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blue-check Guidelines on accounting for social and charity activities

Circular No. 41/2022/TT-BTC dated July 5th, 2022 of the Minister of Finance on providing guidelines on accounting for social and charity activities
Posted: 13/7/2022 3:08:50 PM | Latest updated: 13/10/2022 9:54:51 AM (GMT+7) | LuatVietnam: 5495 | Vietlaw: 583
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From September 1st, 2022, all organizations, agencies, units and individuals involved in canvassing, receipt, distribution and use of voluntary contributions for social and charity activities are required to open accounting books to record all economic transactions, prepare reports and disclose information in accordance with the provisions of this Circular and relevant laws.

Individuals performing social and charity activities who are required to open books to record all acts of receiving, distributing and using voluntary contributions shall comply with the provisions of this Circular; make reports and disclose information on their receipt, distribution and use of such contributions in accordance with regulations of law.

Organizations, agencies or units performing social and charity activities for which accounting works are organized separately from those for their canvassing, receipt, distribution and use of voluntary contributions shall open accounting books to record all economic transactions and prepare financial statements in an adequate and transparent manner according to regulations at Section 1 Chapter II of this Circular.

An organization, agency or unit that performs social and charity activities on a part-time basis without organizing separate accounting works for their canvassing, receipt, distribution and use of voluntary contributions shall record all business operations on the same accounting books in conformity with their applicable accounting policies but must be recorded in separate books in order to ensure monitor revenues and expenses associated with their social and charity activities.

This Circular takes effect from September 1st, 2022 and replaces Circular No. 103/2018/TT-BTC dated November 14th, 2018.

Notes
Please be informed that the attachments are neither translated nor included in the English file.
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Effective Date 1-Sep-2022
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 583

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enflag pdficon TT41-05072022BTC[EN].pdf

Timeline

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