Thông tư 45/2003/TT-BTC

Circular No. 45/2003/TT-BTC of May 15, 2003, guiding the settlement of investment capital.

Circular No. 45/2003/TT-BTC of May 15, 2003, guiding the settlement of investment capital. đã được thay thế bởi Circular No. 33/2007/TT-BTC of April 09, 2007, guiding the settlement of completed projects funded with state capital. và được áp dụng kể từ ngày 31/05/2007.

Nội dung toàn văn Circular No. 45/2003/TT-BTC of May 15, 2003, guiding the settlement of investment capital.


THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 45/2003/TT-BTC

Hanoi, May 15, 2003

 

CIRCULAR

GUIDING THE SETTLEMENT OF INVESTMENT CAPITAL

Pursuant to the Investment and Construction Management Regulation issued together with the Government’s Decree No. 52/1999/ND-CP of July 8, 1999 and Decree No. 12/2000/ND-CP of May 5, 2000; Decree No. 07/2003/ND-CP of January 30, 2003 amending and supplementing a number of articles of the Investment and Construction Management Regulation issued together with the Government’s Decree No. 52/1999/ND-CP of July 8, 1999 and Decree No. 12/2000/ND-CP of May 5, 2000;
Pursuant to the Government’s Decree No. 86/2002/ND-CP of November 5, 2002 defining the functions, tasks, powers and organizational structures of the ministries and ministerial-level agencies;
The Finance Ministry hereby guides the investment capital settlement as follows:

Part I

GENERAL PROVISIONS

1. All investment projects financed with State budget capital, State-guaranteed credit capital and/or development investment credit capital of the State, after being completed and put into exploitation and use, must be subject to investment capital settlement under the provisions of this Circular.

2. "The investment capital to be settled" means the entire lawful expenditures implemented in the investment process in order to put the projects into exploitation and use. Lawful expenditures means those implemented in strict accordance with the approved design-cost estimate dossiers, in strict compliance with criteria, norms, unit prices, financial-accounting regimes, signed economic contracts and relevant regulations of the State. The to be- settled investment capital must lie within the limits of the total investment amounts approved or adjusted (if so) by competent authorities.

3. The investment capital settlement reports must fully and accurately determine the total implemented investment expenditures; clearly define sources of investment capital; investment expenditures allowed not to be calculated into the value of assets formulated through project investment; the value of assets formed through investment: fixed assets, working assets; and at the same time must ensure the contents, time schedule, verification and approval as provided for.

4. For Group A projects comprising many component projects or mini-projects, in which if each component project or mini-project can independently operate for exploitation or is implemented according to investment phases inscribed in the documents approving the pre-feasibility study reports or the documents deciding on the investment undertakings of the competent authorities, each of those component projects or mini-projects shall have its investment capital settled like an independent investment project corresponding to the provisions on project classification (A, B, C) of the Investment and Construction Management Regulation suitable to each investment period.

Annually, investors and their superior managing agencies (tasked to jointly manage the projects, if any) shall have to sum up the entire situation of project implementation as well as the situation of settlement of investment capital of projects and report them to the Ministry of Finance and the Ministry of Planning and Investment.

Upon the completion of the entire projects, the investors and their superior managing agencies (mentioned above) shall have to settle the general expenses related to the projects and submit them to the managing ministries for approval and sum-up into the results of settlement of the investment capital of the entire projects for report thereon to the Prime Minister, the Ministry of Finance and the Ministry of Planning and Investment.

5. For projects having many construction items each of which or groups of which, when completed, can be put into independent exploitation and use, the investors shall have to make reports on settlement of investment capital according to construction items and submit them to competent persons for approval. The value proposed for settlement of a construction item includes: the construction and installation expenses, the equipment expense and other expenses directly related to such item. After the completion of the entire projects, the investors must make the general settlement of the entire projects and determine the levels of distribution of general expenses of the projects to each construction item under such projects and submit them to the persons competent to approve the settlement for approval.

6. For investment projects using foreign capital (State-guaranteed capital, loan capital, aid capital from foreign governments, organizations and individuals), after being completed, the settlement of their investment capital must be made under the provisions of this Circular and the relevant provisions of the international treaties (if any).

