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Nontax Revenue Collection for Central Finance


 

Name

Nontax revenue collection for central finance

Introduction

It refers to the agency service provided by Bank of China collecting nontax revenue for central finance, including administrative charge, governmental fund, revenue from paid use of the state-owned resource, operating income of the state-owned capital, public welfare fund, penalty and confiscatory income, donation accepted in the name of the government, revenue from the competent departments' unified charge, and interest income generated from the government financial fund.

Features

Meet the requirement on collection of nontax revenue for central finance

Adopt various means of collection, including cash, note and remittance

Provide timely, correct, comprehensive and safe services of information feedback.

Scope of Application

It is applicable to the central revenue collection units for domestic collection of central non-tax fiscal revenues.

Scope of Business

Administrative charge, governmental fund, revenues from the compensated use of the state-owned resources, operating income of the state-owned capital, public welfare fund, penalty and confiscatory income, donation accepted in the name of the government, revenue from competent departments' unified charge, and interest income generated from the government financial fund.

Application Qualifications

1. The revenue collection units select a branch of Bank of China, and submit applications to the central competent authorities for opening a special account for central revenue collection. The central competent authorities examine and summarize the application, and then report it to the Ministry of Finance.

2. The Ministry of Finance notifies the approval to Bank of China head office. The office transfers the approval document to the special account application bank. The bank then opens the account for the revenue collection units according to the requirements of the Ministry of Finance.

Process

The collection of central non-tax fiscal revenue shall be carried out in two means: payment directly to the treasury and centralized collection.

Payment directly to the treasury:

1. The revenue collection unit issues the general payment certificate for non-tax revenue to the payer.

2. With this certificate, the payer goes through the payment formalities at the agency bank. The agency bank transfers the collected funds to the special account for central finance collection in a real-time way through the non-tax revenue collection system.

3. The special account opening bank automatically transfers the collected funds from the special account for revenue collection to the special account for central finance at end of every business day.

Centralized collection:

1. The revenue collection unit collects funds from the payer with the financial papers prepared and printed under supervision of the Ministry of Finance.

2. The income collection unit summarizes the collected funds on a daily basis, issues the general payment certificate of non-tax revenue, and transfers the funds to the special account for central finance collection in a centralized way.

3. The special account opening bank for collection transfers automatically the fund in the special account for collection to the special account for central finance at end of each business day.

Kind Reminder

When paying with checks, the payer shall transact the business at the agency bank or account opening bank for non-tax revenue collection.

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