MINISTRY
OF FINANCE
-------
|
SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
---------------
|
No.
01/2025/TT-BTC
|
Hanoi,
January 9, 2025
|
CIRCULAR
ON
MANAGEMENT, DEPRECIATION CALCULATION, AND DEPRECIATION CHARGING WITH RESPECT TO
MARKET INFRASTRUCTURE ASSETS
Pursuant to the Law on
Management and Use of Public Assets dated June 21, 2017;
Pursuant to the Law on
amendments to the Law on Securities; the Law on Accounting; the Law on
Independent Audit; the Law on State Budget; the Law on Management and Use of
Public Property; the Law on Tax Administration; the Law on Personal Income Tax;
the Law on National Reserves; the Law on Handling Administrative Violations
dated November 29, 2024;
Pursuant to Decree No.
60/2024/ND-CP dated June 5, 2024 of the Government on the development and
management of markets;
Pursuant to Decree No.
14/2023/ND-CP dated April 20, 2023 of the Government defining the functions,
tasks, powers, and organizational structure of the Ministry of Finance;
At the request of the Director
of the Public Asset Management Authority;
The Minister of Finance promulgates
a Circular on management, depreciation calculation, and depreciation charging with
respect to market infrastructure assets.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
SCOPE AND REGULATED ENTITIES
Article 1. Scope
1. This Circular provides for the
regime of management, depreciation calculation, and depreciation charging with
respect to market infrastructure assets that are fixed assets invested and
managed by the State (hereinafter referred to as “market infrastructure
assets”) as prescribed in Clause 16 Article 3 of the Government’s Decree No.
60/2024/ND-CP dated June 5, 2024 on development and management of markets, and
assigned to managing agencies or units in accordance with Chapter IV of Decree
No. 60/2024/ND-CP .
2. This Circular does not apply to
market infrastructure assets assigned to enterprises for management in the form
of state capital investment in enterprises.
3. For market infrastructure assets
that do not meet the criteria of fixed assets as prescribed in Article 3 of
this Circular, asset monitoring shall be carried out by recording them as tools
and instruments in accordance with regulations of the law on the accounting
regime.
Article 2. Regulated entities
1. Agencies and units assigned to manage
market infrastructure assets in accordance with Chapter IV of Decree No.
60/2024/ND-CP include:
a) Public sector entities.
b) Province-level specialized
agencies for market infrastructure assets;
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
d) Commune-level People’s
Committees.
2. Other entities involved in the
management, depreciation calculation, and depreciation charging with respect to
market infrastructure assets.
Chapter II
GENERAL PROVISIONS ON MANAGEMENT OF MARKET
INFRASTRUCTURE ASSETS AS FIXED ASSETS
Article 3. Criteria for
identifying market infrastructure assets as fixed assets
1. Identification of market
infrastructure assets
a) The land use right for each land
parcel or land area allocated to each agency or unit within a parcel shall be
identified as a single asset.
b) Assets not falling under Point a
of this Clause shall be identified as follows:
An independently used asset shall
be identified as a single asset;
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
A system assigned to multiple
agencies or units for management shall be recognized as separate assets for
each agency or unit.
2. Market infrastructure assets
specified in Clause 1 of this Article (except for those specified in Clause 3
of this Article) shall be classified as fixed assets when simultaneously
meeting the following two criteria:
a) Having a useful life of one (01)
year or more;
b) Having an original cost of VND
10,000,000 (ten million dong) or more.
3. Market infrastructure assets
specified in Clause 1 of this Article, assigned to public sector entities that
are financially autonomous in recurrent expenditures and investment
expenditures, or subject to the inclusion of fixed asset depreciation in
service prices in accordance with laws, shall be classified as fixed assets
when simultaneously meeting the following two criteria:
a) Having a useful life of one (01)
year or more;
b) Meeting the criteria for
original cost of fixed assets as prescribed by the laws applicable to
enterprises.
