Thông tư 36/2021/TT-BTC hướng dẫn nội dung về đầu tư vốn Nhà nước vào doanh nghiệp và quản lý, sử dụng vốn, tài sản tại doanh nghiệp quy định tại Nghị định 91/2015/NĐ-CP; 32/2018/NĐ-CP; 121/2020/NĐ-CP và 140/2020/NĐ-CP do Bộ trưởng Bộ Tài chính ban hành

CIRCULAR

PROVIDING INSTRUCTIONS ABOUT SEVERAL REGULATIONS ON INVESTMENT OF STATE CAPITAL AND MANAGEMEN, USE OF CAPITAL, ASSETS AT ENTERPRISES PRESCRIBED IN DECREE NO. 91/2015/ND-CP DATED OCTOBER 13, 2015; DECREE NO. 32/2018/ND-CP DATED MARCH 8, 2018; DECREE NO. 121/2020/ND-CP DATED OCTOBER 9, 2020 OF THE GOVERNMENT

Pursuant to the Law on Management and Use of State Capital Invested in Production and Business Activities of Enterprises dated November 26, 2014;

Pursuant to the Government’s Decree No. 91/2015/ND-CP dated October 13, 2015 on investment of state capital, management and use of capital and assets at enterprises.

Pursuant to the Government’s Decree No. 32/2018/ND-CP dated March 8, 2018 on amendments and supplements to several Articles of the Decree No. 91/2015/ND-CP dated October 13, 2015 on investment of state capital in enterprises, management and use of state capital and assets at enterprises;

Pursuant to the Government’s Decree No. 121/2020/ND-CP dated October 9, 2020 on amendments and supplements to clause 2 of Article 12 in the Decree No. 91/2015/ND-CP dated October 13, 2015 on investment of state capital in enterprises, management and use of state capital and assets at enterprises that is amended or supplemented in clause 5 of Article 1 of the Government’s Decree No. 32/2018/ND-CP dated March 8, 2018 on amendments and supplements to several articles of the Decree No. 91/2015/ND-CP;

Pursuant to the Government’s Decree No.140/2020/ND-CP dated November 30, 2020, amending and supplementing several articles of the Government’s Decree No. 126/2017/ND-CP dated November 16, 2017, regarding transformation of state enterprises and single-member limited liability companies of which 100% of charter capital is held by state enterprises into joint-stock companies; the Government’s Decree No. 91/2015/ND-CP dated October 13, 2015, regarding investment of state capital in enterprises and management, use of capital and assets at enterprises and the Government's Decree No. 32/2018/ND-CP dated March 8, 2018, prescribing amendments and supplements to several Articles of the Decree No. 91/2015/ND-CP;

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

Upon the request of the Director of the Corporate Finance Department,

The Minister of Finance promulgates the Circular to provide instructions about implementation of several regulations on investment of state capital in enterprises, management and use of state capital and assets at enterprises.

Article 1. Scope and subjects of application

1. This Circular provides instructions about implementation of several regulations on investment of state capital and management, use of capital, assets at enterprises prescribed in the Decree No. 91/2015/ND-CP dated October 13, 2015; Decree No. 32/2018/ND-CP dated March 8, 2018; Decree No. 121/2020/ND-CP dated October 9, 2020 of the Government.

2. This Circular shall apply to entities and persons specified in Article 2 of Decree No. 91/2015/ND-CP and clause 1 of Article 2 of Decree No. 140/2020/ND-CP.

Article 2. Adjustment in charter capital

1. Adjustment in charter capital at wholly state-owned enterprises.

a) For newly established enterprises, based on enterprise establishment projects decided by competent authorities and actual amounts of state capital allocation (for enterprises newly established by executing construction investment projects), state capital already issued according to the final settlement of completed works approved by competent authorities (for enterprises newly established by carrying out the process of handover of construction investment projects), an increase in the owner's investment capital shall be recorded in their accounting books. These enterprises shall register the amount of charter capital in the Certificates of Business Registration upon establishment which is equal to the actual state allocation and investment amount in accordance with the Law on Enterprises.

b) For active enterprises, the adjustment of charter capital shall be subject to the provisions of Article 11 of Decree No. 91/2015/ND-CP, Clause 4, Article 1 of Decree No. 32/2018/ND-CP and Clause 7, Article 2 of Decree No. 140/2020/ND-CP of the Government.

