TO PILOT SPECIAL FINANCIAL-BUDGETARY MECHANISMS AND POLICIES FOR HANOI FROM AUGUST 15, 2020
On June 19, 2020, the National Assembly issues the Resolution No. 115/2020/QH14 on pilot implementation of a number of special financial-budgetary mechanisms and policies for Hanoi.
Specifically, the Hanoi People’s Council shall decide to collect some types of charges in Hanoi suitable to the city’s characteristics as follows:
Firstly, to collect charges not yet specified in the List of charges and fees promulgated together with the Law on Charges and Fees.
Next, to adjust the approved levels or rates of the charges specified in the List of charges and fees promulgated together with the Law on Charges and Fees, except charges wholly belonging to the central budget revenues.
Hanoi’s budget may use 100% of the amount earned from the collection of charges above for making investment in the development of socio-economic infrastructure facilities and covering expenditures for economic, science and technology, education, health and social welfare activities that fall under the city’s spending tasks; such amount shall be excluded upon determination of percentage of revenues divided between the central budget and Hanoi’s budget.
This Resolution takes effect on August 15, 2020 and shall be implemented in 05 years.
