Regulations on making the financial plan on the State budget

VCN- The Government has issued Decree No. 45/2017/ND-CP regulating the implementation of a number of articles of the State Budget Law on the 5-year financial planning and 3-years financial - state budget planning; the tasks and powers of the relatrd agencies and units in the plan-making.
regulations on making the financial plan on the state budget
Regulations on making 5-year financial plan and 3-year financial plan on the State budget. Picture: Internet.

Making 3-year financial plan.

As the regulations, the five-year financial plan is the financial plan for the implementation of the targets and tasks of the national and local socio-economic development plans in 5 years; setting the basic goals and targets of finance - state budget over the five-year plan; playing a decisive role in the three-year state budget and annual state budget estimates.

The Ministry of Finance chairs and collaborates with the Ministry of Planning and Investment as well as the related ministries and central agencies in the national five-year financial plan-making and report to the Government for submission to the National Assembly for consideration and decision.

Provincial People's Committees direct the Departments of Finance to chair, and cooperate with the Departments of Planning and Investment, and other related agencies in localities to make the provincial 5-year financial plans, report to the provincial people's councils for consideration and decision.

The Decree requires the five-year financial plan-making to be consistent with the targets, tasks and solutions set by the National Strategy for Socio-Economic Development; Financial strategies, public debt, reform of the tax system; Objectives, targets and orientations for socio-economic development in 5-year plans of the whole country and locality; be in accordance with the socio-economic situation, the ability to balance the state budget revenues, mobilization and repayment and national financial safety requirements within the five-year plan; be in accordance with the principles of balancing, managing, decentralizing revenue sources, spending on the state budget, principles of public debt safety management; prioritize the allocation of the state budget funds for the implementation of major policies of the Party and the State in each specific period.

Making the 3-year financial-state budget plan.

The 3-year financial plan on the State budget is the financial plan on the State budget is made annually under the rolling mode for 3 years, from the year of the state budget estimates and the next two years.

The 3-year financial plan on the State budgetfor the implementation of the 5-year financial plan, presenting major contents of the state budget balance sheet and budget ceiling for ministries, agencies, units and localities for 3 years, within the current economic-social and financial- state budget situation and updating the prediction over 3 years, which will serve as a basis for the making, considering, and deciding on the annual state budget estimates.

The Ministry of Finance chairs and collaborates with the Ministry of Planning and Investment to synthesize the 3-year financial plans to report to the Government for submission to the National Assembly for discussion and consideration, approval to the State budget estimates and the annual central budget allocation.

The Departments of Finance chairs, and cooperates with the Departments of the Planning and Investment to synthesize the provincial 3-year financial plans to report to the provincial-level People's Committees and People's Councils at the same level for discussion, consideration, and approval to the state budget estimates and the annual local beget allocation.

Ministries, central agencies and other buget agencies, units at provincial level 1 make the 3-year financial plan under their management and submit to the financial, planning and investment agencies at the same level to synthesize.

The Decree stipulates that The 3-year financial plan on the State budgetmust be in accordance with the actual implementation of the objectives, targets, and orientations of the annual 5-year and socio-economic development; predict over 3 years; fully reflect state budget revenues and other revenues as prescribed by law; budget expenditures are based on the sectoral structure and large expenditures, within the ceiling of budget expenditures informed by the competent agencies; ensure the principle of balancing, managing, decentralizing the budget and managing public debt in accordance with the State Budget Law and the Law on Public Debt Management.

By Hương Dịu/Kiều Oanh

Related News

Regulations on land finance have not adapted to reality

Regulations on land finance have not adapted to reality

VCN - On the morning of February 28, the Ministry of Finance held a conference to gather opinions on regulations related to land finance in the draft Land Law (amended) and other issues under the State management scope of the Ministry. Deputy Minister Nguyen Duc Chi attended and chaired the conference.
Standardizing and unifying regulations on goods origin inspection

Standardizing and unifying regulations on goods origin inspection

VCN - The amendment and supplementation of regulations on inspection and determination of the origin of exported and imported goods will meet the goal of standardizing and unifying inspection regulations in accordance with international commitments.
New Canadian regulations: What should packaging businesses pay attention to?

New Canadian regulations: What should packaging businesses pay attention to?

VCN - Canada's new regulation on plastic packaging applied from the beginning of 2023 may affect Vietnam's exports of processed foods and other products to this market.
Strive to reduce budget deficit in financial plan for 2023-2025

Strive to reduce budget deficit in financial plan for 2023-2025

VCN - In the three-year state budget-financial plan for 2023-2025, the budget deficit in 2023 is expected to be about 4.42% of GDP; those in 2024-2025 strive to gradually reduce to maintain the average rate in the five years under the financial plan 2021-2025.