Enterprises whose charter capital has been approved by competent authorities since 2020 or earlier must review and develop plans to determine charter capital and additional investment in charter capital as prescribed in Clause 21, Article 2 of Decree No. 140/2020/ND-CP for submission to competent authorities for approval. When determining the indicator "the most recently approved charter capital before the time of re-determination" specified in Article 9 of Decree No. 91/2015/ND-CP and Clause 5, Article 2 of Decree No. 140/2020/ND-CP, enterprises shall refer to the actual equity available on their financial statements as of December 31, 2020, based on which profits have been distributed according to regulations. Actual equity is determined by paid-in capital (No. 411), Development Investment Fund (No. 418) and capital construction investment (No. 422) on the Balance Sheet of each enterprise. For enterprises on the list of businesses to be equitized that is approved by competent authorities, when determining the charter capital, the addition to charter capital from the state budget and the Support Fund for business reorganization and development shall not be included.

For enterprises that do not require any addition to their charter capital or prepare plans for determination of their charter capital and additional investment in charter capital specified in Clause 7, Article 2 of Decree No. 140/2020/ND-CP, the owner's representative agency shall be responsible for checking, deciding and directing them to make payment of the differences between equity and charter capital to the state budget. Such payment of differences does not affect their solvency and debt repayment obligations. Within 10 days from the date on which the owner’s representative agencies issue their decisions, enterprises shall be responsible for remitting differences between equity capital and charter capital into the state budget and, at the same time, accounting for reduction in paid-in capital according to current regulations.

2. Adjustment of charter capital when adding state capital invested in joint-stock companies, multiple-member limited liability companies shall conform to the provisions of Clause 2, Article 12, Article 14 and Article 18 of Decree No. 91 /2015/ND-CP; Clause 5, Article 1 of Decree No. 32/2018/ND-CP; Article 1 of Decree No. 121/2020/ND-CP; Clause 9 and Clause 10, Article 2 of Decree No. 140/2020/ND-CP of the Government.

The owner's representative agency shall direct the agent to request a joint stock company or a multiple-member limited liability company to register additional capital in accordance with the Law on Enterprises and, at the same time, issue a written notice of total actual value of the state capital invested in (actually contributed to) the company and the number of shares held by state shareholders (for investment in joint stock companies) within 01 month after the company increases its charter capital to the owner's representative agency for monitoring and management purposes.

Article 3. Transfer of shares, right to buy shares, right to contribute investment capital of the State and enterprises of which 100% of charter capital is held by the State

1. Principles, authority of making decisions on and method of transfer of state capital at joint stock companies, multiple-member limited liability companies shall be subject to Article 38 of Decree No. 91/2015/ND-CP; Clause 15 and 16, Article 1 of Decree No. 32/2018/ND-CP; Clause 18 and 19, Article 2 and Clause 4 and 5, Article 5 of Decree No. 140/2020/ND-CP. Organizations having competence in valuation shall, based on the methods of business valuation specified in the Circular No. 28/2021/TT-BTC dated April 27, 2021 of the Ministry of Finance, issue Vietnam Valuation Standards No. 12 and documents stating amendments, supplements and replacement (if any) to determine the starting prices applied to transfer of shares, according to which brand value (including cultural and historical value) in the business value is determined according to the business valuation methods as prescribed.

When transferring shares to another organization or individual that is not a member of a multiple-member limited liability company (after the company’s members refuse to purchase any or buy all of these shares), the owner's representative agency shall direct the agent of the state capital portion in a multiple-member limited liability company to comply with the provisions of Article 38 of Decree No. 91/2015/ND-CP; Clause 15 and Clause 16, Article 1 of Decree No. 32/2018/ND-CP; Clause 18, Clause 19, Article 2 and Clauses 4 and 5, Article 5 of Decree No. 140/2020/ND-CP. The owner's representative agency shall decide to apply the capital transfer method in accordance with the charter of the enterprise in order to ensure all shares to be transferred are divested and the maximum number of members stipulated in the Law on Enterprises is controlled.

