MANAGEMENT AND USE OF INTERESTS ON LOANS FROM THE NATIONAL EMPLOYMENT FUND
On March 21, the Ministry of Finance issued the Circular No. 54/2016/TT-BTC on the regulations on management and use of interests on loans from national employment fund.
In accordance with the regulations prescribed in this Circular, based on the amount of interest collected, Vietnam Bank for Social Policies shall set apart an expense for the management, compilation, inspection and supervision carried out by the agency for labor – invalids and social affairs; set apart 0.3% of the amount of interest collected as a subsidy for the management, compilation, inspection and supervision carried out by the Ministry of Labor, Invalids and Social Affairs; set apart 15% of the amount of interest collected for the management, compilation, inspection and supervision carried out by local labor agencies; set apart 10% of the amount of interest collected for addition to the national employment fund's sources of finance.
Within that expenses for management, compilation, inspection and monitoring by labor agencies such as: expenses for professional conferences, training programs; organization of partial and entire summing-ups of activities of providing loans for job creation; expenses for procurement and repair of properties serving the management of the national employment fund are instructed in the Law on Bidding; expenses for investigation into provision of loans and creation of jobs, maintenance and extension of employment; expenses for commendation to collectives, individuals for achievements in managerial tasks, provision of loans for job creation….
This Circular takes effect on May 05, 2016.
