Inventory of public assets aims to accurately reflect the true nature of state budget resources

VCN - Implementing Decision No. 213/QD-TTg of the Prime Minister on the Project for a total inventory of public assets (TSC), currently the lead unit, the Ministry of Finance, is implementing work to carry out a total inventory of TSC at agencies, organizations, units and infrastructure assets invested and managed by the State in ministries, branches and localities across the country.
Handling public assets to ensure effective use Handling public assets to ensure effective use
Ministry of Finance conducts general verification of public assets Ministry of Finance conducts general verification of public assets
Strong decentralization for ministries, branches and localities to manage and use electricity projects Strong decentralization for ministries, branches and localities to manage and use electricity projects
Transport infrastructure assets will be inventoried in the total inventory of public assets. Illustration photo: ST
Transport infrastructure assets will be inventoried in the total inventory of public assets. Illustration photo: ST

According to Mr. Nguyen Tan Thinh, Director of the Department of Public Asset Management, the most recent total inventory of the country's assets was from January 1, 1998. However, the 1998 general inventory only conducted TSC inventory in the administrative and public service areas. During this general inventory, a total inventory of assets will be conducted nationwide for 2 types of assets, including: assets at administrative and public service units; Infrastructure assets are invested and managed by the State.

Data on TSC is not complete and consistent

According to the Department of Public Asset Management (Ministry of Finance), recently, many opinions have said that the data related to TSC do not accurately reflect the true state budget resources spent. Accordingly, the annual budget spent on construction and procurement of TSCs is large but the number of TSC is much lower. At the same time, according to the provisions of law on management and use of assets, agencies, organizations and units must fully report, account for the quantity, items and value of assets, although, this work has not been given due attention, and data on TSC are not complete and consistent.

Information about some inadequacies in asset inventory in recent times, Ms. Tran Dieu An, Deputy Director of the Department of Public Asset Management, said that in fact, it is quite common that agencies, organizations and units do not determine or do not determine the correct value of land use rights of workplaces and public service facilities to monitor on accounting books and report to TSC Management Software in accordance with the provisions of Decree No. 151 /2017/ND-CP. Accordingly, the value of land use rights is determined by the allocated land area multiplied by the land price in the land price list multiplied by the land price adjustment coefficient issued by the Provincial People's Committee; At the same time, adjusting land prices in some cases such as the first year of the period when the Provincial People's Committee issued and announced the land price list when the land area changed, etc. Besides, there are cases of acceptance and using the office and business operations for many years but not keeping track of the accounting books, etc.

To solve this problem, Resolution No. 39-NQ/TW of the Politburo directed the Party Committee, the Government, ministries and local branches to conduct a full inventory and assessment of the resources of the economy according to the correct viewpoint: a complete and substantive inventory and assessment of the economy's resources is an important basis for building a socio-economic development strategy to 2030, with a vision to 2045 and mid-term and long-term development plans for each period. Simultaneously, Resolution No. 74/2022/QH15 dated November 15, 2022 of the National Assembly assigned the Government and Prime Minister to direct ministries, branches and localities to carry out tasks in 2025 to complete the inventory.

According to Decision No. 213/QD-TTg of the Prime Minister on the Project for general inventory of assets at agencies, organizations, units and infrastructure assets invested and managed by the State, on the general plan inventory, for ministries, branches, and local People's Committees, ministers and leaders of the Provincial People's Committee must establish an inventory steering committee, complete before April 30, 2024; Develop and promulgate inventory plans based on the content and detailed plans issued by the Ministry of Finance; Organize training and inventory guidance for subjects conducting inventory; Summarize the results of asset inventory and send it to the Ministry of Finance before June 15, 2025. For subjects conducting inventory: establish an inventory team and conduct an inventory of assets directly/temporarily managed by them; Responsible for inventory data; Report inventory results to superior management agencies before April 15, 2025.

Inventory for 18 types of infrastructure assets

According to the Department of Public Asset Management, the scope of infrastructure assets invested and managed by the State is wide, however, due to time limitations in conducting a general inventory (according to Resolution No. 74/2022/QH15, it must be completed before 2025), therefore, the Ministry of Finance has submitted to the Prime Minister for permission to only carry out inventory for 18 types of infrastructure assets that have been relatively clearly identified such as: Transportation infrastructure assets: railway, road, aviation, inland waterway, maritime; clean water supply infrastructure assets; irrigation infrastructure assets; commercial infrastructure assets that are markets; infrastructure assets of industrial clusters and industrial parks; economic zone infrastructure assets; high-tech zone infrastructure assets, etc. Based on the inventory results for these types of infrastructure assets and practical experience in conducting the inventory, ministries, branches and localities are responsible for organizing inventory of remaining assets.

