State Treasury of Vietnam: Gradually modernize budget management

VCN- Implementing the Strategy to develop the State Treasury system by 2020, the State Treasury is modernizing professional processes towards maximum convenience for customers.  
state treasury of vietnam gradually modernize budget management Collecting revenue between state treasury and commercial bank: Bring benefits to 3 parties
state treasury of vietnam gradually modernize budget management State Treasury’s online public service improved
state treasury of vietnam gradually modernize budget management Regulations on account management of State Treasury at commercial banks
state treasury of vietnam gradually modernize budget management
Professional activities at Dien Bien State Treasury. Photo Thuy Linh.

Improving policies and procedures

Overall assessment of the results on implementing the strategy of developing the State Treasury system by 2020, according to the State Treasury, on the mechanisms,policies and professional processes, the State Treasury system has completed the regulations related to functions and tasks of the State Treasury in the State Budget Law, the Accounting Law and the Public Debt Management Law, thereby creating a high, complete and synchronous legal basis for the reform and modernization of functions and tasks of the State Treasury on management of State budget fund, state budget management, capital mobilization and total state accounting.

In addition, the State Treasury also strengthened the organizational structure in the direction of focusing on managing, operating and streamlining the administrative apparatus. According to the State Treasury, this model has ensured the direction from high to low level of the State Treasury, the professional tasks are separated and clear, avoiding overlaps. At the same time, boosting the development of human resources, contributing to increasing the proportion of high-ranking andprofessional officials, gradually reducing the proportion of elementary-level officials.

For information technology modernization, the State Treasury has successfully implemented the treasury and budget management information system(TABMIS). The State Treasury has developed information technology systems that are concentrated, online and integrated with the TABMIS system; invested in infrastructure development, information technology and information technology staff. Since then, the State Treasury has made a breakthrough in information technology, effectively supporting the reform and modernization of the State Treasury system.

Modernizing revenue collection and spending

In the strategy of developing the State Treasury system until 2020, the key work is to manage state budget funds and state financial funds. With the drastic direction of the State Treasury leaders, it has tied the state budget fundmanagement with the state budgetmanagement and completing the report through the TABMIS system.

The State Treasury also manages a number of state financial funds which are assigned; accounting in the TABMIS system and collecting and spending, paying via centralized payment system of the State Treasury at the bank.

In particular, the policy of modernizing the management of state budget revenues through the State Treasury by the connection and exchange of electronic state budget collection data between the State Treasury - Tax / Customs - commercial bankshave achieved remarkable results with the expansion of collection accounts; application of electronic payment in the state budget revenue. According to taxpayers' assessment, this has created maximum benefits and limited payments by cash. At the same time, it helps to concentrate revenues of the state budget, saving collection costs.

According to the State Treasury, in reform of administrative procedures, it controlled the state budget spending commitment through the State Treasury, contributing to improving financial discipline and preventing debts in payment.

So far, the State Treasury has built and completed the mechanism and process of controlling state budget spending through the State Treasury in the direction of simplification, clearly defining responsibilities and powers of agencies and units; at the same time, changed from ‘control before payment’ to ‘payment before control’.

Initially building a level to implement risk control for recurrent expenditures; implementing the process of sending expenditure control records to the State Treasury through the public service information website of the State Treasury. The State Treasury has also developed and implemented a mechanism for sanctioning administrative violations in its sector.

In particular, the State Treasury system has built a database to collect and store information on budget estimates, compliance and settlement; perfecting targets and methods of determining the collection and expenditures of state budget revenues in accordance with practices, therebyinnovating thestatistics of revenue and expenditure of the state budget fund.

By Thuy Linh/KieuOanh

Related News

“3 priorities, 3 breakthroughs” in task deployment of State Treasury

“3 priorities, 3 breakthroughs” in task deployment of State Treasury

VCN - To complete the task from now until the end of 2024 and successfully implement the State Treasury Development Strategy as planned, Deputy Minister of Finance Bui Van Khang stated "3 priorities, 3 breakthroughs" " and 7 notes in task performance.
Plan of bidding VND400,000 billion of government bonds with term 2024

Plan of bidding VND400,000 billion of government bonds with term 2024

VCN - The State Treasury has just announced details plan of the 2024 government bond bidding by term.
The State Treasury implements nine key tasks in 2024

The State Treasury implements nine key tasks in 2024

VCN - The deployment of key tasks plan in 2024 (refer to the Plan) of State Treasury was issued to focus resources on completing tasks during the year and following the proposed strategies.
Ensure deadline for payment of public investment capital at State Treasury

Ensure deadline for payment of public investment capital at State Treasury

VCN - In a recent official dispatch on allocation and entry of estimates into the Treasury and Budget Management Information System (Tabmis) and disbursement of the 2024 public investment capital plan, the Ministry of Finance requested the State Treasury to serious follow the principle of “post-payment audit”.

