Thông tư 70/2000/TT-BTC

Circular No. 70/2000/TT-BTC of July 17, 2000 guiding the investment capital settlement

Circular No. 70/2000/TT-BTC of July 17, 2000 guiding the investment capital settlement đã được thay thế bởi Circular No. 45/2003/TT-BTC of May 15, 2003, guiding the settlement of investment capital. và được áp dụng kể từ ngày 25/06/2003.

Nội dung toàn văn Circular No. 70/2000/TT-BTC of July 17, 2000 guiding the investment capital settlement


THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 70/2000/TT-BTC

Hanoi, July 17, 2000

CIRCULAR

GUIDING THE INVESTMENT CAPITAL SETTLEMENT

Pursuant to the State Budget Law of March 20, 1996;
Pursuant to the May 20, 1998 Law Amending and Supplementing a Number of Articles of the State Budget Law;
Pursuant to the Governments Decree No.52/1999/ND-CP of July 8, 1999 promulgating the Investment and Construction Management Regulation;
Pursuant to the Governments Decree No.12/2000/ND-CP of May 5, 2000 amending and supplementing a number of articles of the Investment and Construction Management Regulation issued together with the Governments Decree No.52/1999/ND-CP of July 8, 1999;
The Finance Ministry hereby guides the investment capital settlement as follows:

Part I

GENERAL PROVISIONS

1. All investment projects of the State agencies and State enterprises, after being completed and put into exploitation and use, shall be subject to the investment capital settlement. Investors shall have to elaborate and settle all the investment capital of the completed projects with the competent bodies.

2. Investment projects funded with the State budget capital, the State-guaranteed credit capital, the States development investment credit capital or the capital mobilized by State enterprises for development investment must have their investment capital settlements examined and approved by the competent bodies.

3. The "to-be settled investment capital" is the total lawful expenses made in the course of investment in order to put the project into exploitation and use. The lawful expenses are the expenses made in strict compliance with the signed contract(s) and the ratified cost estimate designs, ensuring the conformity with the set criteria, norms, unit prices, financial and accounting regime as well as the relevant current regulations of the State. The to-be settled investment capital shall not exceed the total investment already approved or adjusted (if any) by the competent authorities.

4. The investment capital settlement must fully and accurately determine the total investment capital already disbursed; clearly classify investment capital sources; investment capital which has been converted into fixed assets, current assets or expenses which are not converted into the projects assets. Through the investment capital settlement, to determine the amount, production capacity and value of the newly-accrued fixed assets brought about by investment, thereby working out the plan for timely mobilization and use as well as efficiency promotion of the completed investment projects. All this shall serve as basis for determination of responsibilities of the investors, their superiors and the State agencies in charge of investment and construction, in the process of managing and using investment capital.

5. For group-A projects that include component projects or mini-projects, if each component project or mini-project can independently operate for exploitation and be implemented according to investment phases inscribed in the written approval of the pre-feasibility study reports, each component project or mini-project may settle its investment capital like an independent investment project.

6. For a project comprising many project items and each item (or project item group), when completed, operates independently for exploitation and use, the authority competent to approve the settlement may, if deeming it necessary, allow the settlement of project items (or project item group) that includes expenses for construction and installation, equipment and other expenses directly related to the above-mentioned project items (or project item group). After the completion of the whole project, the investor shall have to make the general settlement thereof and distribute other expenses to each project item according to regulations.

7. The investment capital settlement must be complete and in accordance with the prescribed contents, ensuring time for elaboration, examination and approval stipulated in this Circular.

8. Though the investment capital settlement, the investment process results shall be assessed and experiences shall be drawn with a view to enhancing the investment and construction management work.

Part II

SPECIFIC PROVISIONS

I. CONTENTS OF THE INVESTMENT CAPITAL SETTLEMENT REPORTS

1. Reports on the annual investment capital disbursement:

1.1. For investors:

a/ Annually, at the end of the plan year, investors shall have to draw up reports on the yearly investment capital disbursement and send them to the capital- settling agencies, the capital-lending agencies as well as the investment-deciding agencies. Such a report includes the following contents:

* The situation on investment execution in the plan year:

- The value of the volume executed in the year and the value accrued from the start of project construction;

- The amounts of capital settled and borrowed in the year and capital accrued from the start of project construction;

- The value of the completed volume eligible for capital settlement but not yet settled.