7. For projects of foreign-based Vietnamese representations, projects requiring security and defense confidentiality, projects on purchase of copyright ownership, the settlement of investment capital of completed projects shall comply with the Prime Minister’s separate decisions on the basis of proposals and recommendations of the project-owning agencies.

8. The investment capital settlement aims to evaluate the results of the investment process, determine the production capacity and the value of assets newly increased through investment; to clearly define the responsibility of investors, contractors, capital suppliers, capital lenders, settlement controllers, and concerned State management agencies; and at the same time to draw experiences so as to constantly better the State’s mechanism and policies, raise the efficiency of the management of investment capital nationwide.

Part II

SPECIFIC PROVISIONS

I. CONTENTS OF SETTLEMENT REPORTS

1. Sources of investment capital for project implementation, calculated up to the date of book closure for making settlement reports (detailed by investment capital source).

2. Investment expenses proposed for settlement:

Detailed by construction and installation structure, equipment, other expenses; detailed by item, sub-item of investment expense.

3. Determination of investment damage expenditures not calculated into the value of assets formed through investment:

- Expenditures on investment damage due to natural disasters, enemy sabotage and force majeure reasons not falling within the insured scope and objects.

- Expenditures on investment damage due to the performance of volumes of work which must be cancelled under decisions of competent authorities.

4. Determination of the quantity and value of assets formed through investment in projects, works or construction items (hereinafter referred collectively to as projects); detailed by group, type of fixed assets, working assets according to actual expenditures. For projects with the investment implementation duration of over 36 months counting from the date of construction commencement to the date of pre-acceptance test, hand-over and putting of the projects into exploitation and use, the investment capital must be converted to the price level at the time of hand-over and putting of the projects into exploitation and use.

- The distribution of other expenses to each fixed asset shall be determined according to the principle: Expenses directly related to any fixed assets shall be calculated for such fixed assets; the common expenses related to many fixed assets shall be distributed according to direct expense percentage of each fixed asset in comparison with the total direct expense of the entire fixed assets.

- Where assets are brought about by investment and handed over to many units for use, the full list and value of fixed assets, working assets of the projects, handed over to each unit must be determined.

II. FORMS OF SETTLEMENT REPORT

1. For completed projects:

Forms No.01, 02, 03, 04, 05, 06, 07, 08/QTDA.

2. For completed construction items:

Forms No. 01, 02, 03, 04, 05, 06/QTDA.

3. For completed planning projects; settlement of expenses for investment preparation of the projects cancelled by decisions of competent authorities:
Forms No.07, 08, 09/QTDA.

4. The settlement reports shall be addressed to:

- The settlement- verifying and -approving agencies;

- The immediate superiors of investors (if any);

- The capital-supplying, -lending,-paying agencies.

III. DOSSIERS SUBMITTED FOR SETTLEMENT APPROVAL (INCLUDING 01 SET ADDRESSED TO THE SETTLEMENT-VERIFYING AND -APPROVING AGENCY)

1. For completed projects, works, construction items:

1.1. The investor’s written request for approval of the settlement (the original).

1.2. The investment capital settlement report as provided for at Sections I and II, Part II of this Circular (the original).

1.3. The relevant legal documents according to Form No.02/QTDA (originals or copies).

1.4. Economic contracts, the records on contract liquidation between the investor and the contractors, units and individuals that have participated in the project implementation (originals or copies).

1.5. Records on phased pre-acceptance tests, record on the general pre-acceptance test and hand-over of completed projects for putting into use (originals or copies).

1.6. All the written settlements of A-B volume, the pre-acceptance test of completed construction and installation volume of all bidding packages in the project (original).

1.7. Report on results of auditing the investment capital settlement of the independent auditing organization (if any, the original); enclosed with the investor’s document on auditing results: agreed contents, disagreed contents, proposals.

In the course of verification, the investors shall have to produce to the verification agencies documents in service of the verification of the settlement of investment capital of the project: The dossiers on construction completion, construction diary, bidding dossiers, designing cost estimate, additional cost estimate (if any) and the relevant payment dossiers and vouchers.