Latest News

Enterprises have the right to pre-determine HS codes

Enterprises have the right to pre-determine HS codes

VCN - At the dialogue conference between Ho Chi Minh City Customs Department and import-export enterprises at the weekend, enterprises raised many problems related to HS code application, and post-clearance audit.
Amendment to Decree 14 to prevent goods congestion at border gates

Amendment to Decree 14 to prevent goods congestion at border gates

VCN – When Government Decree No14/2018/ND-CP dated January 23, 2018, is revised to shift the border trade from unofficial-quota trade to official-quota trade to prevent goods congestion at border gates at harvest season or on holidays and Tet, there will be some changes in the management of the border trade.
Notes for businesses on tax policy

Notes for businesses on tax policy

VCN - According to experts, some businesses do not understand clearly tax documents and policies, especially new ones, leading to many risks in implementation.
Revising Law on Corporate Income Tax: Promoting resources for socio-economic development

Revising Law on Corporate Income Tax: Promoting resources for socio-economic development

VCN - After a long time of implementation and many changes in reality, it is time to amend the Law on Corporate Income Tax (CIT) to remove difficulties for production and business activities, and open up and promote resources for economic and social development.

More News

Apply 609 preferential export tax lines, 11,526 special preferential import tax lines to implement the CPTPP Agreement

Apply 609 preferential export tax lines, 11,526 special preferential import tax lines to implement the CPTPP Agreement

VCN - To enjoy the preferential export tax rates under the Preferential Export Tariff and the Special Preferential Import Tariff of Vietnam implementing the CPTPP Agreement from 2022 to 2027, exported goods must have transport documents and import customs declarations or documents replacing customs declarations showing that the destination is in the territory of the member countries in which the CPTPP Agreement has entered into force, regulated in the scope of Decree No. 115/2022 /ND-CP dated December 30, 2022.
Difficulties in determining samples for testing

Difficulties in determining samples for testing

VCN – Customs face challenges in determining whether imported food samples for testing are exempt from state inspection for food safety, as well as in identifying which products require registration for announcement purposes.
GDVC instructs application of C/O form D

GDVC instructs application of C/O form D

VCN – ASEAN member states must declare HS code 2022 on Certificate of Origin from April 1.
Goods imported from export processing enterprises must pay tax

Goods imported from export processing enterprises must pay tax

VCN - According to the Law on Import and Export Duties provisions, if a domestic enterprise imports products of export processing enterprises, they must pay tax.
Review, perfect regulations on decentralization of public property management

Review, perfect regulations on decentralization of public property management

VCN - The Ministry of Finance has sent an official letter to ministries, central and local agencies on improving legal documents under the power for promulgation of ministries, central and local agencies on the management and use of public property.
MoF develops excise tax policy to promote electric vehicle production

MoF develops excise tax policy to promote electric vehicle production

VCN – The Ministry of Finance is considering adjusting excise tax rates for some environmentally friendly products in the revised Law on Excise Tax.
Enterprises must submit dossiers and documents to identify authenticity of goods

Enterprises must submit dossiers and documents to identify authenticity of goods' value

VCN – According to regulations, for customs declarations selected for customs valuation, customs declarants must submit dossiers and documents to identify the authenticity of the declared goods' value.
Removing difficulties in the implementation of VAT policy

Removing difficulties in the implementation of VAT policy

VCN - For businesses to understand and strictly comply with the regulations on the declaration of value-added tax (VAT) rate for import and export goods, the General Department of Customs has continuously issued guiding documents, which is considered an important part of bringing policies into practice.
Correcting policy to avoid overlaps in inspection and supervision at land border gates

Correcting policy to avoid overlaps in inspection and supervision at land border gates

VCN - Currently, the draft Decree amending and supplementing Decree No. 08/2015/ND-CP dated January 21, 2015 is being submitted to the Government for signing and promulgation of amendments related to customs inspection and supervision procedures for means of transport on exit, entry and transit in the draft Decree that was amended and supplemented to meet the requirements of administrative procedure reform.
Read More

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read
Enterprises have the right to pre-determine HS codes

Enterprises have the right to pre-determine HS codes

VCN - At the dialogue conference between Ho Chi Minh City Customs Department and import-export enterprises at the weekend, enterprises raised many problems related to HS code application, and post-clearance audit.
Amendment to Decree 14 to prevent goods congestion at border gates

Amendment to Decree 14 to prevent goods congestion at border gates

VCN - The draft Decree revising Decree 14/2018/ND-CP on border trade activities is being drafted and gathered opinions from ministries, government agencies and people by the Ministry of Industry and Trade.
Notes for businesses on tax policy

Notes for businesses on tax policy

VCN - According to experts, some businesses do not understand clearly tax documents and policies, especially new ones, leading to many risks in implementation.
Revising Law on Corporate Income Tax: Promoting resources for socio-economic development

Revising Law on Corporate Income Tax: Promoting resources for socio-economic development

VCN - After a long time of implementation and many changes in reality, it is time to amend the Law on Corporate Income Tax (CIT) to remove difficulties for production and business activities, and open up and promote resources for economic and social devel
Apply 609 preferential export tax lines, 11,526 special preferential import tax lines to implement the CPTPP Agreement

Apply 609 preferential export tax lines, 11,526 special preferential import tax lines to implement the CPTPP Agreement

VCN - To enjoy the preferential export tax rates under the Preferential Export Tariff and the Special Preferential Import Tariff of Vietnam implementing the CPTPP Agreement from 2022 to 2027, exported goods must have transport documents and import customs
Mobile Version