2. Principles, authority of making decisions on and method of transfer of intercorporate investment of enterprises of which charter capital is wholly held by the State shall be subject to Article 29 in the Decree No. 91/2015/ND-CP; Clause 12 and 13, Article 1 of Decree No. 32/2018/ND-CP; Clause 15 and 16, Article 2 and Clause 2 and 3, Article 5 of Decree No. 140/2020/ND-CP. Organizations having competence in valuation shall, based on the methods of business valuation specified in the Circular No. 28/2021/TT-BTC dated April 27, 2021 of the Ministry of Finance, issue Vietnam Valuation Standards No. 12 and documents stating amendments, supplements and replacement (if any) to determine the starting prices applied to transfer of shares, according to which brand value (including cultural and historical value) in the business value is determined according to the business valuation methods as prescribed.

When transferring shares to another organization or individual that is not a member of a multiple-member limited liability company (after the company’s members refuse to purchase any or buy all of these shares), the enterprise of which charter capital is wholly held by the state shall comply with the provisions of clause 13, Article 1 of Decree No. 32/2018/ND-CP, clause 15 and 16 of Article 2, clause 2 and 3 of Article 5 of Decree No. 140/2020/ND-CP. The enterprise shall decide to apply the capital transfer method in accordance with the charter of the enterprise in order to ensure all shares to be transferred are divested and the maximum number of members stipulated in the Law on Enterprises is controlled.

3. The transfer of the right to buy shares, the right to contribute capital of the enterprise of which 100% of charter capital is held by the Stat /the right to buy shares, the right to contribute capital of the State to a joint-stock company or multiple-member limited liability company shall comply with the provisions of Clause 17, Article 1 of Decree No. 32/2018/ND-CP and Clause 20, Article 2 of Decree No. 140/2020/ND-CP.

4. If assets are transferred without expecting any recompense from the State of Vietnam according to commitments after the operating term stated in a joint venture contract expires, such transfer shall be subject to the provisions of the Law on Investment, the Law on Management and Use of Public Property and related instructional documents.

5. The sample Regulations on transfer of capital of enterprises of which 100% of charter capital is held by the State, state capital invested in joint-stock companies or multiple-member limited liability companies shall be attached hereto (Appendix No. 01). Based on the sample Regulations annexed hereto, actual condition of each unit has paid-in capital and shares that need to be transferred, the auctioning organization shall be responsible for issuing regulations on auctioning of shares/paid-in capital, related sample documents used for holding auctions after receipt of consent from the owner's representative agency.  

As regards the State Capital Investment Corporation, on the basis of the sample Regulations laid down in this Circular and the mechanism for selling state capital specified in Decree No. 140/2020/ND-CP and the Government's Decree on the functions, tasks and operation mechanism of the State Capital Investment Corporation, Members' Board of the corporation shall be responsible for formulating and promulgating the sample Regulations on sale of capital of the Corporation after receipt of consent from the owner’s representative agency.

6. If transfer of state capital or capital that enterprises of which 100% charter capital is held by the State invest in other enterprises is carried out according to the approved plans but information about such transfer have not yet been announced prior to November 30, 2020, review and adjustment should be made  according to the regulations given in the Decree No. 140/2020/ND-CP (including determining the starting price, approving the capital transfer plan) for further implementation purposes.

Article 4. Management of capital and assets at enterprises of which 100% of charter capital is held by the State

Management of capital and assets at enterprises of which 100% of charter capital is held by the State shall conform to the provisions of Section 1, Chapter III of Decree No.91/2015/ND-CP; Clause 6, Clause 7, Clause 8, Clause 9, Clause 10 of Article 1 of Decree No. 32/2018/ND-CP; Clause 11, Clause 12 and Clause 13 of Decree No. 140/2020/ND-CP and the following regulations:

1. Enterprises must develop and issue internal regulations for the management and use of their capital and assets that must clearly define cooperation of each department, clearly stipulate compensation responsibilities of each department and individual in cases where they cause loss or damage to an enterprise’s property and business.

2. The process of management, use and liquidation of assets of enterprises with specific assets, such as livestock, plants, equipment using radioactive sources, toxic substances and other specific property, shall not only conform to the regulations of the law on finance, but also ensure compliance with the provisions of specialized laws.

