On October 23, 2024, the Government Inspectorate issued Official Letter No. 2220/TTCP-KHTH to direct the development and issuance of the 2025 Inspection Plan of the Government Inspectorate. At the same time, it provided guidance for ministries, government agencies, agencies under the government, and People’s Committees of provinces and centrally-run cities to develop and issue their inspection plans for 2025, ensuring timeliness, effectiveness, and feasibility. Attached to the letter is an appendix specifying the inspection tasks of the Ministry of Finance.

I. Inspection of the Ministry of Finance

The inspection of the management of the state budget and public finance focuses on the following areas:

• State Budget Management: Inspecting the collection and expenditure of the state budget at ministries, sectors, and localities, especially those with large budgets and specific financial mechanisms.
• Fees and Charges: Monitoring the collection and expenditure of fees, charges, and other financial funds to prevent waste and misuse.
• Public Assets Management: Inspecting the use, protection, and transfer of public assets in compliance with legal regulations.
• Construction Investment Capital: Inspecting public investment projects, particularly those using state budget funds, government bonds, public debt, and projects at state-owned corporations.
• Off-budget Financial Funds: Inspecting state financial funds outside the budget to ensure proper use.
• State-Owned Enterprises: Inspecting the financial situation, tax obligations, and financial investments of large state-owned enterprises.
• Savings and Waste Prevention: Inspecting the implementation of cost-saving measures and the prevention of waste in public spending.

II. Inspection of the General Department of Taxation

Focusing on inspecting and checking businesses in nine industries with large potential tax revenue or risks, such as:

• Oil and gas; petroleum; electricity; telecommunications; banking; insurance; securities; financial leasing; pharmaceuticals; real estate; construction; gold, silver, and gemstones trading; entertainment; media and advertising; e-commerce;
• Large-scale enterprises that have not been inspected for many years;
• Enterprises involved in capital transfer, brand transfer, or project transfer;
• Enterprises issuing dividends in the form of stock or stock bonuses;
• Enterprises with related party transactions, transfer pricing, business results showing losses for several years, or much lower performance than others in the same industry or field;
• Enterprises with high risk of tax invoices;
• Enterprises showing signs of fraud, with risks regarding tax refunds;
• Enterprises benefiting from tax reductions or exemptions;
• Enterprises with tax exemption or reduction documents according to double tax avoidance agreements;
• Enterprises with suspicious transaction information provided by the banking inspection and supervision agency or customs authorities.

III. Other Agencies under the Ministry of Finance

• General Department of Customs
• State Treasury
• General Department of State Reserves
• State Securities Commission
• Insurance Supervision and Administration Department
• Accounting and Auditing Supervision Department
• Price Management Department
• Public Property Management Department
• Tax, Fee, and Charge Policy Supervision Department

IV. About Us, Hankuk Law Firm

■ Hankuk Law Firm – Introduction

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■ Contact Hankuk Law Firm

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