August 18, 2019 16:47

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State Treasury of Vietnam: Gradually modernize budget management

19:50 | 10/08/2019

VCN- Implementing the Strategy to develop the State Treasury system by 2020, the State Treasury is modernizing professional processes towards maximum convenience for customers.  

state treasury of vietnam gradually modernize budget management Collecting revenue between state treasury and commercial bank: Bring benefits to 3 parties
state treasury of vietnam gradually modernize budget management State Treasury’s online public service improved
state treasury of vietnam gradually modernize budget management Regulations on account management of State Treasury at commercial banks
state treasury of vietnam gradually modernize budget management
Professional activities at Dien Bien State Treasury. Photo Thuy Linh.

Improving policies and procedures

Overall assessment of the results on implementing the strategy of developing the State Treasury system by 2020, according to the State Treasury, on the mechanisms,policies and professional processes, the State Treasury system has completed the regulations related to functions and tasks of the State Treasury in the State Budget Law, the Accounting Law and the Public Debt Management Law, thereby creating a high, complete and synchronous legal basis for the reform and modernization of functions and tasks of the State Treasury on management of State budget fund, state budget management, capital mobilization and total state accounting.

In addition, the State Treasury also strengthened the organizational structure in the direction of focusing on managing, operating and streamlining the administrative apparatus. According to the State Treasury, this model has ensured the direction from high to low level of the State Treasury, the professional tasks are separated and clear, avoiding overlaps. At the same time, boosting the development of human resources, contributing to increasing the proportion of high-ranking andprofessional officials, gradually reducing the proportion of elementary-level officials.

For information technology modernization, the State Treasury has successfully implemented the treasury and budget management information system(TABMIS). The State Treasury has developed information technology systems that are concentrated, online and integrated with the TABMIS system; invested in infrastructure development, information technology and information technology staff. Since then, the State Treasury has made a breakthrough in information technology, effectively supporting the reform and modernization of the State Treasury system.

Modernizing revenue collection and spending

In the strategy of developing the State Treasury system until 2020, the key work is to manage state budget funds and state financial funds. With the drastic direction of the State Treasury leaders, it has tied the state budget fundmanagement with the state budgetmanagement and completing the report through the TABMIS system.

The State Treasury also manages a number of state financial funds which are assigned; accounting in the TABMIS system and collecting and spending, paying via centralized payment system of the State Treasury at the bank.

In particular, the policy of modernizing the management of state budget revenues through the State Treasury by the connection and exchange of electronic state budget collection data between the State Treasury - Tax / Customs - commercial bankshave achieved remarkable results with the expansion of collection accounts; application of electronic payment in the state budget revenue. According to taxpayers' assessment, this has created maximum benefits and limited payments by cash. At the same time, it helps to concentrate revenues of the state budget, saving collection costs.

According to the State Treasury, in reform of administrative procedures, it controlled the state budget spending commitment through the State Treasury, contributing to improving financial discipline and preventing debts in payment.

So far, the State Treasury has built and completed the mechanism and process of controlling state budget spending through the State Treasury in the direction of simplification, clearly defining responsibilities and powers of agencies and units; at the same time, changed from ‘control before payment’ to ‘payment before control’.

Initially building a level to implement risk control for recurrent expenditures; implementing the process of sending expenditure control records to the State Treasury through the public service information website of the State Treasury. The State Treasury has also developed and implemented a mechanism for sanctioning administrative violations in its sector.

In particular, the State Treasury system has built a database to collect and store information on budget estimates, compliance and settlement; perfecting targets and methods of determining the collection and expenditures of state budget revenues in accordance with practices, therebyinnovating thestatistics of revenue and expenditure of the state budget fund.

By Thuy Linh/KieuOanh