* The investment capital sources.

* The project or project item(s) that has been completed and put into production and use in the year.

b/ In the annual investment capital disbursement reports, investors shall have to analyze and assess the implementation of the investment plan and results in the year, the existing problems, and propose the handling measures.

1.2. For the investors superior authorities:

a/ Basing themselves on the investors annual investment capital disbursement reports, the provincial/municipal Peoples Committees, ministries or branches shall direct their functional agencies to make sum-up reports on the annual investment capital disbursement by their respective units and send them to the Finance Ministry and the General Department of Statistics, according to the following contents:

* The situation on investment execution in the plan year:

- The value of the volume already executed in the year and the value accrued from the start of project construction.

- The amounts of capital settled and borrowed in the year and capital accrued from the start of project construction.

- The value of the completed volume eligible for capital settlement but not yet settled.

* The investment capital sources.

* The project or project item(s) that has been completed and put into production and use in the year.

b/ The annual sum-up reports on investment capital disbursement of the ministries, branches and localities must analyze and assess the situation of investment plan implementation and investment results in the year, the existing problems, and propose the handling measures.

1.3. Basing themselves on the annual investment capital disbursement reports of the ministries, branches and localities, the Finance Ministry and the General Department of Statistics shall make a sum-up report and submit it to the Government.

2. Investment capital settlement reports:

2.1. For completed projects (mini-projects, component projects or project items defined at Points 5 and 6, Part I of this Circular), the investors shall have to elaborate and send the investment capital settlement reports to the capital-settling agencies, the capital-lending agencies and the investment capital settlement-examining and -approving agencies. The report on investment capital settlement of a completed project must clearly indicate the following contents:

a/ The total investment capital for project implementation:

- The total investment capital for project implementation from the stage of investment preparation to the construction completion and putting of the project into production and use.

- Capital sources: State budget capital, State-guaranteed credit capital, States development investment credit capital, capital mobilized by State enterprises for development investment and other capital sources.

- The capital structure: Capital for construction and installation, equipment and other expenses.

b/ Expenses not accounted into the project assets value :

- Damage caused by natural calamities, enemy sabotage and other force majeure circumstances, which are not insured.

- The value of the volume cancelled by decision of the competent authority.

c/ The value of assets handed over for production and use:

- The value of fixed assets and current assets created by investment is the total investment expenses for a project minus the expenses which are not accounted into the project assets value, and are converted at the market price at the time of handing over the project for production and use. The method of converting investment capital at the market price at the time of project hand-over shall comply with the Construction Ministrys guidance.

- The fixed assets shall be classified and valued according to the following principle: All expenses related directly to a fixed asset shall be calculated for such asset; the common expenses related to various assets shall be distributed according to the ratio between the direct expense level of each fixed asset and the total direct expenses for all fixed assets.

- Where the assets are handed over to different units for use, the list and value of the projects fixed assets and current assets already handed over to each unit must be fully determined.

2.2. For completed planning projects: Investors shall make the planning capital settlement reports, which must reflect the sources of capital already received and used according to the cost estimates ratified by the competent authorities and be enclosed with the expositions on the project implementation results.

2.3. For investment preparation expenses in case a project is cancelled or the investment execution is transferred to another unit under decision of the competent authority, the investor shall have to make investment preparation capital settlement report like for a completed planning project.

2.4. For investment projects using foreign capital, when they are completed, in addition to the settlement reports to be elaborated, examined and approved according to the provisions of this Circular, the investors shall also have to draw up a separate investment capital settlement report at the request of international organizations inscribed in the loan agreement(s) (if any).