Article 4. Principles for
management of market infrastructure assets as fixed assets
1. Market infrastructure assets
specified in Article 3 of this Circular must have asset dossiers prepared for
strict management in terms of physical conditions and value in accordance with
regulations of the law on management and use of public property and relevant
legislation.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
3. Agencies and units assigned to
manage market infrastructure assets shall:
a) Account for all market
infrastructure assets assigned for management in accordance with the current
accounting regime;
b) Conduct annual physical
inventories of assets and make adjustments to accounting records in case of
discrepancies arising from the inventory;
c) Submit asset declaration reports
and reports on the status of management and use of market infrastructure assets
in accordance with Article 34 of Decree No. 60/2024/ND-CP and relevant
legislation.
4. In case market infrastructure
assets are no longer needed but depreciation calculation has not been completed
or depreciation charging has not been fully performed as prescribed, the
agencies or units assigned to manage the assets shall continue to manage,
monitor, and preserve such assets as prescribed, and calculate or charge
depreciation as stipulated in this Circular until the assets are disposed of in
accordance with regulations.
5. With respect to market
infrastructure assets for which depreciation calculation has been completed or depreciation charging has been fully performed, but
which are still usable, the agencies or units assigned to manage the assets
shall continue to manage, use, monitor, and preserve such assets as prescribed,
and shall not further calculate or charge depreciation.
With respect to market
infrastructure assets for which depreciation calculation has been completed or
depreciation charging has been fully performed but subsequently fall under a
case requiring adjustment of original cost as prescribed in Clause 7 Article 6
of this Circular, depreciation calculation and depreciation charging shall be
carried out for the remaining useful life (if any) after the adjustment of
original cost.
6. In case the right to operate
market infrastructure assets is leased out, the agencies or units assigned to operate
the assets (lessors) shall continue to manage, monitor, and calculate
depreciation of the assets as prescribed in this Circular during the lease
term.
7. In case of definite-term
transfer of the right to operate market infrastructure assets, during the
transfer period, the agencies or units assigned to operate the assets
(transferors) shall:
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
b) Not carry out depreciation calculation or charging as prescribed in
this Circular but must continue to monitor the original cost of the assets
recorded at the time of transfer in accounting books and present it in the
notes to financial statements in accordance with the current accounting regime;
c) Upon expiry of the definite-term
transfer of the right to operate market infrastructure assets, the agencies or
units assigned to manage the assets shall re-accept the assets in accordance
with the fixed-term transfer contract for the right to operate the assets and
applicable laws, and re-determine the original cost and residual value of the
assets for management, use, depreciation calculation or charging in accordance
with Decree No. 60/2024/ND-CP and this Circular.
Chapter III
DEPRECIATION CALCULATION AND CHARGING WITH RESPECT TO
MARKET INFRASTRUCTURE ASSETS AS FIXED ASSETS
Article 5. Determination of
original cost of land use right
1. In case the agency or unit is
allocated land by the State without collection of land levies, the original
cost of the land use right asset shall be determined as follows:
Original
cost of land use right asset (VND)
=
Land
area (m²)
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Commercial
and service land price under the Land Price Table (VND)
+
Taxes
(excluding deductible or refundable taxes), and fees and charges in
accordance with the law on fees and charges (VND)
2. In case the agency or unit is
leased land by the State and is exempt from land rent for the entire lease
term; or is leased land by the State with lump-sum rental payment for the
entire lease term; or receives the transfer of land use right under a lease
arrangement, in which the lump-sum rental payment or the transfer value
originates from the state budget, the original cost of the land use right asset
shall be determined as follows:
Original
cost of land use right asset (VND)
=
Land
area (m²)
x
Commercial
and service land price under the Land Price Table (VND)
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Lease
term (years)
+
Taxes
(excluding deductible or refundable taxes), and fees and charges in
accordance with the law on fees and charges (VND)
70
years
The paid land rent and the amount
paid for the transfer of land use rights shall be deemed to originate from the
state budget in the cases specified at Points a, b, and c Clause 3 Article 42
of Decree No. 151/2017/ND-CP dated December 26, 2017 of the Government
elaborating on a number of articles of the Law on Management and Use of Public
Property (as amended by Clause 38 Article 1 of Decree No. 114/2024/ND-CP dated
September 15, 2024 of the Government on amendments to a number of articles of
Decree No. 151/2017/ND-CP).
