VCN- At the press conference, with the theme "Results of the key tasks and administrative reform of the Vietnam State Treasury (VNST) in 2017", on 21st December 2017, Mr. Nguyen Manh Cuong, Director of Office of VNST said that the State Treasury identified that the focus of the administrative reform, towards reducing cost and saving time and material for society are people and units using State budget.
|In 2017, the control of recurrent expenditures accounts for 91.3% of the year’s estimate|
|State Treasury implements over 300 specialized inspections|
|Unify a focal point for management of state expenditures: 99,89% documents processed in a timely fashion|
|Customers transact at the State Treasury of Da Nang. Photo: Internet|
5 minutes for a State revenue collection
In 2017, the State Treasury has effectively deployed the model of Single Window with one teller and the scheme on unified focal point of State budget expenditure control via the State Treasury; simplified administrative procedures, especially procedures of collection and payment in the field of the State Treasury, and continuously speeding up the non-cash payment via the State Treasury. Thereby, creating more favorable conditions for the transaction units and improving the quality of service and customer satisfaction.
The effective implementation of reform and modernization projects has contributed to quick and sufficient collection of State revenues, and met expenditure demands of the State budget promptly; facilitated tax payers and minimized time and procedures for payment (the time for a State revenue collection was reduced to about 5 minutes compared to the 30 minutes in previous time).
The expenditure control and investment expenditure has shortened time (reducing from 7 working days to 3 working days), simplified requirements for payment applications and reduced the number of payment documents.
Especially, after more than two months of nationwide implementation (from 2nd October 2017), the scheme on unified focal point of State budget expenditure control has achieved positive results. The number of dossiers and documents which had been handled in a timely fashion accounted for 99.89%, and 1,288 administrative teams at the district State Treasury have been dissolved.
For the revenue collection, Mr. Cuong said that as of 15th December, total State Budget revenue reached VND 1,222,567 billion. Of which, the balanced State budget revenue reached VND 1,099,586 billion (including 865,755 billion from domestic sources, VND 184,650 billion from export-import activities, VND 43,555 billion from crude oil and VND 5,625 billion from international aid), accounting for 90.71 per cent of the yearly estimate.
In 2017, the State Treasury continuously expanded its receivable accounts at five State-owned commercial banks (Vietcombank, Vietinbank, BIDV, Agribank and MBBan) and promoted budget collection via the banks’ point of sale system (POS).
Regarding the State budget expenditure control, according to Mr. Cuong, in 2017, the State Treasury system strictly controlled the recurrent expenditures and ensured the expenditures in accordance with the estimate and approved by competent levels under the law. It did not pay recurrent expenditures which were assigned the estimate for units using budget at the beginning of the year. But as of 30th June 2017, these expenditures had not been allocated or had been allocated but had not been used for implementation of projects; strictly controlled dossiers of the units’ automobile purchases in compliance with the regulations on norms and regime of management and use of automobiles in the State agencies and non-business public units.
With these solutions, the state budget expenditure control via the State Treasury in 2017 has achieved positive results. Specifically, for recurrent expenditures, as of 15th December 2017, the State Treasure system controlled expenditures of VND 746,504 billion, equaling 82% of the yearly estimate. Thanks to the expenditure control, State Treasury units discovered and requested supplement payment dossiers of 15,354, which were not eligible, with refusals to pay VND 42.7 billion.
Regarding expenditures for basic construction investment, as of 15th December 2017, the State Treasury controlled expenditures of VND 245,125.2 billion, equal to 72.1% of the year plan. In which, expenditure allocated from the Government fund reached VND 221,733.9 billion, equal to 72% of the plan, and from other funds reached VND 3,391.3 billion equal to 72.9% of the plan.
Capital mobilization reached 94.5% of the plan
According to the State Treasury report, in 2017, based on the macroeconomic situation and the financial and monetary market as well as market movements, the State Treasury actively advised and reported to the Ministry of Finance to deploy solutions to mobilize capital for the State budget and development investment.
The State Treasury has developed annual and quarterly plan and schedule; promptly and fully announced information so that investors can actively allocate capital to participate in the market.
Managing the interest rate of issuance of government bonds in accordance with the market situation and monetary policy of the State Bank of Vietnam to ensure the stabilization of the general interest rate.
As of 15th December 2017, the total volume of mobilized government bonds was VND 159,920.7 billion, equaling 94.5% of the adjusted plan (VND 169,266 billion).
|Unify a focal point for management of state expenditures: 99,89% documents processed in a timely fashion |
VCN – According to Mr. Nguyen Hong Ha, Director General of State Treasury, the implementation of the ...
For accounting and payment, the State Treasury units in the entire system strictly abide by the regulations on State budget accounting regime and professional activities of the State Treasury. Bilateral electronic payment systems, centralized e-payment and inter-bank electronic payments are upgraded in line with information standards between the Treasury and Bank, meeting new management requirements. Data comparison and day-end closing with commercial banks are implemented in accordance with provisions and completely implemented every day.
For ensuring security and safety of currency and asset of the State assigned to the State Treasury, in 2017, the State Treasury system continuously strengthened discipline and rules in compliance with policies. Implementing regulations well on coordination between the State Treasury at all levels with police agencies in the area in implementing measures to ensure absolute security and safety of currency and assets in the State Treasury. Therefore, in 2017, the entire State Treasury system detected and seized 158 counterfeit currencies and repaid 3,509 overpaid amounts by customers with total amount of over VND 6.4 billion.
By Huong Giang/Ngoc Loan