To manage revenue and expenditure sources from business ownership conversion

Published on 10 - 01 - 2022
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On 31/12/2021, the Government issued the Decree No. 148/2021/ND-CP on the management and use of the revenue from conversion of ownership of enterprises, public non-business units, and the revenue from transfer of State capital and the difference between equity capital, which is larger than the charter capital at the enterprise.

Accordingly, the revenues from conversion of ownership of enterprises, public non-business units, transfer of state capital, transfer of the rights to purchase shares, the rights to contribute capital and the difference in equity capital, which is greater than the charter capital at enterprises after deducting the expenses related to the conversion of ownership of enterprises, public non-business units, costs of capital transfer, transfer of the rights to buy shares and contribute capital, must be paid fully and timely into state budget in accordance with the law on transformation of ownership of enterprises, public non-business units, the law on management and use of state capital invested in production and business in enterprises.

The revenues from enterprises and public non-business units under the central government shall be remitted to the central budget; the revenues from enterprises, local public non-business units shall be remitted to local budget. The tax authority shall collect according to the provisions of the law on the state budget, the law on tax administration and the provisions of this Decree.

To balance the revenues as specified in Clause 1, Article 6 of this Decree in the budget estimate for spending state capital in investment in enterprises and key and important infrastructure works of the nation and localities as prescribed in Clause 2, Article 7 of this Decree.

Recurrent expenditures and development investment expenditures as specified in this Decree shall be guaranteed by the central and local budgets for enterprises, central and local public non-business units in accordance with the regulations on current state budget decentralization.

In addition, state budget revenues are as follows: Revenue from equitization of enterprises level 1 and public non-business units as prescribed; the revenue from other forms of ownership arrangement or conversion of enterprise level 1; the revenue from the transfer of State capital, the transfer of the rights to purchase shares for additional issuance and the rights to contribute capital in enterprises; collect the difference in equity which is larger than the charter capital of the operating enterprise level 1.

In addition, recurrent expenditures include: Support for the missing part of funds for handling costs of redundant laborers, downsizing payrolls, the costs related to equitization and other forms of arrangement and transfer other ownership under the State's expenditure responsibility in enterprises and public non-business units in accordance with the law on equitization and other forms of ownership arrangement and conversion. To make up for the lack of funds for the cost of transferring state capital, transferring the rights to buy additional issued shares and the rights to contribute state capital in enterprises in accordance with the law on management and use of state capital investing in production and business in enterprises. To handle the difference between the number of paid enterprises and public non-business units higher than the payable amount according to the final settlement of the representative agency in accordance with the law on equitization and state capital transfer and other forms of ownership arrangement and conversion.

This Decree takes effect from April 1, 2022.

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