Decision No. 96/2002/QÐ-BTC on amending and supplementing certain points in the Regulation on establishing, managing, and using the Value Added Tax Refund Fund issued together with Decision No. 1632/1998/QÐ-BTC dated November 17, 1998 of the Minister of Finance.

Pursuant to …;

OF THE MINISTER OF FINANCE NUMBER 96/2002/QĐ-BTC
AUGUST 15, 2002 REGARDING AMENDMENTS AND SUPPLEMENTS TO CERTAIN POINTS IN THE REGULATIONS ON ESTABLISHMENT, MANAGEMENT, AND USE OF THE VAT REFUND FUND ISSUED PURSUANT TO DECISION NO. 1632/1998/QĐ-BTC OF OCTOBER 17, 1998
AMENDING AND SUPPLEMENTING CERTAIN POINTS IN THE REGULATIONS ON ESTABLISHMENT, MANAGEMENT, AND USE OF THE VAT REFUND FUND ISSUED PURSUANT TO DECISION NO. 1632/1998/QĐ-BTC OF OCTOBER 17, 1998
- BASED ON THE VALUE ADDED TAX LAW AND DECREE NO. 28/1998/NĐ-CP OF MAY 11, 1998 OF THE GOVERNMENT GUIDING THE IMPLEMENTATION OF THE VALUE ADDED TAX LAW;
- BASED ON DECREE NO. 178/CP OF OCTOBER 28, 1994 ON THE TASKS, POWERS, AND ORGANIZATIONAL STRUCTURE OF THE MINISTRY OF FINANCE;
OF THE MINISTER OF FINANCE

THE MINISTER OF FINANCE

AT THE PROPOSAL OF THE DIRECTOR OF THE GENERAL DEPARTMENT OF TAXES AND THE HEAD OF THE STATE BUDGET DEPARTMENT;

AMENDMENTS AND SUPPLEMENTS TO CERTAIN POINTS IN THE REGULATIONS ON ESTABLISHMENT, MANAGEMENT, AND USE OF THE VAT REFUND FUND ISSUED PURSUANT TO DECISION NO. 1632/1998/QĐ-BTC OF OCTOBER 17, 1998 OF THE MINISTER OF FINANCE ARE AS FOLLOWS:

1. AMENDMENTS AND SUPPLEMENTS TO CLAUSE 2, ARTICLE 4 AS FOLLOWS:

Pursuant to …;

Article 1:"CLAUSE 2, ARTICLE 4: BASED ON THE PROJECTED BUDGET FOR IMPORT VAT COLLECTION AND THE ANTICIPATED AMOUNT OF VAT TO BE REFUNDED, THE GENERAL DEPARTMENT OF TAXES AND THE STATE BUDGET DEPARTMENT SHALL PROPOSE THE LEVEL OF ESTABLISHMENT OF THE NEXT YEAR'S VAT REFUND FUND FROM IMPORT VAT TO BE SUBMITTED TO THE MINISTER OF FINANCE FOR DECISION AND INCORPORATED INTO THE NATIONAL BUDGET PROJECT SUBMITTED TO THE GOVERNMENT. DURING THE IMPLEMENTATION PROCESS, IF THE VAT REFUND FUND INCLUDING THE BALANCE CARRIED FORWARD FROM THE PREVIOUS YEAR IS INSUFFICIENT TO COVER THE REFUND EXPENSES UNDER THE REGIME, THE HEAD OF THE STATE BUDGET DEPARTMENT AND THE DIRECTOR OF THE GENERAL DEPARTMENT OF TAXES SHALL SUBMIT A REQUEST TO THE MINISTER OF FINANCE FOR ADDITIONAL FUNDS FROM THE NATIONAL BUDGET TO BE INCORPORATED INTO THE VAT REFUND FUND. ANY UNEXPENDED FUNDS SHALL BE CARRIED FORWARD TO THE NEXT YEAR TO CONTINUE TO COVER THE REFUNDS FOR THE CURRENT YEAR THAT ARE CARRIED FORWARD TO THE NEXT YEAR."