Sharing information about the TSC inventory work in Hanoi, Mr. Mai Cong Quyen, Deputy Director of the Hanoi Department of Finance, said that in fact, in recent times, departments and agencies in the City have followed Project "Effective management, use and exploitation of assets of Hanoi city in the period 2023-2025, orientation for the period 2026-2030". This is also an advantage for Hanoi when implementing inventory work. However, with practical implementation experience, the Deputy Director of the Hanoi Department of Finance pointed out certain problems, especially in inventorying 18 types of infrastructure assets because there are several asset groups that have not been regulated by a specific document. According to the guidance of the Ministry of Finance, Hanoi City will both do and make adjustments to ensure correct and complete inventory and to have "clean" and "live" data to carry out the general inventory of assets of Hanoi capital in particular and the country in general.

By Hoai Anh/ Phuong Linh

Related News

Vietnam is ready to welcome a new wave of investment in the semiconductor industry

Vietnam is ready to welcome a new wave of investment in the semiconductor industry

VCN - Deputy Minister of Planning and Investment Tran Duy Dong (Photo) gave an interview to Customs Magazine about Vietnam's preparations to attract FDI into the semiconductor industry.
Completely resolve problems and accelerate public investment disbursement

Completely resolve problems and accelerate public investment disbursement

VCN - In the first 4 months of 2024, the disbursement of public investment capital reached 17.46% of the plan assigned by the Prime Minister, higher than 15.65% in the same period last year. However, to further speed up this work, the Ministry of Finance believed that it needed to urgently overcome problems that have existed for a long time, especially in key projects.
Fiscal policy is expanded and flexible to promote economic growth 2024

Fiscal policy is expanded and flexible to promote economic growth 2024

VCN - Recently, the Ministry of Finance has proactively researched, proposed, and submitted to competent authorities as well as issued financial support policies for the economy, with a total of about VND700 trillion. This is a particularly important resource that contributes to promoting the economic recovery process after the pandemic. According to experts, in 2024, flexible and prudent fiscal policy will continue to be the foundation for the economy.
State budget revenue estimated at VND733.4 trillion

State budget revenue estimated at VND733.4 trillion

VCN - In the first four months of 2024, total state budget revenue is estimated at VND733.4 trillion, equal to 43.1% of the estimate and up 10.1% year-on-year.

Latest News

Hundreds of tons of imported raw cashew nuts stuck in quarantine

Hundreds of tons of imported raw cashew nuts stuck in quarantine

VCN – A company is facing problems with plant quarantine regulations when carrying out procedures to import over 384 tons of "raw cashew nuts, originating from Tanzania" from a bonded warehouse in Dong Nai.
Extend deadline for paying Special Consumption Tax on domestically produced and assembled cars

Extend deadline for paying Special Consumption Tax on domestically produced and assembled cars

VCN – The Government has issued Decree 65/2024/ND-CP dated June 17,2024 extending the deadline for paying Special Consumption Tax on domestically produced and assembled cars. The Decree takes effect from the date of signing until December 31, 2024.
Extend the deadline for paying taxes and land rent in 2024

Extend the deadline for paying taxes and land rent in 2024

VCN - The Government has just issued Decree No. 64/2024/ND-CP dated June 17, 2024 extending the deadline for paying value added tax (VAT), corporate income tax (CIT), personal income tax (PIT) and land rent in 2024. This Decree takes effect from June 17, 2024 to December 31, 2024. After the extension period according to this Decree, the deadline for paying taxes and land rent will comply with current regulations.
Tax payment deadline for domestic cars extended

Tax payment deadline for domestic cars extended

The Government has decided to extend the deadline for special consumption tax payment for domestically manufactured or assembled automobiles.