3. Regarding capital conservation, enterprises should apply the measures specified in Clause 2, Article 22 of Decree No. 91/2015/ND-CP to conserve state capital invested in enterprises, including:

a) When setting up provisions for risks, including provision for devaluation of inventories, loss of investments, bad debts and warranty of products, goods, construction works, enterprises shall comply with regulations of the Circular No. 48/2019/TT-BTC dated August 8, 2019 of the Ministry of Finance and documents stating amendments, supplements and replacement (if any); Provisions of enterprises operating in specific fields and enterprises performing political and social tasks shall be subject to specialized laws or permitted by competent authorities.

b) The profit or loss of an enterprise as a basis for assessing the degree of capital conservation specified in Clause 3, Article 22 of Decree No. 91/2015/ND-CP is defined as the difference between total revenue (including net sales from sale of goods and provision of services; financial sales and other earnings) minus (-) total expenses (including costs of goods sold; financial expenses; selling expenses; general and administrative expenses of the enterprise; other expenses) incurred from production and business activities of the enterprise that are accounted for according to regulations. If the difference is positive, the enterprise makes profits. If the difference is negative, the enterprise suffers losses. If there is no difference, the enterprise does not generate any profit or loss.

c) Managing and determining sales, other earnings and expenses for determination of their profit or loss (business results) as a basis for assessment of the degree of capital conservation shall be subject to the provisions of Article 30 in the Decree No. 91/2015/ND-CP, Vietnam’s Accounting Standards and Corporate Accounting Regime currently in effect that are issued by the Ministry of Finance.   Identifying sales, expenses and other earnings for tax assessment purposes shall be subject to tax legislation.

4. Recognizing, assessing and accounting for exchange differences of enterprises shall be subject to regulations of the corporate accounting regime issued by the Ministry of Finance. Enterprises shall not set aside foreign exchange gain made due to the re-evaluation of monetary items of foreign currency origin at the end of the period recorded in business results (if any) as rewarding and welfare funds and reward funds for business managers and controllers.

Article 5. Management of capital shares of enterprises of which 100% of charter capital is held by the State at joint stock companies and limited liability companies  

1. Management of capital of enterprises joint stock companies or limited liability companies shall conform to the provisions of Section 2, Chapter III and clause 5 of Article 42 of Decree No.91/2015/ND-CP; Clause 11, 12 and 13 of Article 1 of Decree No. 32/2018/ND-CP; Clause 22 of Article 2, Clause 2 and Clause 3 of Article 5 of Decree No. 140/2020/ND-CP.

If a subsidiary company is a single-member limited liability company of which 100% of the charter capital is held by the parent company, annually the parent company which is an enterprise of which 100% of charter capital is held by the State shall be responsible for approving the financial statement and deciding on the distribution and use of after-tax profits and collection of after-tax profits according to the financial regulations already applied to subsidiaries. In case where the equity in a subsidiary is greater than the approved charter capital, the enterprise shall transfer the difference to the parent company and record it as sales from financial activities as prescribed in Clause 14 of Article 2 in the Decree No. 140/2020/ND-CP.

2. Enterprises shall direct the agents of the enterprise's capital share in enterprises making capital contribution of 50% or more to the charter capital (hereinafter referred to as tier-II enterprises) to manage the capital in accordance with the provisions of Clause 22, Article 2 of the Decree. No. 140/2020/ND-CP. The transfer of capital of tier-II enterprises in other enterprises shall conform to the charter of the enterprise, laws on enterprises, laws on securities and other laws, ensuring conformance to the principles of market, publicity, transparency and return on investment at the highest rate.

Article 6. Inventorying assets and processing inventorying results at enterprises of which 100% of charter capital is held by the State

1. Enterprises must make an inventory of actual amounts of assets for quantifying short-term assets and long-term assets under the management and custody; the number of shares in their ownership; must reconcile liabilities and receivables in the following cases:

a) At the time of ruling off accounting books for preparation of the annual financial statement;

b) When executing decisions of competent authorities on split-up, split-off, merger, amalgamation, dissolution, bankruptcy or ownership conversion;

c) After the occurrence of natural disasters, hostility; or for other reasons leading to changes in their assets;

d) In other circumstances regulated by competent authorities.