Latest News

Central bank urges card issuers to review procedures

Central bank urges card issuers to review procedures

The State Bank of Vietnam (SBV) has issued a directive, demanding commercial banks to review their procedures in issuing and managing bank cards.
Warning about impersonating tax authorities to commit fraud during  tax finalization month

Warning about impersonating tax authorities to commit fraud during tax finalization month

VCN - The Tax industry has continuously provided information and issued warnings about impersonating tax officials and tax authorities to commit fraud against taxpayers, but there are still people who fall into the trap of these fraudsters, especially during the peak month of tax settlement.
Effectively apply M&A to go long distance

Effectively apply M&A to go long distance

VCN - With advantages such as being cheaper than domestic capital, and accompanied by many factors such as technology, skills, management, market... foreign capital is a popular trend among businesses. Domestic enterprises seek through M&A activities to ensure sustainable development for the future.
Hanoi State Treasury proactively digitizes and transforms operating methods

Hanoi State Treasury proactively digitizes and transforms operating methods

VCN - Hanoi State Treasury always proactively transforms and reforms its operating methods with the motto of “taking customers as the center” and taking the satisfaction of organizations and individuals as a measured level of task completion by civil servants.

More News

The Ministry of Finance continues to strongly improve the business environment, reducing the rate of businesses temporarily suspending operations

The Ministry of Finance continues to strongly improve the business environment, reducing the rate of businesses temporarily suspending operations

VCN - The Ministry of Finance aims to continue to strongly improve the business environment, create a healthy competitive environment, rapidly increase the number of newly established businesses, and reduce the rate of businesses temporarily suspending operations; reduce input costs and legal compliance costs in investment and business activities, reduce policy risks, strengthen trust, create a fulcrum for recovery and improve business resilience.
Vietnam tackles obstacles to stock market upgrade

Vietnam tackles obstacles to stock market upgrade

Vietnam's ambition to elevate its stock market from "frontier" to "emerging" status by 2025 faces two key hurdles, including pre-trade margin requirements for foreign investors and foreign ownership ratios in certain sectors, said Deputy Director of the Securities Market Development Department under the State Securities Commission (SSC) Pham Thi Thuy Linh.
Looking forward clear instructions in tax finalization in 2023

Looking forward clear instructions in tax finalization in 2023

VCN - Mr. Hoang Quang Phong (photo), Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) discussed supporting taxpayers in tax finalization in 2023.
Proactive in dealing with exchange rate pressure

Proactive in dealing with exchange rate pressure

VCN - Recently, the State of Bank (SBV) withdrew VND 30,000 billion through the T-bills channel, contributing to reducing exchange rate pressure. This is just one of the moves of the monetary policy management agency to stabilize the foreign exchange market, contributing to supporting the macro economy as well as import-export business activities of enterprises.
Tax sector accompanies and supports tax finalization

Tax sector accompanies and supports tax finalization

VCN - In the first months of 2024, the Tax sector has deployed peak months to support tax finalization in many different forms, thereby solving many problems in settlement of corporate income tax and personal income tax for taxpayers.
Minister of Finance: Fairness and transparency for the insurance market

Minister of Finance: Fairness and transparency for the insurance market

VCN - According to Minister of Finance Ho Duc Phoc, the Ministry has strengthened inspections to correct violations in the insurance sector, demonstrating fairness and transparency in the market.
Vietnamese securities companies race to boost capital amid high market demand

Vietnamese securities companies race to boost capital amid high market demand

These companies understand the importance of boosting their capital to remain competitive and avoid falling behind their peers.
Central bank required to take urgent measures to stabilise gold market

Central bank required to take urgent measures to stabilise gold market

The Government has directed the State Bank of Vietnam (SBV) to urgently inspect and supervise to stabilise the gold market.
Revenue from casino contributes about VND9,000 billion to the State budget

Revenue from casino contributes about VND9,000 billion to the State budget

VCN - The management of lottery and casino business activities is one of contents asked by National Assembly delegates to Minister of Finance at the question and answer session took place on the morning of March 18, within the framework of the 31st session of the National Assembly Standing Committee.
Read More

Your care

Latest Most read
Central bank urges card issuers to review procedures

Central bank urges card issuers to review procedures

The State Bank of Vietnam (SBV) has issued a directive, demanding commercial banks to review their procedures in issuing and managing bank cards.
Warning about impersonating tax authorities to commit fraud during  tax finalization month

Warning about impersonating tax authorities to commit fraud during tax finalization month

VCN - The Tax industry has continuously provided information and issued warnings about impersonating tax officials and tax authorities to commit fraud against taxpayers, but there are still people who fall into the trap of these fraudsters, especially dur
“3 priorities, 3 breakthroughs” in task deployment of State Treasury

“3 priorities, 3 breakthroughs” in task deployment of State Treasury

To successfully implement the State Treasury Development Strategy as planned, Deputy Minister of Finance Bui Van Khang stated "3 priorities, 3 breakthroughs" " and 7 notes in task performance.
Effectively apply M&A to go long distance

Effectively apply M&A to go long distance

VCN - Sharing at the conference "Consumer goods and distribution industry: M&A trends and investment strategies to raise capital for Vietnamese enterprises", organized by the Business Association of High Quality Vietnamese Goods and the Leading Business C
Hanoi State Treasury proactively digitizes and transforms operating methods

Hanoi State Treasury proactively digitizes and transforms operating methods

Hanoi State Treasury always proactively transforms and reforms its operating methods with the motto of “taking customers as the center” and taking the satisfaction of organizations and individuals as a measured level of task completion by civil servants.
Mobile Version