II. INVESTMENT CAPITAL SETTLEMENT DOSSIERS

1. An investment capital settlement dossier for a completed project includes:

1.1. The settlement reports made according to set forms:

- The list of relevant legal documents: reflecting the legal basis for the whole project, from the investment ratification, investment preparation, project implementation preparation, project implementation till the project completion.

- The sum-up report on the completed investment capital settlement: reflecting the general project investment situation and results as well as the existing problems and solutions proposed by the investor.

- The report on investment execution through the years: reflecting the situation on the use of investment capital from the time of investment preparation till the project completion and putting of the project into exploitation and use.

- The report on the investment capital disbursement according to the completed works: reflecting the disbursement of investment capital for each work in case the project is composed of 2 or more works.

- The report on the amount and value of the newly-accrued fixed assets: reflecting the amount and value of each of the newly-accrued fixed assets according to the conversion prices and classified according to the use subjects.

- The report on the amount and value of the handed-over current assets: reflecting the amount and value of assets according to the conversion prices of each type of raw material, material, fuel, accessory and labor tool, which are not qualified for being fixed assets, and other expenses belonging to the current assets handed over to the using units.

- The debt situation: reflecting loans and debts (recoverable and payable) which have not been settled by the time of investment capital settlement, and proposing handling measures.

- The sheet of comparison and certification of investment capital settlement figures by the capital- settling and -lending agency. Where a projects capital is settled and lent by different agencies, the comparison and certification by each agency is required.

- The exposition on the investment capital settlement reports: reflecting the projects major changes; difficulties and advantages in the project implementation process, and proposing handling measures.

1.2. The written request for approval of the completed projects investment capital settlement: For group A-projects, it must be signed by the investors superior authority and sent to the Finance Ministry; for the other projects, it must be signed by the investor and sent to the competent authority for approval (the original).

1.3. The relevant legal documents (originals or copies).

1.4. The minutes (originals or copies) on the pre-acceptance test of each stage or the general pre-acceptance test for hand-over and putting of the completed project into use, or the minutes on project pre-acceptance test and hand-over between the investor and contractor (original or copy).

1.5. The minutes (originals, if any) on asset hand-over between the investor and using units.

1.6. The A-B volume settlements (originals) of all bidding packages in the project.

1.7. The economic contracts (originals or copies) between the investor and contractors; units and individuals involved in the project implementation.

1.8. The bidding dossier; bids of the bid winners; approval of the bidding dossier; approval of the bid-winning results; and documents (originals or copies) supplemented in the course of bidding and execution of bidding packages.

1.9. The project completion dossier, the construction diary (originals or copies).

1.10. The report (original, if any) on the investment capital settlement auditing results of an independent auditing organization.

Besides, in the course of examining the investment capital settlement, when deeming it necessary, the settlement-examining agency may request the investor to supply additional documents related to the projects investment capital settlement.

2. Dossier of settlement of planning projects investment capital and investment preparation expenses:

2.1. The settlement reports made according to the set forms:

- The sum-up report on the settlement of the completed investment capital.

- The report on investment execution through the years.

- The debt situation report.

- The sheet of comparison and certification of investment capital settlement figures by the capital-settling and -lending agency. Where a projects capital is settled and lent by different agencies, the comparison and certification by each agency is required.

2.2. The investors written proposal (original) for approval of the investment capital settlement sent to the competent authority.

2.3. The economic contract, the minutes on the pre-acceptance check and hand-over of dossiers and documents, the decision on ratification of the planning project and the decision on cancellation of the investment project (for the settlement of investment preparation expenses) (originals or copies), issued by the competent authorities.

Besides, in the course of examining the investment capital settlement, when deeming it necessary, the settlement-examining agency may request the investor to supply additional documents related to the projects investment capital settlement.

3. Requirements on the settlement dossier:

- An investment capital settlement dossier must be complete and strictly comply with the forms set for each type of project defined at Points 1 and 2, Section II, Part II of this Circular. All figures in the reports must be clear while the proposals must be concrete, brief and easy to understand.

- A dossier of investment capital settlement report must contain all signatures of the chief accountant; the head of the project management board (for projects with management boards); the projects executive manager (for projects run by executive managers) and the investor.

