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THE MINISTRY OF
FINANCE OF VIETNAM
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THE SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No.:
15/2023/TT-BTC
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Hanoi, March 10,
2023
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CIRCULAR
GUIDELINES
ON COLLECTION, TRANSFER AND ACCOUNTING OF CONTRIBUTIONS TO VIETNAM PUBLIC-UTILITY TELECOMMUNICATION
SERVICE FUND BY 2025
Pursuant to the Law on Telecommunications No.
41/2009/QH12 dated November 23, 2009;
Pursuant to the Government’s Decree No.
87/2017/ND-CP dated July 26, 2017 defining functions, tasks, powers and
organizational structure of the Ministry of Finance of Vietnam;
Pursuant to the Government’s Decree No.
25/2011/ND-CP dated April 06, 2011 detailing and guiding the implementation of
the Law on Telecommunications;
For the purposes of the Decision No. 2269/QD-TTg
dated December 31, 2021 of the Prime Minister of Vietnam giving approval for
the Program on provision of public-utility telecommunication services by 2025;
At the request of the Director of the Corporate
Finance Department;
The Minister of Finance of Vietnam promulgates a
Circular providing guidelines on collection, transfer and accounting of
contributions to Vietnam Public-Utility Telecommunication Service
Fund by 2025.
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This Circular provides guidelines on collection,
transfer and accounting of contributions made by telecommunications enterprises
to the Vietnam Public-utility Telecommunication Service Fund (VTF)
for implementing the Program on provision of public-utility telecommunication
services by 2025 approved in the Decision No. 2269/QD-TTg dated December 31,
2021 of the Prime Minister (hereinafter referred to as “Decision No.
2269/QD-TTg”).
Article 2. Regulated entities
1. Telecommunications enterprises mentioned in
Clause 2 Part IV Article 1 of the Decision No. 2269/QD-TTg (hereinafter
referred to as “telecom enterprises”).
2. VTF, other regulatory authorities, organizations
and individuals involved in the collection, transfer and accounting of
contributions made to VTF.
Article 3. Financial
contributions made by telecom enterprises to VTF
Telecom enterprises shall make contributions to VTF
according to the provisions of Part IV Article 1 of the Decision No.
2269/QD-TTg. This contribution will be determined adopting the following
formula:
Contribution made
by an enterprise
=
Revenue earned
from provision of telecommunications services subject to compulsory
contribution in the year
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Total months for
which contribution must be made in the year
x
Contribution rate
12 months
Where:
- The revenue earned from provision of
telecommunications services subject to compulsory contribution in the year
shall be determined in accordance with the provisions of the Circular No.
21/2019/TT-BTTTT dated December 31, 2019 of the Ministry of Information and
Communications and its amending or superseding documents (if any).
- Total months for which contribution must be made
in the year commence from the time of making contribution (or the contribution suspension
time) decided by the Ministry of Information and Communications according to
the provisions of Clause 3 Part IV Article 1 of the Decision No. 2269/QD-TTg
and shall be determined according to the rounding rule (if a month is equal to
or greater than 15 days, it shall be rounded up; if a month is less than 15
days, it shall be rounded down).
- Contribution rate shall be determined according
to Point b Clause 2 Part IV Article 1 of Decision No. 2269/QD-TTg.
Article 4. Plans for
contribution collection and transfer
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Based on their business performance in the
reporting year and business plans in the planning year, telecom enterprises
shall develop their plans to make financial contributions to VTF in the
planning year (sorted by quarters) and send them to VTF and the Ministry of
Information and Communications by July 31 every year.
2. For VTF:
a) Based on annual plans to make financial
contributions (sorted by quarters) submitted by telecom enterprises, VTF shall
make a plan to collect contributions from telecom enterprises and send it to
the Ministry of Information and Communications for approval by September 30
every year. VTF’s plan must be conformable with the provisions of the Decision
No. 2269/QD-TTg and shall be used as the basis for its collection of
contributions from telecom enterprises.
b) VTF shall notify telecom enterprises in writing
of the contribution suspension time according to the decision of the Ministry
of Information and Communications.
3. For the Ministry of Information and
Communications:
Pursuant to the Decision No. 2269/QD-TTg, the
Ministry of Information and Communications shall consider approving annual
plans to make financial contributions of telecom enterprises before December 31
in order to serve VTF’s contribution collection.
4. For the first year of contribution:
a) If the time of making contribution decided by
the Ministry of Information and Communications falls before June 30 of the
year:
- Telecom enterprises shall develop their plans to
make financial contributions for the remaining months of the year (sorted by
quarters) and their plans to make financial contributions in the next year
(sorted by quarters), and send them to VTF and the Ministry of Information and
Communications by July 31 every year.
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b) If the time of making contribution decided by
the Ministry of Information and Communications falls on or after June 30 of the
year:
- Within 30 days from the effective date of the
decision on time of making contribution issued by the Ministry of Information
and Communications, telecom enterprises shall send their plans to make
financial contributions for the remaining months of the year (sorted by
quarters) and their plans to make financial contributions in the next year
(sorted by quarters) to VTF and the Ministry of Information and Communications.
- Based on plans provided by telecom enterprises
(including plans to make financial contributions for remaining months of the
year and plans to make financial contributions in the next year), VTF shall
make a plan to collect contributions from telecom enterprises (sorted by
quarters) and send it to the Ministry of Information and Communications for its
approval which must be given by December 31 of the same year.