2. Processing of inventorying results:

a) Processing inventorying results at the time of preparation of the annual financial statement:

- If there is a deficiency in assets concluded in the inventory results compared to those assets recorded in accounting books after reconciliation of data through fault of concerned teams or individuals, these teams or individuals at fault shall have to pay compensation. Members’ Boards or Presidents (with respect to enterprises without Members' Boards), General Directors and Directors shall issue decisions on compensation amounts and bear responsibility for their own decisions. Enterprises must record the value of the missing assets including compensation of these teams or individuals (if any), or the value of the assets that have gone missing due to other objective reasons, in the bookkeeping accounts or entries of operating expenses.

- In case where the number of assets concluded in the results of inventorying of assets is greater than those recorded in accounting books, enterprises must clearly identify the causes of excess of assets; record excess assets that do not need to be returned as other income; record assets that are excess without clear causes as other liabilities and payables; consult decisions to record the value of excess assets that are excess due to clearly identified causes and minutes on disposal thereof to record them appropriately.

b) The processing of inventorying results as prescribed at Points b, c and d, Clause 1 of this Article shall conform to the provisions of law in each specific case of inventorying.

c) Enterprises shall be responsible for promptly handling the loss of assets and debts. In case the loss of assets and debts are not treated, the Members' Board or the Company’s President (in the case of an enterprise without the Members’ Board), the General Director and the Director shall be responsible to the owner’s representative agency in the same manner as in the case of dishonest reporting on the financial situation of an enterprise and take responsibility before the law for any violations that may cause loss of business assets.

Article 7. Profit distribution by enterprises of which 100% of charter capital is held by the state

Profit distribution shall be subject to Article 31 of Decree No. 91/2015/ND-CP; Article 2 of Decree No. 32/2018/ND-CP; clause 4 of Article 4 of this Circular and the following regulations:

1. After using the enterprise’s profit determined according to the provisions of the law on accounting for compensating for the loss of the previous year according to the provisions of the law on corporate income tax, contribution to the science and technology development fund and payment of corporate income tax in accordance with laws, the remaining profit is distributed according to the provisions of Clauses 1, 2, 3, Article 31 of Decree No. 91/2015/ND-CP and Article 2 of Decree No. 32/2018 /ND-CP.

2. Bases for setting aside profit to contribute to the bonus and welfare fund and the reward fund for corporate managers and controllers shall be as follows:  

a) Classifying businesses into A, B and C as a basis for setting aside profit as contributions to the fund shall be subject to Government’s regulations on supervision of investment of state capital in enterprises; financial supervision for assessment of business performance and public disclosure of financial information of enterprises of which 100% of charter capital is held by the state and state-invested enterprises and Circulars providing instructions about this activity of the Ministry of Finance.

b) Setting aside monthly base wages or salaries to contribute to these funds:

With respect to the bonus and welfare fund: The base payroll realized in the financial year of employees which has been approved and determined according to the provisions of Decree No. 51/2016/ND-CP dated June 13, 2016 of the Government on labor management, salaries and bonuses for employees working in single-member limited liability companies of which 100% of charter capital is held by the State and documents providing amendments, supplements or replacement documents (if any) divided (:) by 12 months. In case where an enterprise implements the salary and bonus mechanism according to the Government’s particular regulations, these particular regulations shall prevail.

With respect to the reward fund for business managers and controllers: The base payroll realized in the financial year of business managers (whether full-time or part-time) which has been approved and determined according to the provisions of Decree No. 51/2016/ND-CP dated June 13, 2016 of the Government on salaries, wages bonus for managers of single-member limited liability companies of which 100% of charter capital is held by the State and documents providing amendments, supplements and replacement documents (if any) divided (:) by 12 months. In case where an enterprise implements the salary and bonus mechanism according to the Government’s particular regulations, these particular regulations shall prevail.