4. Places where settlement dossiers are received and kept:

4.1. For group A projects:

The settlement dossier of a group A project shall be made in four sets of equal value and kept by the investor, the investors superior, the agency assuming the prime responsibility for examination and the national archives.

Besides, the investor shall have to send the settlement report made in the set form to the investment capital-settling and -lending agencies.

4.2. For group B and C projects:

The settlement dossier of a group B or C project shall be made in 3 sets of equal value and kept by the investor, the examining and approving agency and the archive agency (if any).

Besides, the investor shall have to send the settlement reports made in the set form to the investment capital- settling and -lending agencies.

III. EXAMINATION OF THE INVESTMENT CAPITAL SETTLEMENT

1. Contents of examination of the investment capital settlement:

a/ For projects implemented by the mode of bidder appointment:

a.1. Examining the legality of the project:

- Examining, comparing lists and contents of legal documents of the project, ensuring their conformity with the States current regulations.

- Examining the legality of the economic contracts (on consultancy, construction and installation, material and equipment supply), which are concluded between the investor and contractors.

a.2. Examining the investment capital amount disbursed annually:

- Examining every source of capital annually invested in the implementation of the project, against the capital source structure already defined in the investment decision and according to the annual investment plan.

- Analyzing, comparing the structure of the disbursed investment capital (for construction and installation, equipment and other expenses) with the investment capital structure inscribed in the investment decision and the ratified total cost estimates.

a.3. Examining the value of the completed construction and installation volume:

- Examining the value of the projects construction and installation volume proposed for the settlement against the value of the ratified cost estimates, and determining the cause of rise or fall.

- Examining the application of the States norms and unit prices to the construction and installation work in each period.

a.4. Examining the value of the completed equipment volume:

- Examining the equipments compatibility with the list, type, quantity, technical criteria and prices stated in the investment decision and economic contracts.

- Examining the purchasing, processing and manufacturing prices of equipment.

- Examining the equipment-related expenses: transportation, preservation and storage expenses.

a.5. Examining other expenses by comparing the capital amount proposed for the settlement of each type of actual expense with the ratified cost estimates and the current policies and regimes on the management of other expenses in investment and construction.

a.6. Examining the value of damage not accounted into the assets value:

- The value of damage caused by natural calamities, enemy sabotage and other force majeure circumstances, which are not insured.

- The value of the project volume cancelled by decision of the investment-deciding authority.

a.7. Examining the evaluation of assets handed over for exploitation and use by different units:

Examining the determination of the actual value of the annual investment and the value already converted according to the price level at the time of handing over the assets, including the newly-accrued fixed assets and current assets, for exploitation and use.

a.8. Examining the situation of debts, materials and equipment in stock:

- The debts to be recovered and repaid.

- The value of materials and equipment in stock.

- The value of assets of the project management board.

b/ For projects and work volume executed by the bidding mode:

- Examining the settlement reports according to the contents stipulated at Items a.1, a.2, a.5, a.6, a.7 and a.8, Point a, Clause 1, Section III, Part II of this Circular.

- Examining the construction and installation as well as equipment volume and value proposed for the settlement, compared with the bid-winning prices and the bids cost estimates.

- Examining the construction and installation as well as equipment volume and value arising outside bidding packages and determining the cause of rise or fall.

c/ For planning projects and investment preparation expenses:

- Examining the projects legal dossiers;

- Examining the investment capital amount disbursed annually;

- Examining other expenses by comparing the capital amount proposed for the settlement of each type of expense with the ratified cost estimates and the current policies and regimes on the management of other expenses in investment and construction;

- Examining the debt situation of the project.

After examining the investment capital settlement reports, the examining agency shall have to send a report thereon to the agency competent to approve the settlement.

