The main functions of the Ministry of Finance is to carry out the following duties of the state:
Economic and public finance policies
Formulating and implementing strategies, policies and guidelines for economic development, public finance for government revenue sharing between the central and provincial governments.
Administration of public finance and external debt
Draft laws and regulations on public finance, financial, accounting management, external finance and debts.
Annual budget for Central People's Government
Preparing the annual budget of the central government, priority spending, balancing the budget
Revenue and Tax legislation reforms
Proposing tax legislation plans - reviewing proposals on tax legislation and tax revenue regulations.
Central People's Government expendituree
Administering the central expenditures - procurement, expenses
Government Revenue distribution
Formulating and implementing the policy of distribution between the state and government owned enterprises
Economic Development Expenditure
Administering the central government expenditures for economic development, the appropriation for central government financed projects, and funds for technological innovation
Social Security Expenditure
Managing the social security expenditures from the central government; formulating the accounting management rules on social security funds; monitoring the utilization of the social security funds.
Domestic government debts
Formulating and implementing policies, rules and regulations on managing government’s domestic debts; treasury bond issuance; formulating policies, rules and regulations on managing government’s external debts
Formulating and implementing accounting regulations - for government and private corporations and promoting accountability and transparency.
Fiscal and Tax Policies
Monitoring the implementation of fiscal and tax policies - laws and regulations, examining problems with the system and making changes.
Fiscal research and education
Research into fiscal policy and education resources to the wider community.
Other Duties as Directed
Undertaking other assignments of the State Council.