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ENFORCEMENT DECREE OF THE KOREA FISCAL INFORMATION SERVICE ACT

Presidential Decree No. 31380, Jan. 5, 2021

 Article 1 (Purpose)
The purpose of this Decree is to prescribe matters mandated by the Korea Fiscal Information Service Act and matters necessary for the enforcement thereof.
 Article 2 (Request for and decision on contributions)
(1) Pursuant to Article 11 (2) of the Korea Fiscal Information Service Act (hereinafter referred to as the "Act"), the Korea Fiscal Information Service shall submit to the Minister of Economy and Finance a budget request for contributions for the following fiscal year accompanied by the following documents, no later than April 30 every year: <Amended on Jan. 5, 2021>
1. Business plan for the following fiscal year;
2. Written income forecast and forecast statement of financial position for the following fiscal year;
3. Other documents necessary for clarifying the details of the budget request.
(2) When the Minister of Economy and Finance deems that the details of a request under paragraph (1) are reasonable, he or she shall reflect the details thereof in the budget.
(3) When the budget for contributions is determined, the Minister of Economy and Finance shall notify the Korea Fiscal Information Service of such fact.
 Article 3 (Payment, management, and use of contributions)
(1) If the Korea Fiscal Information Service intends to receive contributions, it shall submit an application for payment of contributions to the Minister of Economy and Finance, along with a quarterly business plan and a budget execution plan for the relevant fiscal year.
(2) Upon receipt of an application for payment under paragraph (1), the Minister of Economy and Finance shall pay contributions if the Minister of Economy and Finance deems that the quarterly business plan and the budget execution plan are reasonable.
(3) The Korea Fiscal Information Service shall manage the contributions received pursuant to paragraph (2) in a separate account.
(4) The Korea Fiscal Information Service shall use the contributions received pursuant to paragraph (2) for the purposes specified in the quarterly business plan and the budget execution plan.
 Article 4 (Submission of business plan)
The business plan submitted by the Korea Fiscal Information Service pursuant to Article 12 (1) of the Act shall include the following matters:
1. Business objectives;
2. Subjects and objects of business;
3. Business details;
4. Business expenses;
5. Other matters necessary for conducting the business of the Korea Fiscal Information Service.
 Article 5 (Report on settlement of accounts)
The Korea Fiscal Information Service shall attach the following documents to the statement of settlement of accounts submitted pursuant to Article 12 (2) of the Act. <Amended on Jan. 5, 2021>
1. The statement of financial position and the income statement for the relevant fiscal year;
2. A comparison table between the business plan for the relevant fiscal year and the performance of its execution;
3. Other relevant data verifying the details of the settlement of accounts.
 Article 6 (Criteria for imposing administrative fines)
The criteria for imposing administrative fines under Article 21 (1) of the Act shall be as specified in the attached Table.
ADDENDUM <Presidential Decree No. 27167, May 17, 2016>
This Decree shall enter into force on May 23, 2016.
ADDENDUM <Presidential Decree No. 31380, Jan. 5, 2021>
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)