Chapter III
REVENUES AND EXPENDITURES
Article 17. Management of revenues and expenditures of Deposit Insurance of Vietnam
1. The Board of Directors of Deposit Insurance of Vietnam shall be held accountable to the State bank of Vietnam and the law in the close management, guarantee of the correctness, honesty and legality of amounts receivable and costs of Deposit Insurance of Vietnam.
2. All of amounts receivable and expenditures on the operation of Deposit Insurance of Vietnam shall have documentary evidence in accordance with regulations of law and be sufficiently recorded in accounting books of Deposit Insurance of Vietnam in conformity with accounting system prescribed by the Ministry of Finance.
3. All of amounts receivable and expenditures of Deposit Insurance of Vietnam shall determined by Vietnamese dong; in case of amounts receivable and expenditures in a foreign currency, they shall be converted into Vietnamese dong in accordance with applicable law.
4. Deposit Insurance of Vietnam shall make correct and sufficient calculation of operating costs, cover all expenditures using its amounts receivable and take responsibility for its operating performance.
Article 18. Receipts of Deposit Insurance of Vietnam
1. Receipts of Deposit Insurance of Vietnam consist of:
1.1. Receipts from financial activities: is an amount deducted from the revenue earned from annual investment of idle funds in accordance with Clause 2 Article 6 hereof.
1.2. Receipts from deposit insurance services:
a) Receipts from fines imposed on insured institutions that violate regulations on the amount and time limit for payment of premiums according to the provisions of law;
b) Receipts from other deposit insurance services.
1.3. Receipts from other activities:
a) Receipts from liquidation, sale and assignment of fixed assets;
b) Receipts from lease of fixed assets;
c) Receipts from consultancy services and training for officers of insured institutions;
d) Other receipts.
2. Rules for accounting of receipts
Amounts receivable of Deposit Insurance of Vietnam must be determined in accordance with accounting standards and relevant law provisions with eligible documentary evidence and be included in revenues. With regard to amounts receivable from financial activities:
2.1. At the end of month or quarter, Deposit Insurance of Vietnam shall rely on a rate permissible to be deducted from the receipts from annual investment of idle capital to cover operational expenses according to the regulations set out in Clause 2 Article 6 hereof and the receipts earned from the investment of idle capital in such a month, quarter shall be temporarily deducted for entering in the accounts as earnings (equal to the multiplication of the rate by the receipts from the investment of idle capital); the remaining receipts from the investment of idle capital shall be entered in the technical reserve funds. In case such a deductible rate used to cover operational expenses is yet to be approved by the Ministry of Finance, Deposit Insurance of Vietnam shall temporarily enter into the accounts as earnings with a rate equal to 80% of the preceding year’s deductible rate.
2.2. At the end of year, based on the year’s receipts from investment of idle capital, Deposit Insurance of Vietnam shall be responsible for entering accurately the receipts in the accounts as earnings and the receipts after being partly deducted to cover the expenses according to the regulations set out in Clause 2 Article 6 hereof shall be supplemented to the technical reserve funds;
2.3. After State Audit of Vietnam’s annual finance audit report or the competent agencies’ conclusions on financial receipts and expenditures of Deposit Insurance of Vietnam are available, in the event the receipts from the investment of idle capital change, Deposit Insurance of Vietnam shall be responsible for adjusting allocation of the receipts to earnings and the receipts after being partly deducted to cover the operational expenses according to the regulations set out in Clause 2 Article 6 hereof to be supplemented to the technical reserve funds.
Article 19. Expenditures of Deposit Insurance of Vietnam
1. Expenditures of Deposit Insurance of Vietnam consist of:
1.1. Expenditures for interests for the loans coming from Deposit Insurance of Vietnam’s capital temporarily insufficient to pay insurance payout to depositors according to the regulations set out in Clause 12, Article 13 of the Law on deposit insurance.
1.2. Expenditures on payment and entrusted services.
1.3. Expenditures on participation in special control process; participation in management and liquidation of assets of insured institutions.
1.4. Expenditures for debt collection services (if any) to organizations permitted to practice debt collection services according to the provisions of law with respect to doubtful debts and debts of which Deposit Insurance of Vietnam has become the creditor when participating in the liquidation of assets of insured institutions going bankrupt according to the provisions of law.
1.5. Expenditures for exchange differences according to the regulations set out in the accounting standards and the provisions of law.
1.6. Expenditures for propagation and education of law and deposit insurance policies. Content and amount of payment shall be applied according to the provisions of law. Total amount of payment for these expenditures should not exceed 3% of the total appropriate payment.
