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MINISTRY OF FINANCE OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No. 22/2025/TT-BTC
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Hanoi, May 9, 2025
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CIRCULAR
REGULATIONS ON MANAGEMENT AND DEPRECIATION OF INLAND WATERWAY
INFRASTRUCTURE ASSETS AND GUIDELINES ON DECLARATIONS AND REPORTS ON INLAND
WATERWAY INFRASTRUCTURE PROPERTY
Pursuant to Decree No.
12/2025/ND-CP dated January 20, 2025 of the Government of Vietnam on the
management, use, and utilization of inland waterway infrastructure assets;
Pursuant to Decree No.
29/2025/ND-CP dated February 24, 2025 of the Government of Vietnam on
functions, tasks, entitlements, and organizational structure of the Ministry of
Finance of Vietnam;
At the request of the
Director of the Department of Public Asset Management;
The Minister of
Finance of Vietnam hereby promulgates the Circular on the regulations on the
management and depreciation of inland waterway infrastructure assets and
guidelines on declarations and reports on inland waterway infrastructure
assets.
Chapter
I
SCOPE AND
REGULATED ENTITIES
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1. This Circular provides
for the regulations on the management and depreciation of inland waterway
infrastructure assets (fixed assets) and guidelines on declarations and reports
on inland waterway infrastructure assets invested in and managed by the State.
2. This Circular does not
provide for:
a) Inland waterway
infrastructure assets prescribed in Clause 2 Article 1 of Decree No. 12/2025/ND-CP
dated January 20, 2025 of the Government of Vietnam.
b) Determination of the
service life of inland waterway infrastructure assets for implementing
investment projects on the construction, upgrade, renovation, expansion, and
maintenance of inland waterway infrastructure assets.
c) Determination of the
value of inland waterway infrastructure assets for leasing out rights to
utilize assets or transferring rights to utilize assets for specific terms;
handling of inland waterway infrastructure assets.
Article
2. Regulated entities
1.
Inland waterway traffic authorities.
2. Inland waterway
management authorities prescribed in Clause 2 Article 2 of Decree No.
12/2025/ND-CP .
3. Authorities assigned
to manage inland waterway infrastructure assets (hereinafter referred to as
“asset management authorities”) prescribed in Clause 3 Article 2 of Decree No.
12/2025/ND-CP .
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5. Other
entities relevant to management and depreciation of inland waterway
infrastructure assets; declaration and report on inland waterway infrastructure
assets.
Chapter
II
GENERAL
REGULATIONS ON MANAGEMENT OF INLAND WATERWAY INFRASTRUCTURE ASSETS
Article
3. Inland waterway infrastructure assets
Inland waterway
infrastructure assets with original costs, residual value, and depreciation
determined under this Circular include:
1. Inland waterway
channels and channel protection corridors.
2. Vessel locks.
3. Works for transporting
vehicles over dams and waterfalls on rivers, canals, and streams.
4. Inland waterway ports.
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6. Anchorages outside
ports.
7. Traffic embankments
and dams.
8. Inland waterway
signaling systems.
9. Auxiliary works and
devices: Inland waterway management stations; AIS stations (automatic
identification system), together with data management, supervision, and
transfer systems; hydrometric gauges or automatic water level monitoring
stations; other auxiliary works and devices.
10. Other inland waterway
infrastructure assets.
Article 4. Standards of inland waterway infrastructure assets
determined as fixed assets
1. Determination of
inland waterway infrastructure assets:
a) Assets used
independently are determined as a single asset.
b) A system with multiple
separate asset components connected with each other to perform one or more
specific functions, where the absence of any component can cause the entire
system to be non-operational, is determined as a single asset.
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2. The inland waterway
infrastructure assets prescribed in Clause 1 of this Article shall be
determined as fixed assets when they meet the following 2 standards:
a) Having an operational
time of 1 year or more.
b) Having an original
cost of 10.000.000 VND or more.
Article
5. Management principles and responsibilities of inland waterway infrastructure
asset management authorities
1. The
inland waterway infrastructure assets prescribed in Articles 3 and 4 of this
Circular shall be made into asset records for strict item and value management
according to the law on the management and use of public assets and relevant
laws. The targets concerning original costs, depreciation, and residual value
of inland waterway infrastructure assets determined as fixed assets shall be
whole numbers; where results of the determination of the mentioned targets are
decimal numbers, they shall be rounded according to accounting laws.