3. In case the agency or unit is
leased land by the State and pays a lump-sum land rent for the entire lease
term in accordance with the law on land, but such land rent does not originate
from the state budget; or the agency or unit receives the transfer of land use
rights and the amount paid for the transfer does not originate from the state
budget, then the original cost of the land use right asset shall be determined
as follows:
Original
cost of land use right asset (VND)
=
Lump-sum
land rent for the entire lease term or the amount paid for the transfer of
land use rights (VND)
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Compensation
and site clearance costs in case of land leased by the State with lump-sum
payment (if any, and only where such compensation and site clearance costs
have not been included in project investment capital, production and business
costs, or have not been deducted or offset against the land rent payable as
permitted by a competent authority) (VND)
+
Taxes
(excluding deductible or refundable taxes), and fees and charges in
accordance with the law on fees and charges (VND)
4. In case of land lease with
annual rental payment, the original cost of the land use right asset is not
required to be determined.
5. The original cost of the land
use right asset shall be adjusted in the following cases:
a) Periodic adjustment every 5
years starting from 2026;
b) When the used land area changes
compared to the land area previously used to determine the original cost of the
land use right in the following cases: land inventory under the law; decision
of a competent state agency on land recovery, additional land allocation,
transfer or acquisition of additional land use rights; or other cases where the
change in land area is confirmed by a competent authority;
c) Change in land use purpose as
decided by a competent state authority;
d) Upon inventory and reassessment
of public property value as decided by a competent agency or individual.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
1. The original cost of market
infrastructure assets that were put into use before the effective date of
Decree No. 60/2024/ND-CP (August 1, 2024) shall be determined as follows:
a) For market infrastructure assets
that have already been monitored and recorded in accounting books, the original
cost shall be the current book value being monitored and recorded.
b) For market infrastructure assets
that have not been monitored and recorded in accounting books:
b1) In case there is documentation
identifying the purchase price or construction cost of the asset, such data
shall be used to determine the original cost.
b2) In case documentation under
Point b1 is unavailable, but the accounting books of the managing agency/unit
or of another managing unit within the same province or city contain original
cost information of other market infrastructure assets with equivalent grade,
class, capacity, and year of use, then the original cost of the equivalent asset
shall be used for determination.
b3) In case there is no basis to
determine the original cost under Points b1 or b2, but there is a basis to
determine the time the asset was put into use and the new purchase price or new
construction cost of a similar asset (with equivalent grade, class, and
capacity) at the time of use, the original cost shall be determined as follows:
Original
cost of market infrastructure asset (VND)
=
New
purchase price of a similar asset or new construction cost of an asset with
equivalent grade, class, and capacity at the time the asset is put into use (VND)
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
- The new purchase price of a
similar asset, applicable to assets other than houses, construction works, and
architectural structures, is the market price of a similar new asset at the
time it is put into use.
- The new construction cost of an
asset with equivalent grade, class, and capacity, applicable to houses,
construction works, and architectural structures (including those formed
through procurement), shall be determined as follows:
New
construction cost of the asset (VND)
=
New
construction unit price of an asset with equivalent grade, class, and
capacity issued by the Province-level People’s Committee applicable at the
time the asset is put into use (VND)
x
Constructed
area (m²)/quantity... of the asset
+
Value
of other structures attached to the work/item (e.g. ceiling, floor, etc.),
determined in accordance with regulations of the relevant line ministry (or
specific local regulations where the asset is located) at the time the asset
is put into use (VND)
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
2. The
original cost of market infrastructure assets formed through procurement and
put into use from August 1, 2024 shall be determined as follows:
Original
cost of market infrastructure asset procured (VND)
=
Value
stated on the invoice
-
Commercial
discounts, rebates, or seller penalties (if any) (VND)
Transportation,
loading and unloading, repair, renovation, upgrading, installation, and trial
operation costs (VND)
+
Taxes
(excluding deductible or refundable taxes); fees and charges in accordance
with the law on fees and charges (VND)
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Other
costs (if any) (VND)
Where:
- Commercial discounts, rebates, or
seller penalties (if any) deducted from the invoice value shall only apply
where such amounts are included in the invoice value.
