Decision No. 96/2004/QD-BTC on the management of budget investment capital for Vietnam Oil and Gas Corporation from profits distributed by Vietsovpetro Joint Venture Oil and Gas Enterprise and production sharing contracts (PSC)

Pursuant to …;

On Managing State Budget Investment Capital for Vietnam Oil and Gas Corporation from Profit Shares of Vietsovpetro Joint Venture Enterprise and Production Sharing Contracts (PSC)

From profit shares of the Vietsovpetro Joint Venture Enterprise

and profit shares from Production Sharing Contracts (PSC)

 _________________

THE MINISTER OF FINANCE

Pursuant to Decree No. 60/2003/NĐ-CP dated June 6, 2003 of the Government detailing and guiding the implementation of the Law on State Budget;

Pursuant to Decree No. 77/2003/NĐ-CP dated July 1, 2003 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Decision No. 185/2003/QĐ-TTg dated September 10, 2003 of the Prime Minister abolishing regulations of the Prime Minister on the reissuance and reinvestment of state budget revenues from fiscal year 2004 onwards;

Implementing the opinion of the Prime Minister in Official Letter No. 6143/VPCP-DK dated November 10, 2004 of the Government Office;

At the proposal of the Director of the State Budget Department and the Director of the Legal Department,

DECISION:

Article 1. Starting from 2004, Vietnam Oil and Gas Corporation shall be responsible for remitting state budget revenue from profit shares (after tax payment) from the Vietsovpetro Joint Venture Enterprise (the portion enjoyed by Vietnam) and profit shares of the host country in Production Sharing Contracts (PSC) according to the prescribed state regulations.

Article 2. State-funded investment projects and works in the oil and gas sector assigned to Vietnam Oil and Gas Corporation shall be supported with capital from the state budget, implemented according to the approved state budget expenditure plan decided by the National Assembly and assigned by the Prime Minister to Vietnam Oil and Gas Corporation.

Article 3. Annually, on the 15th day of the first month of each quarter, based on the state budget expenditure plan assigned by the Prime Minister, the Ministry of Finance shall issue payment orders to provide state budget support investment capital to Vietnam Oil and Gas Corporation.

Article 4. Vietnam Oil and Gas Corporation shall be responsible for managing and using the capital in accordance with the investment capital management regulations and shall report and settle accounts according to the prescribed regulations.

Article 5. This Decision shall take effect 15 days from the date of publication in the Official Gazette. This Decision replaces Decision No. 58/QD-BTC dated July 6, 2004 and Circular No. 49/TC/NSNN dated July 30, 1997 of the Minister of Finance.

Article 6. The Directors of the State Budget Department, the Investment Department, the Corporate Financial Affairs Bureau, the Director General of the State Treasury, the Director General of the General Department of Taxation, the Chairman of the Board of Directors, and the General Director of Vietnam Oil and Gas Corporation are tasked with implementing this Decision./.