2. For planning projects; settlement of expenses for investment preparation of projects cancelled by decisions of competent authorities:

2.1. The investor’s written request for approval of the settlement (the original).

2.2. The investment capital settlement report as provided for in Sections I and II, Part II of this Circular (the original).

2.3. The collection of relevant legal documents (originals or copies).

2.4. Economic contracts between the investor and contractors; the records on pre-acceptance tests and contract liquidation (originals or copies).

In the process of verification, the investors shall have to produce other documents related to the settlement of the investment capital of the projects when so requested by the agencies verifying the settlement.

IV. COMPETENCE TO APPROVE SETTLEMENT, THE SETTLEMENT-VERIFYING AGENCIES

1. The Finance Minister shall approve the settlement of investment capital of the projects with investment therein decided by the Prime Minister and Group A projects financed with the State budget capital.

2. For the remaining projects, the persons competent to decide on the investment therein shall also approve the settlement of investment capital of the projects.

3. Agencies verifying investment capital settlement:

3.1. For projects with investment therein decided by the Prime Minister and Group A projects financed with the State budget capital: The Ministry of Finance shall be the agency assuming the prime responsibility for organizing the settlement verification.

3.2. For remaining projects:

- Centrally-managed projects: The persons competent to approve the investment capital settlement shall decide on which of their attached functional bodies to organize the verification.

- Locally-managed projects (provinces, centrally-run cities): The provincial/municipal Finance-Pricing Services shall assume the prime responsibility for organizing the verification.

- Projects managed by urban districts, rural districts, provincial towns: The finance sections shall assume the prime responsibility for organizing the verification.

In case of necessity, the persons competent to approve the settlement shall decide to set up advisory teams to conduct verification before the investment capital settlement is approved. Such a advisory team is composed of members of relevant agencies performing the State management over investment and construction.

V. VERIFICATION AND APPROVAL OF SETTLEMENT

1. Forms of organizing the verification:

1.1. After making reports on settlement of investment capital of the projects according to the contents and forms prescribed in Sections I and II above, the investors shall submit documents to the authorities competent to approve the settlement together with the reports on settlement of investment capital of the completed projects.

1.2. Depending on specific conditions on the sizes of projects and the attached professional verifying apparatus, the persons competent to approve the settlement may decide on either of the following two forms of settlement verification:

Form 1: The persons competent to approve the settlement shall employ the professional agencies under their management, which are fully capable, to directly verify the settlement, or decide to set up verification advisory teams before approving the investment capital settlement.

Form 2: Hiring independent auditing organizations which lawfully operate in Vietnam to audit the reports on settlement of the investment capital of the completed projects.

When permitted by competent persons to audit the reports on settlement of investment capital of the projects, the investors shall select independent auditing organizations for the implementation thereof. The selection of auditing organizations shall comply with the Bidding Regulation.

1.3. On the basis of the reports on the results of auditing the reports on settlement of investment capital of the completed projects, the agencies (units) assuming the prime responsibility for verification of the settlement shall conduct the examination according to the following contents:

- To examine whether the auditing order and contents ensure the prescribed requirements or not. In case of necessity, to propose the persons competent to approve the settlement to request the independent auditing agencies to make additional auditing or organize the additional verification themselves (if the auditing results fail to meet the prescribed requirements).

- To examine the legal grounds used by the auditing organizations to audit as compared to the State’s regulations on investment and construction management such as the mechanism for management, payment of investment capital, construction criteria, norms and standards, the norm-unit price system...

- To examine and scrutinize contents on which the investors and the independent auditing organizations still hold divergent opinions.

1.4. Based on the auditing results and the verification results, the agencies (units) assuming the prime responsibility for verification of settlement shall have to make reports on the results of verification of the settlement of investment capital of projects for submission to the competent persons for approval. The contents of the reports on the results of verification of the settlement of investment capital of projects are prescribed at Point 2 below.