- Other costs (if any) are
reasonable expenses directly related to the procurement of the market
infrastructure asset actually incurred by the agency or unit up to the time the
asset is put into use. case general costs arise for multiple assets, such costs
shall be allocated to each asset based on appropriate criteria (e.g., constructed
area, quantity, invoice value of each market infrastructure asset generating
the general cost, etc.).
3. The original cost of market
infrastructure assets formed through construction investment and accepted and
put into use from August 1, 2024 shall be the final settlement value approved
by the competent authority in accordance with the law. Specific cases are
handled as follows:
a) In cases where the market
infrastructure asset has been completed, put into use, but the final settlement
has not yet been approved by the competent authority, the agency or unit
assigned to manage the asset shall record the asset in the accounting books
from the date of handover and commissioning. The recorded original cost is a
provisional cost. The provisional cost in this case should be determined in the
following order of priority:
Verified final settlement value;
Proposed final settlement value;
Settlement value under the contract
between the investor and the contractor (A-B settlement);
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Most recently approved or adjusted
total investment amount (in case the total investment amount has been
adjusted).
When the final settlement is
approved by the competent authority, the agency or unit assigned to manage the
market infrastructure asset shall adjust the provisional original cost
according to the approved settlement value to update the accounting records and
carry out asset accounting in accordance with regulations.
b) In case the project comprises
multiple items and assets (multiple accounting objects), but does not have
separate cost estimates or final settlements for each item or asset, or has
separate estimates but no separate final settlements, the cost shall be
allocated to each item or asset for accounting purposes based on the principle
that direct costs related to a particular fixed asset shall be attributed to
that asset; general costs related to multiple fixed assets shall be allocated
based on the ratio of each fixed asset’s direct cost to the total direct cost
of all fixed assets.
c) For projects comprising multiple
items and assets (multiple accounting objects) that are invested in and
accepted separately by item or asset, each item or asset that has been
completed, accepted, and put into use must be recorded in the accounting books
from the date of handover and commissioning.
d) Where the project’s final
settlement value must be adjusted based on the recommendation or conclusion of
a competent authority following inspection or audit, the agency or unit
assigned to manage the market infrastructure asset must adjust the original
cost accordingly.
4. The original cost of market
infrastructure assets received through allocation or reallocation from August
1, 2024 (the effective date of Decree No. 60/2024/ND-CP) shall be determined as
follows:
Original
cost of market infrastructure asset received through allocation or
reallocation (VND)
=
Original
cost stated in the Handover and Acceptance Record (VND)
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Transportation,
loading and unloading, repair, renovation, upgrading, installation, and trial
operation costs (VND)
+
Fees
and charges in accordance with the law on fees and charges (VND)
+
Other
costs (if any) (VND)
Where:
a) The original cost recorded in
the Handover and Acceptance Report is determined as follows:
a1) For assets already monitored
and recorded in the accounting books, the original cost recorded in the
Handover and Acceptance Report is the original cost monitored and recorded by the
agency or unit possessing the asset for allocation or reallocation.
a2) For assets not yet monitored
and recorded in accounting books, the agency or unit possessing the asset for
allocation or reallocation shall be responsible for determining the original
cost of the asset in accordance with Clauses 1, 2, and 3 of this Article prior
to submission to the competent decision-maker on asset allocation or
reallocation.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
5. The original cost of market
infrastructure assets identified as surplus through inventory shall be
determined as follows:
Original
cost of surplus market infrastructure asset identified through inventory
(VND)
=
Original
cost stated in the Inventory Record (VND)
+
Fees
and charges in accordance with the law on fees and charges (VND)
+
Other
costs (if any) (VND)
Where:
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
b) Other costs (if any) are reasonable
expenses incurred by the agency or unit during the inventory process (including
costs for hiring valuation firms to determine asset values in accordance with
Vietnamese Valuation Standards or establishing a Valuation Council as
prescribed in Article 7 of this Circular as a basis for determining the
original cost and residual value of the market infrastructure asset for
accounting purposes). In case common costs arise for multiple assets, they
shall be allocated based on appropriate criteria (e.g. constructed area,
quantity, asset value associated with the common cost, etc.).