More News

13 cases must register for tax at Tax office

13 cases must register for tax at Tax office

VCN - The Ministry of Finance is collecting comments on a draft Circular guiding tax registration to replace Circular 105/2020/TT-BTC. According to the draft, in case the National Population Database proactively transmits information to the Tax Database when issuing personal identification numbers, the Tax agency will immediately update the personal identification number into the Tax registration system to use as a tax code for individuals without requiring individuals to carry out tax registration procedures with the Tax authority.
Considering to impose 5% of VAT on fertilizers

Considering to impose 5% of VAT on fertilizers

VCN - Under the draft amended Law on Value-Added Tax (VAT), fertilizers are expected to be included in the category of goods subject to VAT at a rate of 5% to address the difficulties faced by domestic production enterprises and ensure that this item can compete effectively with imported products of the same type.
Fixing VAT rates with fertilizers brings dual benefits to "3 houses"

Fixing VAT rates with fertilizers brings dual benefits to "3 houses"

VCN - According to representatives of various businesses, the current regulations regarding value-added tax (VAT) rates on fertilizers have created significant challenges for these businesses. The proposed amendments to the VAT Law for fertilizers, if implemented, have the potential to alleviate many of these difficulties, providing enterprises with better opportunities to capture market share and foster a more equitable market environment.
Regulations on bad debt trading, settlement revised

Regulations on bad debt trading, settlement revised

The State Bank of Vietnam (SBV) has issued Circular 03/2024/TT-NHNN on bad debt trading and settlement of the Vietnam Asset Management Company (VAMC) to make the work more effective.
Policy on business registration to be revised

Policy on business registration to be revised

The revised decree (No. 01/2021/NĐ-CP) aims to streamline lots of processes, creating maximum favourable conditions for enterprises, respecting the autonomy of enterprises and protecting the legitimate rights and interests of the company.
Proposal to extend the special consumption tax payment deadline for domestically produced and assembled cars

Proposal to extend the special consumption tax payment deadline for domestically produced and assembled cars

VCN - According to calculations by the Ministry of Finance, the total amount of special consumption tax (SCT) on domestically produced and assembled cars, if extended, is about VND 8,560 billion. However, the latest tax payment deadline is November 20, 2024, it does not affect the state budget revenue estimate for 2024.
Proposal to reduce the collection rates of 36 fees and charges in 2024

Proposal to reduce the collection rates of 36 fees and charges in 2024

VCN - According to the draft circular regulating the collection rates of some fees and charges in 2024, the Ministry of Finance is consulting with ministries, branches, People's Committees of provinces and cities, and the drafting agency proposes to reduce the collection rates from 10- 50% of 36 fees and charges.
Removing problems on settlement reports and archive for export processing enterprises

Removing problems on settlement reports and archive for export processing enterprises

VCN - During the customs clearance process, issues such as management of raw materials, supplies or settlement reports are always of concern to export manufacturing and production and export processing enterprises. Hanoi Customs Department has answered many questions about customs procedures for export processing enterprises.
Clear policies needed for addressing violations of new generation tobacco products

Clear policies needed for addressing violations of new generation tobacco products

VCN - Although the authorities have rigorously inspected and handled violations related to new generation tobacco products, to improve management efficiency, it is urgent to develop clear policies for managing these products.
Read More

Your care

Latest Most read
Hundreds of tons of imported raw cashew nuts stuck in quarantine

Hundreds of tons of imported raw cashew nuts stuck in quarantine

VCN – A company is facing problems with plant quarantine regulations when carrying out procedures to import over 384 tons of "raw cashew nuts, originating from Tanzania" from a bonded warehouse in Dong Nai.
Extend deadline for paying Special Consumption Tax on domestically produced and assembled cars

Extend deadline for paying Special Consumption Tax on domestically produced and assembled cars

VCN - The Decree stipulates that the payment deadline for the Special Consumption Tax for the Tax terms of May, June, July, August and September in 2024 for domestically produced and assembled cars.
Extend the deadline for paying taxes and land rent in 2024

Extend the deadline for paying taxes and land rent in 2024

VCN - For corporate income tax, extend the tax payment deadline for the temporarily paid corporate income tax amount of the second quarter of the 2024 corporate income tax period of enterprises and organizations subject to the extension.
Tax payment deadline for domestic cars extended

Tax payment deadline for domestic cars extended

The Government has decided to extend the deadline for special consumption tax payment for domestically manufactured or assembled automobiles.
13 cases must register for tax at Tax office

13 cases must register for tax at Tax office

VCN - The Ministry of Finance is collecting comments on a draft Circular guiding tax registration to replace Circular 105/2020/TT-BTC. According to the draft, in case the National Population Database proactively transmits information to the Tax Database w
Mobile Version