Article 8. Formulation of financial plans

1. Formulation of a financial plan for an enterprise of which 100% of charter capital is held by the state shall be subject to Article 33 in the Decree No. 91/2015/ND-CP and the following regulations:

a) On an annual basis and at the same time, Ministries, the Committee for State Capital Management at the enterprise and the People’s Committee of province or centrally-affiliated city shall formulate a budgetary estimate under the provisions of the Law on State Budget while the enterprise shall prepare the next year’s financial plan for submission to the owner’s representative agency, the same-level financial institution and the Ministry of Finance by July 31 for its synthesis for preparation of the state budget estimate. Bases for formulation and procedures for development of the financial plan shall be subject to Article 33 in the Decree No. 91/2015/ND-CP.

b) Sample report is given in Appendix No. 02 - Sample No. 01 "Financial plan of a wholly state-owned enterprise"; Sample No. 02 "Financial plan - Consolidated report of the wholly state-owned enterprise operating by using the parent-subsidiary model” to this Circular.  

2. On an annual basis and at the same time, Ministries, the Committee for State Capital Management at the enterprise and the People’s Committee of province or centrally-affiliated city shall formulate a budgetary estimate under the provisions of the Law on State Budget while the owner’s representative agency shall direct the agent of the state capital shares at a joint stock company or a multi-member limited liability company to consult the Resolution of the General Meeting of Shareholders/the Resolution of the Members’ Board and other relevant documents to prepare the next year’s financial plan for submission to the owner’s representative agency, the same-level financial institution and the Ministry of Finance by July 31 for its synthesis for preparation of the state budget estimate. Sample report is given in Appendix No. 02 - Sample No. 03 "Financial plan of a state-invested enterprise" to this Circular.

Article 9. Regime for preparation of reports and synthesis reports

1. Enterprises of which 100% of charter capital is held by the state shall implement the regulations on preparation, presentation and submission of (periodic or ad-hoc) reports to owner’s representative agencies and state regulatory authorities under the provisions of Article 35 in the Decree No. 91/2015/ND-CP and the following regulations:

a) Periodic reports, including:

- Financial statements: At the end of each accounting quarter or year, enterprises must prepare quarterly and yearly financial statements (including separate financial statements of parent companies and consolidated financial statements of economic corporations, state incorporations and parent companies belonging to the parent-subsidiary groups). Enterprises must prepare comprehensive quarterly and yearly financial statements.

Formats, deadlines for submission and places of receipt of statements shall be subject to the instructions given in the Circular No. 200/2014/TT-BTC dated December 22, 2014 of the Ministry of Finance, providing guidance on the corporate accounting regime, the Vietnam’s accounting standards and the Circular providing instructions about implementation of accounting standards that are promulgated by the Ministry of Finance and other documents stating amendments or supplements (if any).

- Reporting of several off-balance sheet accounts

When preparing quarterly and yearly financial statements, enterprises shall prepare reports on several off-balance sheet accounts in their quarterly and yearly financial statements. Submission deadlines and places of receipt of these statements are the same as those of financial statements of enterprises.

Templates of corporate reports are given in the Appendix No. 03 "Report on several off-balance sheet accounts" hereto. The templates include sample Report No. 01 – Reporting of off-balance sheet accounts; sample Report No. 02 – Reporting of several off-balance sheet accounts - Consolidated report of the enterprise operating by using the parent-subsidiary model.

b) Reports on corporate restructuring situations

On a quarterly basis, enterprises under restructuring shall give updated information and data on their restructuring activities by the 20^th day of the last month of a quarter and complete the preparation and submission of the following reports to owner’s representative agencies, same-level financial institutions and the Ministry of Finance by the 22^nd day of the last month of a quarter:

- Reports on reorganization and equitization shall be made according to the Appendix No. 04 "Sample report on equitization of enterprises of which 100% of charter capital is held by the state and single-member limited liability companies of which 100% of charter capital is held by wholly state-owned enterprises" to this Circular.

- Reports on divestment of investment capital made according to the Appendix No. 05 “Sample report on divestment at enterprises” to this Circular.

c) Report on outward investment activities 

Based on annual financial statements that already exist, enterprises shall prepare reports on outward investment activities for submission to the owner’s representative agencies, same-level financial institutions and the Ministry of Finance by the deadlines for submission of yearly financial statements.