6. For market infrastructure assets
received back by the agency or unit after the expiration of the definite-term transfer
of the right to operate the asset as prescribed in Point c Clause 7 Article 4
of this Circular, the original cost shall be re-determined as follows: Original
cost of the market infrastructure asset
= Original cost recorded in accounting books at the time of transfer under the contract
on the transfer of the right to operate the asset for a definite term (+) Investment
value for upgrading or expansion under a project approved by a competent
authority (if any)
7. Cases of changes in the original
cost of market infrastructure assets:
a) Revaluation of asset value
during inventory according to the decision of a competent authority.
b) Investment in upgrading or
expansion of the asset under a project approved by a competent authority.
c) Dismantling of one or more
components of the market infrastructure asset (in cases where the value of the
dismantled components is being accounted for within the total original cost of
the asset), except for dismantling for maintenance purposes.
d) Installation of one or more
components of the market infrastructure asset, except for installations made to
replace components during maintenance.
dd) Partial loss or serious damage
of the asset due to natural disasters, force majeure events, or other sudden
impacts (except where the asset has been restored through insurance
compensation or compensation by the responsible organization or individual).
Article 7. Determination of the
original cost of market infrastructure assets in the case specified at Point b4
Clause 1 Article 6 of this Circular
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Based on the valuation certificate
or valuation report provided by the valuation enterprise, or the asset
valuation record prepared by the Asset Valuation Council, and the
characteristics and condition of the market infrastructure asset, the agency or
unit shall determine the original cost of the asset as follows:
Original
cost of market infrastructure asset (VND)
=
Reassessed
value of the asset (VND)
x
Depreciation
period of the asset as stipulated in Article 10 of this Circular (years)
Remaining
depreciation period of the asset (years)
2. The Asset Valuation Council
shall be established by decision of the head of the agency or unit possessing
the asset. The Council's composition includes: the head of the agency or unit
possessing the asset, or a person authorized by the head, as Chairperson; other
members include representatives of relevant specialized departments of the
agency or unit possessing the asset; and representatives of other relevant
agencies (if any).
The Asset Valuation Council shall
use the general valuation methods applicable to goods and services priced by
the State as the basis for asset revaluation.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
a) The Council shall work
collectively. A meeting to determine the asset value may only be held when at
least two-thirds of the members are present; in the case of a three-member
Council, all three members must be present. The Chairperson shall preside over
the meeting to determine the asset value. Any absent member must send a written
explanation to the Chairperson before the meeting, stating the reason for their
absence and providing comments on asset value matters (if any).
b) The Council shall conclude the
asset value based on the majority opinion voted on and approved by the Council
members present. In case of a tie, the opinion of the Chairperson shall
prevail. Council members who do not agree with the Council’s conclusion on the
asset value have the right to reserve their opinion, which shall be recorded in
the Asset Valuation Record.
c) The Council must prepare a
record of the asset valuation, which must fully and accurately reflect the
entire process of asset valuation. The record must be retained in the asset
valuation documentation.
The main contents of the Asset
Valuation Record include: full name of the Chairperson and Council members;
full names of persons attending the valuation meeting; time and place of the
valuation; results of the asset valuation survey; comments of the Council
members and attendees; results of the vote; time and place of completion of the
asset valuation; and the signatures of the Council members.
The Asset Valuation Council
stipulated in this Clause shall cease to operate after completing the tasks
specified in the Decision on its establishment. Any issues arising after the
Council ceases to operate shall be handled by the agency or unit possessing the
asset.
Article 8. Determination of the
original cost of market infrastructure assets in case of changes in the
original cost
When a change in the original cost
of a market infrastructure asset arises in the cases specified in Clause 5 Article
5 and Clause 7 Article 6 of this Circular, the agency or unit assigned to
manage the market infrastructure asset shall prepare a Record stating the
reason (case) for the change in original cost, and shall re-determine the
original cost of the market infrastructure asset as a basis for determining
depreciation, and residual value, in order to adjust the accounting books and
carry out management, depreciation calculation or charging in accordance with
this Circular.
