THE MINISTRY OF
EDUCATION AND TRAINING - THE MINISTRY OF FINANCE -
THE MINISTRY OF LABOR, WAR INVALIDS AND SOCIAL AFFAIRS
No. 29/2014/TTLT-BGDDT-
BTC-BLDTBXH
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom – Happiness

Hanoi, August 26, 2014
 
 
JOINT CIRCULAR
On the management of finance, accounting, audit and tax applicable to foreign cooperation and investment in education, training and vocational training
Pursuant to the Government’s Decree No. 36/2012/ND-CP of April 18, 2012, defining the functions, tasks, powers and organizational structure of ministries and ministerial-level agencies;
Pursuant to the Government’s Decree No. 32/2008/ND-CP of March 19, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Education and Training;
Pursuant to the Government’s Decree No. 215/2013/ND-CP of December 23, 2013, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
Pursuant to the Government’s Decree No. 106/2012/ND-CP of December 20, 2012, defining the functions, tasks, powers and organizational structure of the Ministry of Labor, War Invalids and Social Affairs;

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Pursuant to the Government’s Decree No. 73/2012/ND-CP of September 26, 2012, on foreign cooperation and investment in education;
The Minister of Education and Training, the Minister of Finance and the Minister of Labor, War Invalids and Social Affairs promulgate the Joint Circular on the management of finance, accounting, audit and tax applicable to foreign cooperation and investment in education, training and vocational training.
 
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation and subjects of application
1. Scope of regulation
This Circular provides the management of finance, accounting, audit and tax applicable to foreign cooperation and investment in education, training and vocational training of education institutions carrying out joint training with foreign parties and foreign-invested education institutions.
2. Subjects of application
This Circular applies to preschool institutions, general education institutions, vocational education institutions, higher education institutions and continuing education institutions (below collectively referred to as education institutions), international organizationspermitted to cooperateand invest in education, training and vocational training, and other related organizations and individuals.

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Article 2. Accounting
Education institutions permitted to carry out joint training with foreign parties and foreign-invested education institutions shall do accounting work according to the Accounting Law and its guiding documents currently in force; and apply the accounting regime promulgated by the Ministry of Finance suitable to the operation model of each institution.
Article 3. Audit

Financial activities of joint training with foreign parties and financial statements of foreign-invested education institutions shall be annually audited by audit firms lawfully operating in Vietnam under the Law on Independent Audit and its guiding documents currently in force. Education institutions shall send their financial statements enclosed with auditor’s reports to their direct managing state agencies in charge of education and vocational training.

 


[1] Công Báo Nos 863-864 (20/9/2014)

 

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