2. Investment capital settlement -examining agencies:

Before approving the investment capital settlement, the agency (unit) assuming the prime responsibility for examination shall examine the investment capital settlement reports; the division of responsibility for examination of the investment capital settlement shall be defined as follows:

2.1. For group A projects:

The Finance Ministry shall assume the prime responsibility for organizing the examination of investment capital settlements of the States group A projects. In case of necessity, the Finance Ministry may set up a consultancy team to conduct the examination before approving the settlements. The consultancy team is set up by decision of the Finance Minister and composed of representatives of the Finance Ministry, the Ministry of Planning and Investment, the Ministry of Construction, the branch-managing ministries, the relevant ministries and the Peoples Committees of the provinces and centrally-run cities (for the locally-run projects).

2.2. For the other projects:

- For the centrally-run projects, the units charged with function and task to examine the investment capital settlements under the authorities competent to approve them, shall assume the prime responsibility in organizing the examination.

- For the locally-run projects (of the provinces and centrally-run cities), the provincial/municipal Finance-Pricing Services shall assume the prime responsibility for organizing the examination.

In case of necessity, the authorities competent to approve the investment capital settlements shall decide to set up the consultancy teams to examine the settlements before approving them. Such a consultancy team shall consist of representatives of the units functioning to manage the project-related investment and construction.

3. Forms of organizing the examination of investment capital settlement reports:

The persons competent to approve the investment capital settlements shall decide forms of examining them. The agencies competent to approve the settlements shall have to make written decisions to assign the task of examining the investment capital settlements to the functional agencies (units).

- Where the agency competent to approve a settlement decides to hire an independent auditing organization to audit the investment capital settlement report, the investor shall sign an auditing contract with the independent auditing organization that lawfully operates in Vietnam for auditing the investment capital settlement reports according to the contents and charge level permitted by the agency competent to approve the settlement. The independent auditing organization shall take responsibility before law for the contents and results of auditing the settlement reports.

The agency (unit) assuming the prime responsibility for examining the settlement shall inspect the results of auditing the investment capital settlement reports of the independent auditing organization according to the following contents:

- Inspecting the settlement-auditing results compatibility with the auditing contract and the prescribed contents of the investment capital settlement examination;

- Examining legal bases for investment and construction management promulgated by the competent State management agencies, which have been used by the auditing organization such as the mechanism of management and payment of investment capital, the construction standards, regulations and rules as well as the system of norms and unit prices;

- Re-examining the discrepancies between the settlement-auditing report of the independent auditing organization and the investors settlement report;

- Considering the proposals which remain divergent between the investor and the independent auditing organization.

IV. COMPETENCE TO APPROVE THE INVESTMENT CAPITAL SETTLEMENT

1. Competence to approve the investment capital settlement:

a/ The investment capital settlements of the States group-A projects shall be approved by the Finance Minister under the Prime Ministers authorization;

b/ For the other projects, the persons competent to decide the investment shall also be the persons to approve the investment capital settlements. Particularly for projects with investment decided by the directors of the provincial/municipal Planning and Investment Services under authorization of the presidents of the Peoples Committees of the provinces and centrally-run cities, the presidents of such provincial/municipal Peoples Committees may also authorize the directors of the provincial/municipal Finance-Pricing Services to approve the investment capital settlements of the completed projects.

2. Agencies receiving written approvals of the investment capital settlements:

2.1. For group A projects:

- The Prime Minister;

- The Finance Ministry;

- The investors superior authority;

- The branch-managing ministry;

- The investment capital -settling and -lending agency(ies);

- The concerned agencies (if any).

2.2. For the other projects:

* For the centrally-run projects:

- The investment-deciding agency;

- The Finance Ministry;

- The investment capital-lending and -settling agency(ies).

* For the locally-run projects:

- The Peoples Committee of the province or centrally-run city;

- The provincial/municipal Finance-Pricing Service;

- The investment capital- lending and -settling agency(ies).

V. EXPENSES FOR EXAMINATION AND APPROVAL OF THE INVESTMENT CAPITAL SETTLEMENT

The expenses for examination and approval of the investment capital settlement shall be accounted into other expenses in the projects ratified cost estimates and managed by the agency assuming the prime responsibility for examining the settlement.

