Circular No. 58/2019/TT-BTC dated August 30, 2019 of the Ministry of Finance on prescribing the management and use of the State Treasury’s accounts opened at the State Bank of Vietnam and commercial banks

CIRCULAR

Prescribing the management and use of the State Treasury’s accounts opened at the State Bank of Vietnam and commercial banks

Pursuant to the June 25, 2015 Law on the State Budget;

Pursuant to the Government’s Decree No. 163/2016/ND-CP of December 21, 2016, detailing the implementation of a number of articles of the Law on the State Budget;

Pursuant to the Government’s Decree No. 24/2016/ND-CP of April 5, 2016, providing the regime for management of state treasures;

Pursuant to the Government’s Decree No. 87/2017/ND-CP of July 26, 2017, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Prime Minister’s Decision No. 26/2015/QD-TTg of July 8, 2015, defining the functions, tasks, powers and organizational structure of the State Treasury under the Ministry of Finance;

At the proposal of the General Director of the State Treasury;

The Minister of Finance promulgates the Circular prescribing the management and use of the State Treasury’s accounts opened at the State Bank of Vietnam and commercial banks.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation and subjects of application

1. Scope of regulation:

This Circular prescribes the management and use of the State Treasury’s accounts opened at the State Bank of Vietnam (below referred to as the SBV) and commercial banks for collection of state budget revenues and payment of state budget expenditures.

2. Subjects of application:

a/ The Central State Treasury: State Treasury transaction bureaus; State Treasuries of provinces and centrally-run cities (below referred to as provincial-level State Treasuries); State Treasuries of urban districts, rural districts, towns and provincial cities (below referred to as district-level State Treasuries).

b/ Commercial banks involved in the bilateral electronic payment and organizations coordinating with the State Treasury in the collection of state treasure revenues.

Article 2. Interpretation of terms

1. State treasures means all monetary amounts of the State at the State Treasury as specified in Article 62 of the Law on the State Budget.

2. Collection of state budget revenues covers state treasure revenues; revenues of state financial funds and economic units and organizations having their accounts opened at the State Treasury, and other revenues as specified by law.

3. Payment of state budget expenditures covers state budget expenditures; expenditures of state financial funds and economic units and organizations having their accounts opened at the State Treasury, and other expenditures as specified by law.

4. Payment account means demand deposit account of the State Treasury units (State Treasury transaction bureaus, provincial-level and district-level State Treasuries) at commercial banks and used to collect state treasure revenues  and pay state budget expenditures.

5. General payment account means a demand deposit account of the Central State Treasury at commercial banks and the SBV, which are used to rally balances of payment accounts and specialized collection accounts of the same banking system or from other general payment accounts (if any).

6. Specialized collection account means a demand deposit account of provincial- and district-level State Treasuries at commercial banks, which are used to collect state treasure revenues.

7. General specialized collection account means a demand deposit account of the Central State Treasury at commercial banks, which are used to collect balances of specialized collection accounts of the same commercial bank system.

8. Inter-bank electronic payment means the process of handling payment transactions via the inter-bank electronic payment system specified in Clause 1, Article 2 of the SBV’s Circular No. 23/2010/TT-NHNN of November 9, 2010, prescribing the management, operation and use of inter-bank electronic payment system.

9. Bilateral electronic payment means the process of handling payment transactions by an electronic centralized method between the State Treasury and a commercial banking system via the computer network.

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