Re-determination of the original
cost of market infrastructure assets in case of changes shall be carried out as
follows:
1. For land use rights specified in
Clause 5 Article 5 of this Circular:
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
b) Where the land area has changed
compared to the area previously used to determine the original cost as
specified in Point b Clause 5 Article 5 of this Circular, the original cost of
the land use right shall be re-determined as follows: Re-determined original
cost = Previously recorded original cost ± Increase or decrease in the value of
the land use right. The increased or decreased value of the land use right
shall be determined in accordance with Article 5 of this Circular.
c) Where there is a change in land
use type according to a decision of a competent state agency as specified in
Point c Clause 5 Article 5 of this Circular, the original cost of the land use
right shall be re-determined in accordance with the new land use type as
prescribed in Article 5 of this Circular.
d) In case the land use right value
is re-assessed during inventory as decided by a competent authority as
prescribed in Point d Clause 5 Article 5 of this Circular, the original cost of
the land use right shall be re-determined based on such decision.
2. For the case specified in Point
a Clause 7 Article 6 of this Circular, the original cost of the market
infrastructure asset shall be re-determined in accordance with the guidance of
the competent authority on inventory and asset revaluation.
3. For the case specified in Point
b Clause 7 Article 6 of this Circular, the original cost of the market
infrastructure asset shall be re-determined as follows:
Re-determined original cost = Current recorded original cost + Value added from
investment in upgrading or expanding the market infrastructure asset. The added
value from upgrading or expanding the asset shall be the final settlement value
approved by the competent authority as prescribed by law. Where the final
settlement has not yet been approved, the managing agency/unit shall record the
added value of the upgraded or expanded asset in the accounting books from the
date of handover and commissioning. The added value recorded in the accounting
books shall be a provisional value, prioritized in the following order:
Verified final settlement value;
Proposed final settlement value;
Settlement value under the contract
between the investor and the contractor (A-B settlement);
Most recently approved or adjusted
cost estimate (in case the project estimate has been adjusted);
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Once the final settlement is
approved by the competent authority, the managing agency/unit shall adjust the
provisional added value in the accounting books in accordance with the approved
settlement value and update accounting records and asset accounting
accordingly.
Where the investment project is
approved by a competent authority for construction, upgrading, or expansion of
other assets (not classified as market infrastructure assets), but includes
investment items for market infrastructure assets, the added value shall be the
investment portion in the market infrastructure asset within the total project
settlement value approved by the competent authority.
4. For the case of dismantling one
or more components of a market infrastructure asset as specified in Point c
Clause 7 Article 6 of this Circular, the original cost shall be re-determined as
follows: Re-determined original cost = Current recorded original cost – Value
of dismantled components + Reasonable expenses directly related to the
dismantling incurred by the managing agency/unit up to the completion of
dismantling.
In which, the value of the
dismantled component of the market infrastructure asset shall be determined as
follows:
a) If records exist identifying the
purchase price, final settlement value, or cost estimate of the dismantled
components, the value of dismantled components shall be determined accordingly.
b) If such records are not
available as stated in Point a, but the original cost can be allocated to the
dismantled components based on appropriate criteria (e.g., constructed area,
quantity, purchase price, cost estimates, etc.), the value shall be determined
based on the allocated amount.
c) If neither Point a nor Point b
applies, and the original cost cannot be allocated to the dismantled
components, the value of the dismantled components shall be the market purchase
price of such components at the time of commissioning.
If the market purchase price of the
dismantled components cannot be determined at the time of commissioning, the
managing agency/unit shall either hire a valuation enterprise to determine the
value in accordance with Vietnamese Valuation Standards, or establish an Asset
Valuation Council in accordance with Article 7 of this Circular to serve as the
basis for determining the value of the dismantled components as a basis for
re-determining the asset’s original cost after dismantling.