1. Deduction rates and levels of expense for examination and approval of the investment capital settlement:

1.1. On the basis of the total investment and characteristics of each project, the expense for examination and approval of the investment capital settlement shall be calculated in percentage (%) of the total investment as follows:

DEDUCTION RATES OF EXPENSE FOR EXAMINATION AND APPROVAL OF INVESTMENT CAPITAL SETTLEMENTS

The total investment (billion VND)

0.1

 0.5

> 0.5

 5.0

> 5

 10

> 10

 100

> 100

 500

> 500

 1,000

> 1,000

 5,000

> 5,000

Deduction rate (%)

0.10

0.09

0.08

0.05

0.04

0.02

0.01

Absolute deduction level (million VND)

0.5

≥ 0.5

≥ 5

≥ 10

≥ 80

≥ 250

≥ 400

≥ 1,000

1.2. For a group A project composed of different component (or mini) projects, the expense deduction level for examination and approval of the settlement of a completed component (or mini) project shall be calculated according to the following formula:

The deduction level for a component (mini) project

=

The deduction level for the whole project

X

The total investment of the component (mini) project

﴿  x 80%

The total investment of the project

1.3. For a project with equipment capital proportion accounting for 51% or more of the total investment, the expense deduction level for the settlement examination and approval shall be equal to 70% of the corresponding expense level or rate stipulated at Point 1.1, Clause 1, Section V, Part II of this Circular.

1.4. The investment capital settlement examination and approval expenditures shall be distributed to different jobs as follows:

- At most 10% for the approval of the investment capital settlement;

- At least 90% for the examination of the investment capital settlement; In case of hiring an independent auditing organization to audit the settlement reports, the expense paid to such independent auditing organization shall not exceed 75% of the total expense amount for the said examination and approval.

2. Management and use of settlement examination and approval expenditures:

2.1. On the basis of the approved expenditure level for examination and approval of the projects investment capital settlement in the total cost estimates, the investor shall make payment for the settlement examination and approval work in strict compliance with the prescribed regimes and the contents stipulated at Item 2.2, Clause 2, Section V, Part II of this Circular.

Where an independent auditing organization is hired to audit the settlement reports, the investor shall pay the auditing expense to the independent auditing organization according to the signed contract, which, however, must not exceed the level prescribed at Item 1.4, Clause 1, Section V, Part II of this Circular.

2.2. Contents of expense for examination and approval of the investment capital settlement of a completed project:

- Payment of remuneration to members of the consultancy team for the investment capital settlement examination.

- Payment to the independent auditing organization (if any) for the audit of settlement reports according to regulations.

- Payment to domestic and foreign organization(s) and individual(s) (if any) for the examination of settlement at the request of the agency (unit) that assumes the prime responsibility for examining and approving the investment capital settlement.

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

VI. TIME FOR ELABORATION, EXAMINATION AND APPROVAL OF INVESTMENT CAPITAL SETTLEMENT

1. For group A projects:

- The time for elaboration of the investment capital settlement report shall not exceed 6 months after the investment project is completed and put into exploitation and use.

- The time for examination of the investment capital settlement shall not exceed 6 months after the receipt of the complete and valid dossier of the investment capital settlement report as prescribed in Section II, Part II of this Circular.

- The time for approval of the investment capital settlement shall not exceed 1 month after the receipt of the report on the investment capital settlement examination results, which is submitted for approval by the agency (unit) assuming the prime responsibility for examination.

2. For the other projects:

- The time for elaboration of the investment capital settlement report shall not exceed 3 months after the investment project is completed and put into exploitation and use.

- The time for examination of the investment capital settlement report shall not exceed 2 months for group B projects and 1 month for group C projects after the receipt of the complete and valid dossier of investment capital settlement report prescribed in Section II, Part II of this Circular.

- The time for approval of the investment capital settlement shall not exceed 15 days after the receipt of the report on the investment capital settlement examination results, which is submitted for approval by the agency (unit) assuming the prime responsibility for examination.

VII. RESPONSIBILITY OF THE INVESTOR AND CONCERNED AGENCIES

1. The investor:

1.1. For reporting on the annual investment capital disbursement:

- On the basis of the project implementation situation, to make a report on the annual investment capital disbursement with full contents prescribed in the set form.

