Recommended Improvements to Finance Law for the 22nd National Assembly

Published on June 27, 2024
Published by Industrial Budget Analysis Division, Budget Analysis Department

   The aim of this report is to introduce the key discussions on amendments to finance laws and regulations during the 21st National Assembly, focusing on the National Finance Act, which is pivotal to our fiscal framework. It also offers recommendations on enhancing the transparency and rationality in overall national fiscal operation by addressing potential blind spots in the National Assembly's budget and settlement review processes moving forward. Unlike previous reports that primarily addressed areas where legislative improvements could be made, this report expands its scope to analyze the subordinate law and administrative regulations including enforcement decrees and enforcement rules, recognizing their significant influence on the operational aspects of the fiscal system.
   This report outlines a total of 39 improvement tasks categorized into 8 key areas: ‘strengthening the National Assembly’s budget and settlement review function’, ‘ensuring fiscal discipline of the National Assembly’, ‘integrating non-fiscal operating funds into national finance’, ‘streamlining fiscal operational methods’, ‘tax expenditures and related systems’, ‘expanding fiscal data submissions’, ‘securing mid- to long-term fiscal outlook and sustainability’, and ‘enhancing fiscal system management.’ Each area is explored through specific improvement tasks, offering a comprehensive view of the directions for enhancing our fiscal system from various perspectives.