5. For the case of installation of
additional components of a market infrastructure asset as specified in Point d
Clause 7 Article 6 of this Circular, the original cost of the market
infrastructure asset shall be re-determined as follows: Re-determined original
cost = Current recorded original cost + Added value from the installation of
additional components + Reasonable expenses directly related to the
installation incurred by the agency or unit assigned to manage the market infrastructure
asset up to the time of completion of installation.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
6. For the case specified in Point
dd Clause 7 Article 6 of this Circular, the agency or unit assigned to manage
the market infrastructure asset shall either engage a valuation enterprise to
provide consultancy on determining the asset’s value in accordance with
Vietnamese Valuation Standards, or establish an Asset Valuation Council as
prescribed in Article 7 of this Circular, as the basis for reassessing the
residual value and remaining useful life of the asset.
Article 9. Principles for
depreciation and amortization of market infrastructure assets
1. Market infrastructure assets
classified as fixed assets and assigned to an agency or unit for management
shall be depreciated in accordance with this Circular, except for the cases
specified in Clauses 2 and 3 of this Article.
2. Market infrastructure assets
subject to depreciation charging include:
a) Assets assigned to public sector
entities that are self-financed in both regular expenditures and investment;
b) Assets assigned to public sector
entities required to incorporate fixed asset depreciation costs into the rental
service prices in accordance with law.
Based on applicable regulations and
the actual situation in each period, and upon the report of the unit assigned
the market infrastructure asset, together with the opinion of the same-level
financial authority and relevant agencies or units (if any), the
provincial-level authority responsible for market infrastructure assets shall
report to the provincial People’s Committee; the district-level authority shall
report to the district-level People’s Committee for review and decision on
allowing the public sector entity to incorporate depreciation costs of the
market infrastructure asset into the service prices under this point.
3. Agencies or units assigned to
manage market infrastructure assets shall not calculate and charge depreciation
in the following cases:
a) The asset for which depreciation
calculation has been completed and depreciation charging has been fully
performed but is irreparably damaged and no longer usable;
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
c) The asset is under a
term-limited transfer of the right to operate;
d) The asset is a land use right.
4. Bases for depreciation calculation
or charging of market infrastructure assets include:
a) The accounting object (a system
of market infrastructure assets or individual assets);
b) The duration and rates for
depreciation calculation and depreciation charging in which:
b1) The duration, rates, and method
for depreciation calculation shall follow the provisions in Article 10 of this
Circular;
b2) The duration, rates, and method
for depreciation charging shall comply with regulations on the management, use,
and depreciation charging of fixed assets applicable to enterprises.
Where depreciation charging at
enterprise-based rates adversely affects the operation of a public sector
entity, based on the actual situation of each period, and upon the report of
the unit assigned the asset, together with the opinion of the same-level
financial authority and relevant agencies or units (if any), the
provincial-level authority shall report to the provincial People’s Committee,
and the district-level authority shall report to the district-level People’s
Committee for review and decision on adjusting the depreciation rate of fixed
assets to ensure service quality and price appropriateness.
c) Accounting periods as prescribed
by current accounting regulations.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
a) Depreciation calculation shall
be conducted once a year in December, before the accounting books are closed.
For assets received by an agency or
unit from another agency, organization, unit, or enterprise under a decision of
a competent authority during the year, depreciation calculation for that year
shall be performed by the receiving agency or unit.
b) Depreciation charging shall be
carried out on a monthly basis. The depreciation expense shall be incorporated
into the service price of the unit.
Article 10. Asset categories,
depreciation calculation period framework, and depreciation calculation rate
1. Where the accounting object is a
system:
No.
Asset
category
Depreciation
calculation period framework (years)
Depreciation
calculation rate framework (%/year)
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Market infrastructure asset
system
10
- 50
2
- 10
2. Where the accounting object is
an individual asset:
No.