- To get certification from the capital-lending and -settling agency(ies).

- To send the annual investment capital disbursement report to the capital-settling and -lending agency(ies) as well as the investment-deciding agency at the time stipulated in this Circular.

1.2. For the investment capital settlement work:

- To coordinate with the contracting and consulting units in handling problems related to the received materials and equipment; the debt repayment and other problems arising outside the already signed contracts.

- To examine the settlement of the value of the completed volume according to contracts (on construction and installation, material and equipment supply and/or consultancy) between the investor and contracting units involved in the project implementation.

- To inventory and evaluate the remaining assets of the project management board in order to hand them over to units for production, use or liquidate them in order to recover capital, provided that such management board manages only one project. Where the project management board manages many projects, the inventory and evaluation shall be made only with the remaining value of assets related to the completed projects in order to hand them over to units for production and use.

- To close the accounting books, arrange and classify dossiers and documents in service of the investment capital settlement work.

- To compare and certify the amount of already settled capital or borrowed capital; to compare debts and assets already handed over to the concerned agencies.

- To compile and manage the investment capital settlement dossier with full contents prescribed in this Circular; and at the same time, to take responsibility for the accuracy of the figures and legality of documents attached to the investment capital settlement reports.

- To provide all documents related to the investment capital settlement at the request of the settlement-examining agency.

- To sign the contract for auditing the settlement reports with the lawful independent auditing organization after getting a written approval from the authority competent to approve the investment capital settlement.

- To fully recover the capital amount already paid to contractors in excess of the amount stated in the approved settlement.

2. The contracting units (for consultancy, construction and installation and equipment supply):

- To coordinate with the investor in definitely handling the remaining problems according to the signed contracts; to provide and take responsibility for accuracy of figures and legality of documents related to the elaboration of the investment capital settlement by the investor.

- To fully and promptly repay the investor the capital amount which has been paid by the latter in excess of the amount stated in the approved settlement.

3. The investment capital-lending and -settling agencies:

3.1. For reporting on the annual investment capital disbursement:

To inspect, compare and certify the capital amount already lent or settled in the year as well as the amount accrued from the time of project construction commencement to the reporting time.

3.2. For the investment capital settlement work:

- To examine, compare and certify the investment capital lent or settled for the projects within their assigned management responsibility.

- To comment on and appraise the projects investment process and make suggestions thereon to the agency (unit) that examines and approves the investment capital settlement according to the following contents: the observance of the capital construction order, the unit price norms as well as the States prescribed regimes and policies.

- To coordinate with the investor in recovering the capital amount already paid to contractors in excess of the amount stated in the approved settlement.

4. The independent auditing organization:

- To audit the investment capital settlement reports for the completed projects only when so permitted in writing by the authority competent to approve the settlement.

- To ensure the full contents prescribed for the audit of investment capital settlement reports for the completed projects, and enjoy remuneration therefor in strict compliance with the provisions of this Circular.

- To take responsibility for the contents and results of auditing the settlement reports. Where the agency competent to examine and approve the settlement or a law body detects that the settlement report-auditing results of the independent auditing organization vary with the examination results of the settlement-examining agency by 0.5% or more for a group A project, 0.8% or more for a group B project and 1.0% or more for a group C project, the concerned independent auditing organization shall take material responsibility for the damage caused by wrong auditing results. Serious cases shall be handled according to law provisions.

5. The investment capital settlement-examining and -approving agency:

- To guide, inspect and urge the investor to make the investment capital settlement completely, in strict accordance with the prescribed contents and according to the time defined in this Circular.

- To guide and direct the investor to handle problems arising in the investment capital settlement process.

- To organize the examination of investment capital settlement reports according to the contents, requirements and time prescribed in this Circular.

- To request the investor to supply documents related to the projects investment capital settlement.

- To be answerable for the results of the examination of investment capital settlement reports or contents of the re-examination results (for projects hiring independent auditing organizations to audit the investment capital settlement reports).