1.5. Particularly for the reports on settlement of projects with investment therein decided by the Prime Minister and Group A projects financed with the State budget capital: Ministers, heads of ministerial-level agencies, heads of agencies attached to the Government, presidents of the provincial/municipal People’s Committees, chairmen of the Managing Boards of the State corporations shall organize the examination according to the contents prescribed at Point 2 below in order to determine the data on investment capital settlement and send them to the Ministry of Finance together with the written request for approval of the settlement. If detecting errors, to request the investors to finalize the dossiers before sending documents to request the Ministry of Finance to verify and approve the settlement.

2. Contents of verification (examination, auditing) and contents of reports on the results of verification (examination, auditing) of the investment capital settlement:

Agencies (units) assuming the prime responsibility for verification, examination of the settlement mentioned above and independent auditing organizations shall have to conduct the verification (examination, auditing) and make reports on the results of verification (examination, auditing) of the settlement of investment capital of the completed projects according to the following order and specific contents:

2.1. For completed projects, constructions, construction items:

2.1.1. Verification of legal dossiers:

- Verification of the observance of the construction and investment order and procedures according to the Investment and Construction Management Regulation from the stage of investment preparation to the stage of investment completion and putting of projects into production and use.

- Verification of the observance of the Bidding Regulation for the projects.

- Verification of the legality of economic contracts signed between the investor and contractors (consultancy, construction and installation, provision of supplies and equipment) for project implementation.

2.1.2. Verification of the sources of investment capital of the projects:

- Comparing the capital amounts already allocated, lent or paid as reported by the investors with the amounts certified by the concerned agencies allocating, lending or paying the capital; comparing them with the capital sources according to the source structure determined in the investment decisions of the competent authorities.

- Verifying the compatibility in the use of investment capital sources with the structure determined in the investment decisions of the competent authorities.

2.1.3. Verification of investment expenses:

2.1.3.1. For projects implemented by mode of bidding for package contracts and turn-key contracts (EPC):

Comparing the value proposed for settlement with the value and terms stated in the contracts, the record on contract liquidation, the dossiers on construction completion, with the approved bid-wining prices and relevant documents.

Verification of the arising value (if any): To clearly determine the cause of increase or decrease, compare it with the documents approved by competent authorities, the application of relevant policies and regimes to the payment of arising investment expenses.

2.1.3.2. For projects implemented by mode of bidding for contracts with price adjustment:

Verification of investment expenses proposed for settlement: To compare the settlement volume with the bidding dossiers of the bidding packages, the approved bid-winning prices and terms stated in the contracts, the contract liquidation record, the dossiers of construction completion and relevant documents.

Verification of arising value (if any): To clearly determine the cause of increases or decrease, compare it with the approved documents of the competent authorities, the application of the relevant prescribed policies and regimes to the payment of arising investment expenses.

2.1.3.3. For projects implemented by mode of designation of contractors:

Verification of the investment expenses proposed for settlement (detailed for each contract): To compare them with the approved estimates, terms stated in the contracts, the pre-acceptance test record, the contract liquidation record, the dossiers on construction completion and relevant documents.

Verification of the arising value (if any): To clearly determine the cause of increase or decrease, compare it with the approved documents of the competent authorities, the application of relevant prescribed policies and regimes to the payment of arising investment expenses.

2.1.3.4. Verification of other expenses:

Detailed verification of each type, each item, each expense amount against the approved estimates, the prescribed regimes, criteria and norms:

- Verification of expenses for consultancy on contract performance;

- Verification of expenses made directly by investors;

- Verification of expenses for the project-managing unit.

2.1.4. Verification of investment damage expenditures not calculated into the asset value:

- Expenditures on investment damage due to natural calamities, enemy sabotage or other force majeure causes beyond the insurance scope.

- Investment expenses for work volumes cancelled under decisions of the competent authorities.

2.1.5. Verification of the determination of the quantity and value of assets formed through investment: To verify the quantity and value of assets, detailed by groups, types of fixed assets and working assets; the cost price (unit price) of each group (type) of asset according to actual expenses and the converted prices at the time of hand over of assets for putting into production, use.

2.1.6. Verification of outstanding debts, unused supplies and equipment:

- Debts receivable, payable: Based on the results of verification of the settled investment expenses, the situation of payment to contractors by investors to verify the outstanding debts of the projects.

