To: The Ministry of Construction.

On March 07, 2023, the Ministry of Finance received an Official Dispatch No. 741/BXD-KHTC dated March 02, 2023 of the Ministry of Construction on request for guidance on implementation of Decree No. 148/2021/ND-CP and Circular No. 57/2021/TT-BTC. In addition, on February 24 2023, the Ministry of Finance received Official Dispatch No. 75/TCT-TCKT dated February 20, 2023 of Song Da Corporation – JSC and Official Dispatch No. 186/DTKDV-DT2 dated February 13, 2023 of State Capital and Investment Corporation (hereinafter referred to as “SCIC”) that have been sent to the Ministry of Construction on request for consideration for exemption from late payment interest submitted to Enterprise Arrangement and Development Fund (hereinafter referred to as “Fund”). After conducting study, the Ministry of Finance has opinions as follows:

I. Legal basis for authority to review, determine debts payable to the Fund and exempt late payment interest for enterprises

1. Regarding regulated entities: Pursuant to Clause 1 Article 2 of Government’s Decree No. 148/2021/ND-CP dated December 31, 2021 on management and use of revenues generated by transfer of ownership of enterprises and public service providers, revenues generated by transfer of state capital and equity amount that exceeds charter capital of enterprises, the regulated entities shall be central state investment representative agencies, including ministries, ministerial agencies, Governmental agencies, Committee for Management of State Capital at Enterprises.

Pursuant to aforesaid regulations, SCIC is an enterprise affiliated to Committee for Management of State Capital at Enterprises and it is not a central state investment representative agency.

2. Pursuant to regulations in Point a, Clause 1 Article 14 of Decree No. 148/2021/ND-CP, the Ministry of Finance issued a Circular No. 57/2022/TT-BTC on provision of specific guidance on regulations in Decree No. 148/2021/ND-CP. According to these regulations, the Decree No. 148/2021/ND-CP provides for and the Circular No. 57/2022/TT-BTC provides specific guidance on review and determination of amounts payable to, and settlement of exemption from late payment interest payable to the Fund. To be specific:

2.1. Regarding responsibility for review and determination of amounts payable to the Fund (including principal debt and late payment interest)

Pursuant to Clause 2 Article 11 of Decree No. 148/2021/ND-CP, central state investment representative agencies shall be responsible for reviewing and determining amounts payable to the Fund.

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In nature, central state investment representative agencies that make transfer ownership of enterprises shall be responsible for finalization and determination of public debts for wholly state-owned enterprises that are equitized.

Pursuant to aforesaid regulations and reality, the Ministry of Construction (central state investment representative agency) is responsible for reviewing and determining amounts payable to the Fund (including principal debt and late payment interest) at enterprises decided by the Ministry of Construction or assigned by the Prime Minister to transfer ownership or capital (including amounts payable in enterprises where state capital has been fully withdrawn, enterprises where state investment representation has been transferred to SCIC (including enterprises whose capital has been fully withdrawn by SCIC), consolidating and notifying the Ministry of Finance in order to keep such amounts in central government budget according to regulations.

2.2 Regarding authority to exempt late payment interest for enterprises

Pursuant to Clause 2 Article 13 of Decree No. 148/2021/ND-CP, central state investment representative agencies shall decide exemption from late payment interest for enterprises.

Pursuant to Clause 4 Article 10 of Circular No. 57/2022/TT-BTC, central state investment representative agencies shall decide exemption from late payment interest (conforming to regulations in Decree No. 148/2021/ND-CP). Since the central state investment representative agency is responsible for data on approval for finalization of equitisation at the time in which the enterprise is officially equitized before state investment representation is transferred to SCIC and Circular No. 57/2022/TT-BTC is a basis for issuance of a decision on exemption from late payment interest, Circular No. 57/2022/TT-BTC provides for the responsibility of the central state investment representative agency in case of enterprises where state investment representation has been transferred to SCIC.

Pursuant to aforesaid regulations, the Ministry of Construction that acts as the central state investment representative agency is responsible for decision on exemption from late payment interest for central-affiliated enterprises, including:

+ Enterprises affiliated to the Ministry of Construction where state investment representative has not been transferred to SCIC;

+ Enterprises affiliated to the Ministry of Construction where state investment representative have been transferred to SCIC (including enterprises where state capital has been fully exhausted) but equitisation finalization has not been approved at the time in which enterprises are officially considered as joint-stock companies before April 01, 2022 on the basis of reports of SCIC.

- Committee for Management of State Capital at Enterprises shall decide exemption from late payment interest for enterprises where state investment representation has been transferred to the SCIC (including SCIC enterprises where capital has been fully exhausted) and equitisation finalization has been approved by the Ministry of Construction at the time in which enterprises are officially considered as joint-stock companies before April 01, 2022 on the basis of report and consolidation of SCIC.

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1. Pursuant to aforesaid regulations, the Ministry of Finance realizes that regulations in Decree No. 148/2021/ND-CP and Circular No. 57/2022/TT-BTC are not different. Circular No. 57/2022/TT-BTC provides specific guidance on regulations stated in Decree No. 148/2021/ND-CP.

2. According to aforesaid contents in Section I, suggestions of the Ministry of Construction about the responsibility for review and determination of debts payable to the Fund and authority to exempt late payment interest have been provided in Decree No. 148/2021/ND-CP and Circular No. 57/2022/TT-BTC. Hence, the Ministry of Finance requests the Ministry of Construction to quickly review and cooperate with SCIC in determining amounts payable to the Fund and exempting late payment interest for enterprises according to regulations in Decree No. 148/2021/ND-CP and Circular No. 57/2022/TT-BTC.

3. Via review, the Ministry of Finance detects that there are 05 enterprises where finalization of state capital has not been approved at the time in which the enterprises are officially considered as joint-stock companies, including Fair Isaac Corporation, LILAMA Corporation, Coma Corporation, Song Da Corporation and Constrexim Construction Investment Joint Stock Company. The Ministry of Finance recommends the Ministry of Construction to approve finalization of state capital as the basis for issuance of Decision on declaration of value of the state capital at the time in which the 05 aforesaid corporations are officially equitized and determine amounts payable to the Fund, and settle late payment interest according to regulations (if any). The Ministry of Finance has mentioned this repeatedly in Official Dispatch No. 9050/BTC-TCDN dated September 16, 2022, Official Dispatch No. 5404/BTC-TCDN dated June 8, 2022, Official Dispatch No. 1951/BTC-TCDN dated March 1, 2022, Official Dispatch No. 11651/BTC-TCDN dated October 12, 2021, Official Dispatch No. 7385/BTC -TCDN dated July 6, 2021, Official Dispatch No. 2694/BTC-TCDN dated March 17, 2021, Official Dispatch No. 7777/BTC-TCDN dated June 13, 2017, etc. to the Ministry of Construction in order to urge implementation.

For your information and consideration./.

PP. THE MINISTER
DEPUTY MINISTER




Nguyen Duc Chi