1.7. Expenditures to employees:
a) Wages and remuneration paid to managerial officers of Deposit Insurance of Vietnam as instructed by the Ministry of Labor, Invalids and Social Affairs;
b) Wages and amounts considered wages paid to employees as decided by the Board of Directors according to the instructions of the Ministry of Labor, Invalids and Social Affairs;
c) Expenditures on food expenses in accordance with regulations of law on corporate income tax;
d) Expenditures on female laborers according to regulated regime;
dd) Expenditures on business attire in cash or in kind: not exceeding the prescribed maximum amount of payment for business attire in accordance with regulations of law on corporate income tax;
e) Expenditures on personal protective equipment as regulated;
g) Expenditures on severance pay and redundancy pay;
h) Expenditures on regular check-ups for laborers and other medical expenses according to regulated regime;
i) Expenditures on annual leave pay;
k) Expenditures on social insurance, medical insurance, unemployment insurance, trade union expenses and other contributions according to regulated regime;
l) Expenditures of welfare nature paid for employees in accordance with law on corporate income tax (if any).
1.8. Expenditures on management activities including:
a) Expenditures on office supplies;
b) Expenditures on postal services, communications, telexes, leased lines, facsimile transmission;
c) Expenditures on electricity, water, medical services, office and environment sanitation;
d) Expenditures on fuel;
dd) Expenditures on formalities, external relations, festivities and conferences according to current regulations and must be closely related to activities of Deposit Insurance of Vietnam. These expenditures must not exceed 5% of the total appropriate payment.
e) Expenditures on officers’ domestic business travel expenses;
g) Expenditures on officers’ overseas business travel expenses: to be applied according to the proposed plan approved by Deposit Insurance of Vietnam. Content and amount of payment shall be applied according to state regulations on short-term foreign travel expenses for officers and public servants from public service providers and guaranteed by state budget.
h) Expenditures on training officers: to be applied within the plan of training officers approved by Board of Directors of Deposit Insurance of Vietnam. Content and amount of payment shall be applied according to state regulations on management and use of expenses for training officers and public servants;
i) Expenditures on scientific research: to be applied within the plan of scientific research approved by the Board of Directors of Deposit Insurance of Vietnam. Content and amount of payment: to be applied according to state regulations with respect of scientific and technological topic and project using state budget;
k) Expenditures on employment of domestic and foreign specialists: to be applied within the five-year plan approved by Board of Directors of Deposit Insurance of Vietnam;
l) Expenditures on investigation, inspection and auditing;
m) Expenditures on fines for violations of business contracts caused by objective events.
n) Expenditures on rewards for initiative in improving and increasing labor productivity, rewards for practice of material and expense thrift. Amount of reward decided by the General Director shall be based on levels of productivity from mentioned above jobs but not higher than the amount saved by those jobs in a year. Deposit Insurance of Vietnam must promulgate regulations on commendation and take legal responsibility for efficiency and soundness of the regulations;
o) Expenditures on environmental protection tasks;
p) Expenditures on court proceedings (if any);
q) Expenditures for other management tasks as regulated.
1.9. Expenditures on loan loss reserves in accordance with law on enterprises.
1.10. Expenditures on assets:
a) Fixed asset depreciation: Based on the provisions of law on management, use and deduction of fixed asset depreciation with respect to enterprises, Board of Directors of Deposit Insurance of Vietnam shall define specifically rate of deduction for each type of asset in the internal financial statute in accordance with particular operation;
b) Expenditures on purchase of asset insurance;
c) Expenditures on purchase of labor means;
d) Expenditures on maintenance and repair of assets: Maximum annual payment should not exceed 5% of fixed assets value on average;
dd) Expenditures on lease of assets under the contract of asset lease signed between the lessor and Deposit Insurance of Vietnam. In case payment for lease of assets is made once for multiple years, the rental shall be gradually allocated to the expenditures according to the number of years of use of the assets;
e) Expenditures on liquidation, sale and assignment of asset (including remaining value of assets and costs for liquidation and assignment);
g) The loss of assets that is not reimbursed by the prescribed sources.
1.11. Other expenditures:
a) Expenditures on activities of Communist Party and associations in case their budgets are not sufficient to cover activities according to regulated regime;
b) Expenditures for fire and explosion prevention, national defense and security;
c) Taxes, charges;
d) Membership fees imposed by Vietnamese and foreign trade associations of which Deposit Insurance of Vietnam is a member;
dd) Board of Directors of Deposit Insurance of Vietnam shall decide and take responsibility for the reasonable expenses that are necessary for its operation and not mentioned in this Circular.
2. Rules for accounting of expenditures
2.1. Expenditures of Deposit Insurance of Vietnam are expenses paid for operation of Deposit Insurance of Vietnam, consistent with rules of conformity between income and expenditures with sufficient documentary evidence in accordance with regulations of law and specified in annual financial plans of the State Bank of Vietnam. The expenditures shall be determined in accordance with accounting standards, law on corporate income tax and relevant law provisions.
2.2. Amounts of deposit insurance not allowed being included in expenditures:
a) Fines for violations against law by individuals as prescribed by law;
b) Expenditures not related to the operation of Deposit Insurance of Vietnam and not attached with eligible invoices or documents;
c) Expenditures covered by other sources;
d) Other expenditures as inappropriate.
Tìm kiếm
Thông tư 312/2016/TT-BTC chế độ tài chính đối với Bảo hiểm tiền gửi Việt Nam (Bản Word)
Thông tư 312/2016/TT-BTC chế độ tài chính đối với Bảo hiểm tiền gửi Việt Nam (Bản Pdf)