- Verification of the volume, value of unused supplies and equipment: Based on the actual reception and use of supplies and equipment of the projects to determine the volume and value of supplies and equipment left unused, and propose the handling plans.

- Verification of the volume and value of assets invested for the operation of the project-management unit: Based on the records on inventory and evaluation of assets used for operation of the project-management units up to the date of making the settlement reports, to determine the volume and value of the remaining assets for hand-over to the units for use or disposal according to regulations.

2.1.7. Remarks, proposals:

- Remarks on the observance of the State’s regulations on investment and construction management.

- Remarks on the management of investment expenditures, investment assets of the projects by investors.

- Remarks on the responsibilities of each level for the management of project investment capital.

- Proposals on the value of investment capital settlement.

- Proposals on handling of relevant matters.

2.2. For planning projects and expenses for investment preparation of the projects cancelled under decisions of competent authorities:

- Verification of the legal dossiers of the projects.

- Verification of the implemented capital sources.

- Verification of implemented investment expenditures detailed by group and item, each arising expense against the approved estimates; the prescribed regimes, criteria and norms.

- Verification of debts owed by the projects.

- Verification of the quantity and value of assets formed through investment (if any).

3. Approval of settlement:

- Based on the reports on the results of verification according to the above-mentioned contents, the persons competent to approve the settlement shall consider and approve the settlement of investment capital of the competed projects according to regulations.

- The decisions on approval of the settlement of investment capital of the completed projects shall be addressed to the following agencies, units:

+ The investor;

+ The superior managing agency of the investor;

+ The agencies allocating, lending or paying capital;

+ The finance agency of the same level managing the investor;

+ Other concerned agencies.

VI. EXPENSES FOR VERIFICATION AND APPROVAL OF SETTLEMENT, AUDITING EXPENSES

1. Levels of expenses for verification and approval of settlement, auditing expenses:

1.1. On the basis of the total investment and characteristics of the projects, the expenses for verification and approval of settlement and the expenses for auditing the settlement of investment capital of the completed projects shall be calculated in percentage (%) of the total investment of the projects, the maximum deduction levels according to the provisions in the following Table (the minimum level is VND 300,000):

TABLE OF EXPENSES FOR VERIFICATION AND APPROVAL OF SETTLEMENT, EXPENSES FOR AUDITING SETTLEMENT OF INVESTMENT CAPITAL OF COMPLETED PROJECTS

Calculation unit: %

The total investment (Billion dong)

≤ 0.5

1

10

25

50

100

500

1,000

5,000

10,000

≥ 20,000

Verification-approval expense

0.2

0.12

0.09

0.08

0.07

0.06

0.031

0.02

0.01

0.006

0.004

Auditing expense

0.25

0.15

0.135

0.096

0.084

0.072

0.04

0.024

0.015

0.008

0.005

1.2. For projects with investment therein decided by the Prime Minister and Group A projects financed with State budget capital: The ministries, ministerial-level agencies, agencies attached to the Government, professional agencies under the provincial/municipal People’s Committees and State corporations shall enjoy funding for carrying out the work of organizing the examination and verification of the investment capital settlement data before proposing the Finance Ministry to verify and approve the settlement with the maximum level equal to 50% of the verification and approval expenses prescribed in the above Table.

1.3. In cases where the projects are entitled to hire independent auditing organizations to audit the settlement reports, the agencies (units) assuming the prime responsibility to verify the settlement may spend on the work of verification and approval a maximum amount equal to 50% of the verification and approval expenses prescribed in the above Table.

1.4. In cases where consideration is required to determine the deduction level for auditing expenses and settlement-verifying and-approving expenses, the following general formula shall apply:

Ki

=

Kb

-

(Kb - Ka) x (Gi - Gb)

Ga - Gb

+ Ki is the spending norm corresponding to the project scale to be calculated (calculation unit is %).

+ Ka is the spending norm corresponding to the immediate preceeding project scale (calculation unit is %).

+ Kb is the spending norm corresponding to the immediate succeeding project scale (calculation unit is %).

+ Gi is the project’s total investment amount to be calculated, unit: VND billion.

+ Ga is the total investment amount of the immediate preceeding project, unit: VND billion.