- To approve the investment capital settlement of the completed project according to its competence.

- To guide, urge and create legal conditions for the investor to recover the amount of capital already paid to contractors in excess of amount stated in the approved settlement.

6. Responsibility of the ministries, branches, localities and superior authorities of the investors for group A projects that fall under their management competence:

- For group A projects, when they are completed and put into use, the ministries, branches, localities or superior authorities of the investors shall have to urge and guide the investors to elaborate the settlement reports; examine the investment capital settlement report dossiers strictly according to regulations before signing and sending them to the Finance Ministry for examination and approval of the investment capital settlements.

- To nominate capable and qualified cadres to take part in the examination of the settlements when so requested.

VIII. REPORTING REGIME AND INSPECTION

1. Reporting regime:

a/ Reporting on the annual investment capital disbursement:

- Investors shall have to draw up reports on the annual investment capital disbursement and send them to the ministries, branches and Peoples Committees of the provinces and centrally-run cities within 15 days after the year end.

- The ministries, branches and Peoples Committees of the provinces and centrally-run cities shall have to make sum-up reports and send them to the Finance Ministry and the General Department of Statistics within 30 days after the year end.

b/ Reporting on the situation of examination and approval of the settlements of the completed investment projects:

- Quarterly reports: The ministries, branches and provincial/municipal Peoples Committees shall have to make sum-up reports on the situation of examination and approval of the investment capital settlements of the completed projects within their management responsibility and send them to the Finance Ministry in the first week of the first month of the subsequent quarter.

- Annual reports: The ministries, branches and provincial/municipal Peoples Committees shall have to make sum-up reports on the situation of examination and approval of the investment capital settlements of the completed projects within the management responsibility and send them to the Finance Ministry and the General Department of Statistics within 30 days after the year end so that the latter integrate them into a report to the Government.

2. Inspection and handling of violations:

The agencies exercising the State management over investment shall have to regularly inspect the situation of investment capital settlement so as to promptly remedy and handle violations.

Part III

IMPLEMENTATION PROVISIONS

This Circular takes effect as from August 1st, 2000 and replaces the earlier documents guiding the investment capital settlement. For projects which have been completed and put into use, for which investors have submitted the investment capital settlement reports to the agencies assuming the prime responsibility for investment capital settlement examination prior to July 31, 2000 (according to the official dispatches post marks of arrival), the Finance Ministrys Circular No.136/1999/TT-BTC of November 19, 1999 shall apply.

The State encourages non-State enterprises and economic organizations to make, examine and approve the investment capital settlements according to the provisions of this Circular.

Any problems or difficulties arising in the course of implementation should be promptly reported by the ministries, branches and localities to the Finance Ministry for study and settlement.

FOR THE FINANCE MINISTER
VICE MINISTER




Vu Van Ninh

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Loại văn bảnThông tư
Số hiệu70/2000/TT-BTC
Cơ quan ban hành
Người ký
Ngày ban hành17/07/2000
Ngày hiệu lực01/08/2000
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Lĩnh vựcĐầu tư, Tài chính nhà nước, Kế toán - Kiểm toán
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Lược đồ Circular No. 70/2000/TT-BTC of July 17, 2000 guiding the investment capital settlement


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            Circular No. 70/2000/TT-BTC of July 17, 2000 guiding the investment capital settlement
            Loại văn bảnThông tư
            Số hiệu70/2000/TT-BTC
            Cơ quan ban hànhBộ Tài chính
            Người kýVũ Văn Ninh
            Ngày ban hành17/07/2000
            Ngày hiệu lực01/08/2000
            Ngày công báo...
            Số công báo
            Lĩnh vựcĐầu tư, Tài chính nhà nước, Kế toán - Kiểm toán
            Tình trạng hiệu lựcHết hiệu lực 25/06/2003
            Cập nhật3 năm trước

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                Văn bản gốc Circular No. 70/2000/TT-BTC of July 17, 2000 guiding the investment capital settlement

                Lịch sử hiệu lực Circular No. 70/2000/TT-BTC of July 17, 2000 guiding the investment capital settlement