Asset
category
Depreciation
calculation period (years)
Depreciation
calculation rate framework (%/year)
I
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
- Grade I, II (under National
Standard TCVN 9211:2012 on markets)
25
4
- Grade III, IV (under National
Standard TCVN 9211:2012 on markets)
15
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
II
Architectural works
Toilets, storage, parking lots,
garbage collection/disposal areas, security rooms, religious spaces, cold
storage
10
10
III
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Transportation infrastructure
10
- 30
3,33
- 10
Water supply and drainage systems
10
- 30
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Electrical systems
5
- 10
10
- 20
Communication systems
5
- 10
10
- 20
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
5
- 10
10
- 20
Ventilation and air conditioning
systems
5
- 10
10
- 20
Fire prevention and firefighting
systems
5
- 10
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Waste collection systems
5
- 10
10
- 20
IV
Other structures within the
market area
5
- 10
10
- 20
3. Based on the project scale,
technical characteristics, and socio-economic conditions of each locality, and
the depreciation calculation period framework specified in Clauses 1 and 2 of
this Article, and upon proposal from the agency or unit managing the market infrastructure
asset and the superior authority (if any), the provincial-level authority shall
report to the provincial People’s Committee, and the district-level authority
shall report to the district People’s Committee for consideration and decision,
or decentralization of the authority to decide the specific depreciation calculation
period and rate for cases where the accounting object is a system (Clause 1) or
individual assets (Clause 2).
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
1. Depreciation calculation method:
a) The annual depreciation amount
of a market infrastructure asset shall be calculated as follows:
Annual
depreciation amount of market infrastructure asset
=
Original
cost of market infrastructure asset
x
Depreciation
rate (% per year)
Where:
- The original cost of the market
infrastructure asset is determined in accordance with Articles 6, 7, and 8 of
this Circular;
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
b) The depreciation charging method
for market infrastructure assets shall comply with regulations on fixed asset
depreciation applicable to enterprises.
2. Cumulative depreciation amount
and depreciation charged:
a) The cumulative depreciation
amount shall be calculated as follows:
Cumulative
depreciation amount up to year (n)
=
Cumulative
depreciation amount to year (n-1)
+
Depreciation
amount for the asset in year (n)
-
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
b) The depreciation charged shall
be calculated as follows:
Depreciation
charged up to accounting period (t)
=
Depreciation
charged to accounting period (t-1)
+
Depreciation
of assets increased in accounting period (t)
-
Depreciation
of assets reduced in accounting period (t)
3. Depreciation and depreciation
charging for the final year or accounting period of the useful life of the
market infrastructure asset:
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Depreciation
for the final year
=
Original
cost of the asset
-
Cumulative
depreciation amount before the final year, as determined in Point a, Clause 2
of this Article.
b) The depreciation charged for the
final accounting period of the asset’s useful life shall be calculated as
follows:
Depreciation
charged for the final accounting period
=
Original
cost of the asset
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
Depreciation
charged up to before the final accounting period, as determined in Point b,
Clause 2 of this Article.
Article 12. Residual value of
market infrastructure assets
1. The residual value of a market
infrastructure asset for accounting purposes shall be calculated according to
the following formula:
Residual
value of the market infrastructure asset as of December 31 of year (n)
=
Original
cost of the asset
-
Cumulative
depreciation amount and depreciation charged as of December 31 of year (n)
2. For fixed assets that have been
revaluated in accordance with this Circular, the revaluated value shall be
considered the residual value of the asset.
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.
IMPLEMENTATION
Article 13. Entry into force
1. This Circular comes into force
as of March 1, 2025 and shall apply from the 2025 financial year.
2. In case the legal normative
documents referred to in this Circular are amended, supplemented, or replaced,
the implementation shall follow the provisions of the amending, supplementing,
or replacing documents.
3. Chairpersons of the People’s
Committees of centrally-run provinces and cities, and heads of relevant
agencies, organizations, and units shall be responsible for directing and
organizing the implementation of the management, depreciation calculation, and
depreciation charging of market infrastructure assets in accordance with this
Circular and relevant legal documents./.
PP.
MINISTER
DEPUTY MINISTER
Bui Van Khang
...
...
...
Hãy đăng nhập hoặc đăng ký Thành viên
Pro tại đây để xem toàn bộ văn bản tiếng Anh.