+ Gb is the total investment amount of the immediate succeeding project, unit: VND billion.

1.5. In cases where a project has the equipment capital structure accounting for 51% or more of the total investment amount, the level of auditing expenses and settlement-verifying and -approving expenses shall be equal to 70% of the corresponding deduction level prescribed in the above Table.

1.6. For cases of settling completed construction items, the deduction levels for settlement- auditing, -verifying and -approving expenses shall be calculated according to the following formula:

Expense for the construction item

=

Expense for the entire project

x

Estimate for the construction item

x

85%

The total investment of the project

1.7. In case of necessity, the persons competent to approve the settlement may decide to hire consultants for re-examination of the reports on the results of verification of the settlement of investment capital of projects and the expenses paid to the organizations or individuals performing such re-examination shall not exceed 10% of the deduction level for the verification- approval expenses prescribed above.

2. Management and use of settlement- verifying and – approving expenditures:

2.1. Basing themselves on the prescribed spending regimes, criteria and norms and the proposals of the key verifying agencies, the investors shall pay for the work of verifying and approving the settlement of investment capital according to the following contents:

- Payment of allowances to participants in verifying and/or approving the investment capital settlement.

- Payment to specialists or organizations that provide consultancy on verification of the settlement of investment capital of projects at the requests of the agencies assuming the prime responsibility to verify and approve the investment capital settlement (if any).

- Payment for working trips, stationery, translation, printing, conferences, seminars and other expenses in service of the settlement verification and approval.

3. The settlement-verifying and -approving expenses and the expenses for auditing the reports on settlement of investment capital can be calculated into other expenses in the settlement value of projects.

VII. TIME LIMITS FOR SETTLEMENT OF INVESTMENT CAPITAL

1. For important national projects and Group-A projects financed with State budget capital: The time limit for making settlement reports shall not exceed 12 months for important national projects and 09 months for Group A projects financed with State budget capital, counting from the date of general pre-acceptance tests and hand-over of projects for putting to use. The auditing time limit shall not exceed 6 months counting from the dates the auditing contracts take effect. The examination time limit shall not exceed 3 months. The time limit for verifying and approving the investment capital settlement shall not exceed 4 months counting from the date the agencies assuming the prime responsibility for examination and verification fully receive the dossiers submitted for approval of the investment capital settlement under the provisions of this Circular.

2. For other Group A projects: The time limit for making settlement reports shall not exceed 9 months counting from the date of general pre-acceptance test and hand-over of the projects. The auditing time limit shall not exceed 6 months as from the dates the auditing contracts take effect. The time limit for verifying and approving the investment capital settlement shall not exceed 3 months counting from the date the agencies assuming the prime responsibility for verification fully receive the dossiers submitted for approval of the investment capital settlement under the provisions of this Circular.

3. For projects with the total investment level of under VND one billion and independent construction items: The time limit for making settlement reports shall not exceed 3 months counting from the date of pre-acceptance tests and hand-over of the projects. The time limit for auditing (if any) of investment capital settlement shall not exceed 2 months counting from the dates the auditing contracts take effect. The time limit for verifying and approving the investment capital settlement shall not exceed 2 months counting from the date the agencies assuming the prime responsibility for verification fully receive the dossiers submitted for approval of the investment capital settlement according to the provisions of this Circular.

4. For the remaining projects: The time limit for making settlement reports shall not exceed 6 months counting from the date of pre-acceptance test and hand-over of projects for putting into use. The time limit for auditing (if any) of the investment capital settlement shall not exceed 4 months counting from the dates the auditing contracts take effect. The time limit for verifying and approving the investment capital settlement shall not exceed 4 months counting from the date the agencies assuming the prime responsibility for verification fully receive the dossiers submitted for approval of the investment capital settlement under the provisions of this Circular.

VIII. RESPONSIBILITIES OF INVESTORS AND THE CONCERNED AGENCIES

1. Responsibilities of investors:

- To make investment capital settlement reports with full contents and within the time limits prescribed in this Circular.

- To submit for approval and manage the investment capital settlement dossiers strictly according to regulations. To be accountable for the accuracy of the data and the legality of the materials in the dossiers submitted for approval of investment capital settlement.