"ARTICLE 5: ESTABLISHMENT OF THE VAT REFUND FUND:

BASED ON THE LEVEL OF ESTABLISHMENT OF THE VAT REFUND FUND DECIDED BY THE MINISTER OF FINANCE, MONTHLY, UPON THE PROPOSAL OF THE DIRECTOR OF THE GENERAL DEPARTMENT OF TAXES, THE STATE BUDGET DEPARTMENT SHALL PROCEDURE TO TRANSFER FUNDS FROM THE NATIONAL BUDGET TO THE ACCOUNT OF THE VAT REFUND FUND OF THE GENERAL DEPARTMENT OF TAXES AT THE CENTRAL TREASURY."

2. Amending and supplementing Clause 5 as follows:

3. AMENDMENTS AND SUPPLEMENTS TO CLAUSE 3, ARTICLE 6 AS FOLLOWS:

"ARTICLE 6, CLAUSE 3: IN CASE THE VAT REFUND FUND HAS NO BALANCE, THE CENTRAL TREASURY SHALL BE RESPONSIBLE FOR TEMPORARILY ADVANCING FUNDS FROM THE TREASURY TO THE FUND TO IMPLEMENT VAT REFUNDS FOR THE ELIGIBLE ENTITIES IN ACCORDANCE WITH THE PROVISIONS OF CLAUSE 2, ARTICLE 6 OF THESE REGULATIONS, AND SIMULTANEOUSLY NOTIFY THE GENERAL DEPARTMENT OF TAXES AND THE STATE BUDGET DEPARTMENT TO TRANSFER FUNDS AND REIMBURSE THE AMOUNT ADVANCED."

"ARTICLE 8: THE STATE BUDGET DEPARTMENT SHALL BE RESPONSIBLE FOR:

a/ BASED ON THE PROJECTED REFUND EXPENSES AND THE BUDGET FOR IMPORT VAT COLLECTION, COOPERATE WITH THE GENERAL DEPARTMENT OF TAXES TO DETERMINE THE LEVEL OF ESTABLISHMENT OF THE VAT REFUND FUND FROM IMPORT VAT, INCORPORATE IT INTO THE ANNUAL NATIONAL BUDGET PROJECT AND REPORT TO THE MINISTER OF FINANCE FOR SUBMISSION TO THE GOVERNMENT.

"Article 8. Liquidity ratio, in case microfinance organizations have a risk of losing the ability to pay, losing the ability to pay

b/ ENSURE THE TRANSFER OF FUNDS FROM THE NATIONAL BUDGET TO THE VAT REFUND FUND ACCOUNT TO GUARANTEE TIMELY PAYMENT FOR THE REFUNDS.

c/ MONTHLY, COOPERATE WITH THE CENTRAL TREASURY AND THE GENERAL DEPARTMENT OF TAXES TO ADJUST THE REDUCTION IN IMPORT VAT COLLECTION CORRESPONDING TO THE FUNDS ALLOCATED TO THE VAT REFUND FUND. BE RESPONSIBLE FOR THE SOURCE TO ENSURE THE REFUNDS ACCORDING TO THE DECISION OF THE MINISTER OF FINANCE."

THIS PROVISION SHALL TAKE EFFECT FROM THE 2002 BUDGET YEAR. THE PROVISIONS IN THE REGULATIONS ON ESTABLISHMENT, MANAGEMENT, AND USE OF THE VAT REFUND FUND ISSUED ACCOMPANYING DECISION NO. 1632/1998/QĐ-BTC OF OCTOBER 17, 1998 OF THE MINISTER OF FINANCE THAT DO NOT CONTRADICT THIS PROVISION SHALL REMAIN IN EFFECT.

THE DIRECTOR OF THE GENERAL DEPARTMENT OF TAXES, THE CHIEF EXECUTIVE OFFICER OF THE CENTRAL TREASURY, AND THE HEAD OF THE STATE BUDGET DEPARTMENT SHALL BE RESPONSIBLE FOR IMPLEMENTING THIS DECISION.

Article 2:                                                                                   NGUYEN THI KIM NGAN

Article 3:                                                                                       (SIGNED)

                                                                                   Nguyen Thi Kim Ngan

                                                                                   (Signed)