Article 5. Contribution
collection and transfer regimes
1. For telecom enterprises:
a) Based on their annual plans to make financial
contributions (sorted by quarters) sent to VTF and the Ministry of Information
and Communications, telecom enterprises shall actively make quarterly transfer
of money to VTF’s account. Such transfer of money must be completed within 20
days (for telecom companies) or 45 days (for telecom groups or corporations)
from the end of the quarter.
b) At the end of the fiscal year, based on their
description of revenue from telecommunications services made according to the
Circular No. 21/2019/TT-BTTTT and annual revenue statements, telecom enterprises
shall determine their contribution amounts payable in the year as prescribed in
Article 3 of this Circular and send reports thereon to VTF. Telecom enterprises
shall make statements of their financial contributions made in the year with
VTF by the deadline agreed upon with VTF provided that this deadline shall be
conformable with the deadline for submission of annual financial statements
specified in the Circular No. 200/2014/TT-BTC dated December 22, 2014 of the
Ministry of Finance of Vietnam and its amending or superseding documents (if
any).
The telecom enterprise shall pay the deficit to VTF
within 30 days from the day on which it has made statement of contributions
with VTF. Any overpaid amount shall be:
- offset against the amount of contributions to be
made in the next period; or
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c) Contributions made by telecom enterprises to VTF
as prescribed in this Circular are considered expenses incurred from provision
of public-utility telecommunications services and shall be recorded as business
expenses of telecom enterprises.
d) Financial contributions of telecom enterprises
as prescribed in this Circular shall be transferred to VTF’s account in VND.
2. For VTF:
a) Based on annual plans to make financial
contributions of telecom enterprises approved by the Ministry of Information
and Communications, VTF shall collect contributions from telecom enterprises
and submit annual report on collected contributions to the Ministry of
Information and Communications.
b) When the sum of collected contributions equals
the amount approved in Clause 1 Part Ib Article 1 of the Decision No.
2269/QD-TTg, VTF shall send a report on contribution collection status and
collected contributions to the Ministry of Information and Communications for
considering and deciding the contribution suspension time.
VTF shall notify telecom enterprises in writing of
the contribution suspension time according to the decision issued by the
Ministry of Information and Communications.
3. The Ministry of Information and Communications
shall notify telecom enterprises and VTF of the time of making contribution or
contribution suspension time.
4. Regarding contributions made for remaining
months of the first year of contribution: based on plans to make financial
contributions for remaining months of the year sent to VTF and the Ministry of
Information and Communications, telecom enterprises and VTF shall make and
collect contributions as well as make statements of contributions according to
Point a and Point Clause 1 of this Article.
Article 6. Accounting for
contributions
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a) A level-2 account shall be added to account 338
“Other payables” for monitoring amounts payable, paid amounts, unpaid amounts
and balance on financial contributions made to VTF.
b) A level-2 account shall be added to account 642
“Administrative expenses” for monitoring contribution amounts recorded as
expenses and carried forward upon determination of the enterprise's income as
to financial contributions made to VTF.
2. Accounting methods for primary business transactions
concerning financial contributions:
a) At the end of a quarter:
- Based on the plan to make financial contributions
sent to VTF, entries are recorded as follows:
Debit side of account 642:
Administrative expenses (Level-2 subaccount -
Financial contributions made to VTF)
Credit side of account 338:
Other payables (Level-2 subaccount - Payables to
VTF)
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Debit side of account 338:
Other payables (Level-2 subaccount - Payables to
VTF)
Credit side of account 112.
b) At the end of a fiscal year:
- Based on its revenue actually earned in the year,
the telecom enterprise shall determine the difference between the amount of
contributions payable according to its plan sent to VTF and the amount of
contributions payable that it determined and take the following actions:
+ In case of negative difference, the additional
contribution made shall be recorded as follows:
Debit side of account 642:
Administrative expenses (Level-2 subaccount -
Financial contributions made to VTF)
Credit side of account 338:
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+ In case of positive difference, a decrease in
amount payable (negative number) shall be recorded as follows:
Debit side of account 642:
Administrative expenses (Level-2 subaccount -
Financial contributions made to VTF)
Credit side of account 338:
Other payables (Level-2 subaccount - Payables to
VTF)
- When making additional contribution to VTF’s
account, this amount shall be recorded in the same manner as the second entry
in Point a Clause 2 of this Article.
- In case of overpayment, the overpaid amount shall
be deducted from the amount of contributions to be made in the next period. If
the overpaid amount is refunded, it shall be recorded as follows:
Debit side of account 112
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Other payables (Level-2 subaccount - Payables to
VTF)
c) When VTF completes verification of statements of
financial contributions with telecom enterprises, if there is any difference
between the amount of contributions payable determined by the telecom
enterprise and that determined by VTF, the entries in Point b Clause 2 of this
Article shall be used.
Article 7. Responsibility for
implementation
1. Telecom enterprises shall separately record
their revenues from provision of telecommunications services subject to
compulsory contribution, make contributions in a timely manner in accordance
with this Circular, and provide data and explanatory documents on issues
concerning their financial contributions made to VTF.
2. VTF shall:
a) expedite telecom enterprises to sufficiently
make financial contributions on schedule and verify annual statements of financial
contributions with telecom enterprises as prescribed.
b) request telecom enterprises to provide data and
explanatory documents on issues concerning their financial contributions made
to VTF; inspect and instruct telecom enterprises to make contributions in
accordance with this Circular, ensuring adequate determination of telecom
enterprises and their telecommunications services subject to compulsory
contribution.
c) detect and request competent authorities to take
actions against violations committed by telecom enterprises regarding their
fulfillment of obligations to make financial contributions to VTF according to
the provisions of this Circular and relevant laws.
3. The Ministry of Information and Communications
of Vietnam shall:
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b) supervise and inspect VTF’s collection of
contributions from telecom enterprises.
Article 8. Effect
1. This Circular comes into force from April 25,
2023.
2. Difficulties that arise during the
implementation of this Circular should be reported to the Ministry of Finance for
consideration./.
PP. MINISTER
DEPUTY MINISTER
Cao Anh Tuan