- To fully supply documents related to the investment capital settlement at the requests of the verifying (examining, auditing) agencies.

- To select the auditing units, to sign and organize the performance of contracts for auditing the investment capital settlement reports according to regulations.

- To have the responsibility to pay compensation for material damage if causing wastage or losses of investment capital of the projects.

- To join the contractors, individuals and/or units that provide services for the projects in definitely handling existing problems in the process of settling the investment capital.

- To fully recover the investment capital paid to individuals and units in contravention of the prescribed regimes.

2. Responsibilities of contracting units (consultancy, construction and installation, equipment supply, individuals and/or units providing services for the projects):

- To settle the implemented value of the contracts signed with investors according to regulations.

- To join investors in definitely handling existing problems under the signed contracts. To finalize the settlement dossiers falling under the scope of their implementation responsibility and be accountable for the accuracy of the data and the legality of the relevant materials provided to the investors for making the investment capital settlement reports as stipulated.

- To fully and timely reimburse the investment capital amounts paid in contravention of regulations by investors.

3. Responsibilities of the agencies which provide capital, lend capital or pay investment capital:

- To manage the 5% funding awaiting the settlement and organize the payment according to the provisions of the Government’s Decree No.07/2003/ND-CP of January 30, 2003.

- To examine, compare and certify the investment capital already provided, lent and paid to projects, and at the same time to give remarks, evaluation and proposals to the agencies which verify and approve the investment capital settlement on the investment process of the projects, made according to Form 08/QTDA.

- To coordinate with the investors in recovering the capital amounts already paid to individuals and units in contravention of the prescribed regimes.

4. Responsibilities of independent auditing organizations:

- To audit the reports on settlement of the investment capital or projects within the required scope; to ensure the objectivity, honesty, accuracy; to ensure the order, contents, quality and expense levels prescribed in this Circular.

- To take responsibility before law, before customers and users for the results of their auditing of settlement reports.

In cases where the auditing agencies breach the State’s regulations on auditing of investment capital settlement reports, the persons competent to approve the settlement may decide to recover part or whole of the auditing expenses already paid to the auditing units by the investors, depending on the seriousness of their violations.

5. Responsibilities of agencies which verify and approve the investment capital settlement:

- To guide, examine and urge the investors in performing the work of investment capital settlement in time and with full contents according to set forms.

- To guide the investors in settling problems arising in the course of investment capital settlement.

- To organize the verification of reports on investment capital settlement according to the prescribed contents and requirements.

- To be answerable to law for the results of direct verification.

- To guide, urge and create legal conditions for investors to recover the capital amounts they have paid to contractors in excess of the approved investment capital.

6. Responsibilities of the ministers, heads of branches, localities and superior agencies of the investors:

- To guide, examine, urge investors and agencies under their respective management in performing the work of investment capital settlement (elaboration, submission for approval, verification, approval of investment capital settlement) according to the provisions of this Circular.

- To organize inspection as provided for, to be accountable for data of the settlement proposed for verification and approval by the Finance Ministry with regard to projects with investment therein decided by the Prime Minister and Group A projects financed with State budget capital.

- To arrange adequate capital for payment to projects in the year when the decisions approving the investment capital settlement are issued.

- To urge and create legal conditions for investors to recover the investment capital amounts already paid in contravention of the prescribed regimes to contractors, individuals and/or units providing services for the projects.

7. Responsibilities of finance agencies at all levels:

To guide, urge and inspect agencies and units under their respective management in performing the work of settlement of investment capital of completed projects according to regulations. In case of detecting errors in the work of verifying and approving the settlement, to be entitled to request the approvers of the settlement make proper adjustment, and at the same time to handle, or propose the handling of, violations according to law provisions.

IX. REPORTING AND INSPECTION REGIME

1. Reporting regime:

1.1. For centrally-managed projects:

- The investors have the responsibility to make biannual and annual reports on the situation of settlement of the investment capital of the completed projects falling within their management scope and send them to their superior agencies and the agencies assuming the prime responsibility for verification according to Form 02/THQT, on July 10 at the latest for the biannual reports and January 15 of the following year at the latest for the annual reports.

