations and Individuals Obligated to Pay State Budget Revenues

- Declaring and paying all amounts due to the state budget accurately and timely according to established regulations; strictly adhering to revenue notices from the revenue collection agency; complying with the procedures and formalities for state budget payments.

- Has the right to lodge complaints regarding issues violating the state budget collection system of competent authorities.

5. The bank where the entity makes deposits opens an account.

- Is responsible for transferring funds according to the requirements of the depositing entity into the State Treasury to pay into the state budget; prepares and sends complete, timely, and accurate documents in accordance with forms prescribed by the Ministry of Finance for the State Treasury to base its accounting of state budget revenue on.

- Shall implement deductions from the depositing entity's deposit account at the request (in writing) of the revenue collection agency to pay into the state budget in accordance with Article 46 of Decree No. 60/2003/NĐ-CP dated June 6, 2003 of the Government.

III. Budget and incentive, disciplinary regulations

1. Costs for organizing state budget revenue collection work of the revenue collection agencies and the State Treasury such as: construction, rental of premises, provision of material infrastructure and working equipment; transportation and security costs; overtime allowances,... shall be guaranteed by the state budget in accordance with current state financial management regulations.

2. Incentive regulations for state budget revenue collection work of the revenue collection agencies and the State Treasury shall be implemented in accordance with current provisions.

3. Agencies, units, and individuals violating management and collection regulations or causing loss of state funds and assets must be dealt with in accordance with the law.

C. Implementation Organization

1. This Circular takes effect from the 2004 fiscal year and replaces Circular No. 41/1998/TT-BTC dated March 31, 1998, and Circular No. 12/1999/TT-BTC dated February 1, 1999, issued by the Ministry of Finance. Previous documents and regulations on centralized management of state budget revenues through the State Treasury that conflict with this Circular are no longer in effect.

2. In cases where the process of collecting state budget revenues through computer networks or other collection processes is applied, the Ministry of Finance will issue separate guidelines.