Reports are made according to the Appendix No. 06 “Sample report on outward investment activities” to this Circular, including: Sample Report No. 01 – Report on investment and divestment of outward investment capital; Sample Report No. 02 – Report on operation of outward investment projects".

d) In addition to reports specified in point a, b and c of clause 1 of this Article, enterprises must prepare and submit ad-hoc reports upon the request of the owner's representative agency and state regulatory authority. Contents (sample report), deadline for submission shall vary depending on specific demands of the owner's representative agency and the state regulatory authority.

2. State-invested enterprises shall prepare, present and submit yearly financial statements according to sample reports, deadlines for submission and places of receipt of statements specified in the instructions given in the Circular No. 200/2014/TT-BTC dated December 22, 2014 of the Ministry of Finance, providing guidance on the corporate accounting regime, the Vietnam’s accounting standards and the Circular providing instructions about implementation of accounting standards that are promulgated by the Ministry of Finance and other documents stating amendments or supplements (if any).

In addition to implementing rights and responsibilities specified in clause 3 of Article 37 in the Decree No. 91/2015/ND-CP; clause 14 of Article 1 in the Decree No. 32/2018/ND-CP and clause 17 of Article 2 in the Decree No. 140/2020/ND-CP, based on audited yearly financial statements of joint stock companies or multiple-member limited liability companies, agents of state capital shares at enterprises shall be responsible for synthesizing and submit reports made according to the Appendix No. 03 and 06 hereto to owner's representative agencies, same-level financial institutions and the Ministry of Finance by the deadlines for submission of yearly financial statements.

In addition to the aforesaid reports, agents of state capital shares must prepare and submit ad-hoc reports upon the request of the owner's representative agencies and state regulatory authorities. Contents (sample report), deadline for submission shall vary depending on specific demands of the owner's representative agency and the state regulatory authority.

3. Ministries, the Committee for Management of State Capital and People’s Committees of centrally-affiliated cities and provinces shall assume the following responsibilities:

a) Within 03 days of receipt of reports from enterprises and agents, they must consolidate reports of wholly state-owned enterprise, state-invested enterprises and reports of agents of state capital shares at joint stock companies or multiple-member limited liability companies under their jurisdiction according to Appendix No. 02, 03 and 06 mentioned above into a general report submitted to the Ministry of Finance for its synthesis of a nationwide report to be submitted to competent regulatory authorities.

b) On a quarterly basis, they shall give updated information and data on their restructuring activities under their remit by the 20^th day of the last month of the quarter and complete the preparation and submission of reports made according to the Appendix No. 04 and 05 mentioned above to the Ministry of Finance by the 25^th day of the last month of the quarter for its synthesis of a nationwide report to be submitted to competent regulatory authorities.

4. Owner’s representative agencies, enterprises, agents of state capital shares at enterprises shall submit reports to receiving authorities by mails or by visiting the corporate financial management information system on the website at http://soe.mof.gov.vn or http://dnnn.mof.gov.vn according to the regulations laid down in Article 8 and clause 1, 2 and 3 of this Article. Accounts and passwords used for signing in accounts of owner’s representative agencies, enterprises, agents of state capital shares at enterprises shall be subject to the following regulations:

a) As for owner’s representative agencies, they shall assign an affiliated unit to authorize an individual to take charge of a sign-in account and password issued by the Ministry of Finance.

b) As for enterprises: Sign-in accounts are TINs of enterprises and passwords shall be sent to enterprises' emails registered with the Ministry of Finance.

c) As for agents of state capital shares at enterprises: Sign-in accounts are TINs of enterprises and passwords shall be sent to emails of agents of state capital shares at enterprises registered with the Ministry of Finance.

Article 10. Entry into force

This Circular shall take effect from July 10, 2021, replacing the Circular No. 219/2015/TT-BTC dated December 31, 2015 of the Ministry of Finance, providing instructions about the implementation of a number of articles of the Government’s Decree No. 91/2015/ND-CP dated October 13, 2015 on state capital investment in enterprises and financial management of capital and assets at enterprises and the Circular No. 59/2018/TT-BTC dated July 16, 2015. 2018 of the Ministry of Finance, amending and supplementing a number of articles of the Circular No. 219/2015/TT-BTC dated December 31, 2015 of the Ministry of Finance.

In the course of implementation of this Circular, if there is any difficulty that arises, the Ministry of Finance should be informed for its review and decision on any necessary and timely amendment or supplement./.