- The agencies assuming the prime responsibility for verification of the settlement shall have to make biannual and annual reports on the situation of settlement of investment capital of completed projects falling within their respective management scope, according to Form 01/THQT and send them to the superior managing agencies no later than July 20 for the biannual reports and January 31 of the following year for the annual reports.

- The ministries, ministerial-level agencies, agencies attached to the Government and Corporations 91 shall have to make biannual and annual sum-up reports on the situation of settlement of investment capital of completed projects under their respective management according to Form 01/THQT and send them to the Finance Ministry no later than July 31, for the biannual reports and February 15 of the following year, for the annual reports.

1.2. For locally-managed projects:

- The investors and project-management units shall have to make biannual and annual reports on the situation of settlement of investment capital of the completed projects under their respective management and send them to the superior agencies of the investors and the agencies assuming the prime responsibility for verification of settlement according to Form 02/THQT no later than July 10, for the biannual reports and January 15 of the following year, for the annual reports.

- The district-level finance sections shall have to make biannual and annual reports on the situation of settlement of investment capital of the completed projects under their respective management according to Form 01/THQT, and send them to the provincial/municipal Finance Services no later than July 20, for the biannual reports and January 31 of the following year, for the annual reports.

- The provincial/municipal Finance Services shall have to make biannual and annual sum-up reports on the situation of settlement of investment capital of the completed projects under the local management according to Form 01/THQT and send them to the Finance Ministry no later than July 31, for the biannual reports and February 15 of the following year, for the annual reports.

1.3. The Finance Ministry shall have to make biannual and annual sum-up reports on the situation of settlement of investment capital of completed projects nationwide according to Form 01/THQT, and send them to the Government no later than August 31, for the biannual reports, and February 28 of the following year, for the annual reports.

2. Inspection and handling of violations:

The superior management agencies and the investment and construction State management agencies shall regularly inspect the situation of performing the work of investment capital settlement according to the provisions of this Circular so as to promptly redress and handle violations. Organizations and individuals failing to comply with the regulations on investment capital settlement and causing wastage and loss of capital and assets of the State shall have to make compensations therefor and be administratively handled or prosecuted according to law provisions.

Part III

IMPLEMENTATION PROVISIONS

This Circular takes effect 15 days after its publication in the Official Gazette and replaces the Finance Ministry’s Circular No.70/2000/TT-BTC of July 17, 2000 guiding the settlement of investment capital.

The State encourages the elaboration, verification and approval of investment capital settlement under the provisions of this Circular for projects not governed by this Circular.

 

 

FOR THE FINANCE MINISTER
VICE MINISTER




Nguyen Cong Nghiep

 

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Thuộc tính Văn bản pháp luật 45/2003/TT-BTC

Loại văn bảnThông tư
Số hiệu45/2003/TT-BTC
Cơ quan ban hành
Người ký
Ngày ban hành15/05/2003
Ngày hiệu lực25/06/2003
Ngày công báo...
Số công báo
Lĩnh vựcĐầu tư, Kế toán - Kiểm toán
Tình trạng hiệu lựcHết hiệu lực 31/05/2007
Cập nhật4 năm trước
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Lược đồ Circular No. 45/2003/TT-BTC of May 15, 2003, guiding the settlement of investment capital.


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          Circular No. 45/2003/TT-BTC of May 15, 2003, guiding the settlement of investment capital.
          Loại văn bảnThông tư
          Số hiệu45/2003/TT-BTC
          Cơ quan ban hànhBộ Tài chính
          Người kýNguyễn Công Nghiệp
          Ngày ban hành15/05/2003
          Ngày hiệu lực25/06/2003
          Ngày công báo...
          Số công báo
          Lĩnh vựcĐầu tư, Kế toán - Kiểm toán
          Tình trạng hiệu lựcHết hiệu lực 31/05/2007
          Cập nhật4 năm trước

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                    Văn bản gốc Circular No. 45/2003/TT-BTC of May 15, 2003, guiding the settlement of investment capital.

                    Lịch sử hiệu lực Circular No. 45/2003/TT-BTC of May 15, 2003, guiding the settlement of investment capital.