2. Each
inland waterway infrastructure asset prescribed in Article 4 of this Circular
shall be a separate accounting element. The accounting of inland waterway
infrastructure assets shall reflect and record adequate information on the
assets' original costs, depreciation, and residual value.
3. If an
inland waterway infrastructure asset is no longer in use but is not fully
depreciated, its managing authority shall continue to manage, monitor, and
preserve it under current regulations and depreciate it according to this
Circular until it is handled as per regulation.
4. If an
inland waterway infrastructure asset has been fully depreciated but still in
use, its managing authority shall continue to manage, use, monitor, and
preserve it under current regulations without further depreciation.
If an
inland waterway infrastructure asset has been fully depreciated but is subject
to changes to the original cost according to Article 7 of this Circular, it
must be depreciated according to regulations for the remaining operational time
(if any) after the changes to the original cost.
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6. In
case of fixed-term transfer of rights to utilize inland waterway infrastructure
assets, during the transfer period, asset management authorities (transferring
parties) shall:
a)
Inspect and supervise the receiving parties' obligation implementation
according to the laws and contracts for the term-based transfer of asset
utilization rights.
b) Do
not depreciate these assets according to this Circular and continue to monitor
the original costs of assets recorded at the time of the transfer in accounting
logs and monitored in the presentation of financial statements according to
current accounting regulations.
c) Upon
expiration of the fixed-term transfer of rights to utilize inland waterway
infrastructure assets (including cases of premature termination of contracts),
receive the assets under the contracts for the fixed-term transfer of asset
utilization rights and laws; re-determine the original costs and residual value
of assets according to Clause 5 Article 6 and Article 12 of this Circular for
management and depreciation according to Decree No. 12/2025/ND-CP and this
Circular.
7. In
case of using existing inland waterway infrastructure assets to participate in
public-private partnership investment projects, by the deadline for handing
over assets to investors for project implementation, asset management
authorities shall:
a)
Monitor and prepare reports on the asset part permissible to be used for
participation in projects during the handover to investors for project
implementation.
b) Do
not depreciate these assets according to this Circular and continue to monitor
the original costs of assets recorded at the time of the handover to investors
for project implementation and monitored in the presentation of financial
statements according to current accounting regulations.
c) When
investors transfer the assets to competent state authorities, asset management
authorities shall receive the assets as per regulation and re-determine the
residual value of the assets according to Clause 6 Article 6 and Article 12 of this
Circular for management and depreciation according to Decree No. 12/2025/ND-CP
and this Circular.
8.
Authorities managing inland waterway infrastructure assets and organizations
and units prescribed in Clause 4 Article 2 of this Circular shall:
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b)
Annually perform asset inventory; adjust accounting figures if there are
differences during the inventory to ensure the figures on the accounting logs
match the actual figures of the assets.
c)
Prepare declaration reports and reports on the management, use, and utilization
of inland waterway infrastructure assets according to Article 26 of Decree No.
12/2025/ND-CP and this Circular.
Chapter
III
ORIGINAL
COSTS, DEPRECIATION, AND RESIDUAL VALUE OF INLAND WATERWAY INFRASTRUCTURE
ASSETS
Article 6. Determination of original costs of inland waterway
infrastructure assets
1. Any inland waterway
infrastructure asset generated from procurement and put into use from the
effective date of Decree No. 12/2025/ND-CP shall have its original cost
determined according to the following formula:
Original cost of the inland waterway infrastructure asset
generated from procurement
=
Value on the invoice
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Trade discounts, rebates, or seller fines (if any)
+
Transport, loading and unloading, repair, renovation, upgrade,
installation, and testing costs
+
Taxes (excluding deductible and refundable taxes); fees
and charges according to the law on fees and charges (if any)
+
Other costs (if any)
Where:
a) Trade discounts,
rebates, or seller fines (if any) deducted from the value on the invoice may
only be applied if such value includes trade discounts, rebates, or seller
fines.
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2. The original cost of
any inland waterway infrastructure asset generated from construction and put
into use from the effective date of Decree No. 12/2025/ND-CP is the settlement
value approved by competent authorities or persons according to the law.
Special cases:
a) Where inland waterway
infrastructure assets have undergone testing and are in use (due to completion
of the construction), but no settlement is approved by competent authorities or
persons, agencies or units assigned to manage inland waterway infrastructure
assets shall conduct the recording of the asset accounting logs from the
handover date for putting the assets into use. The original costs recorded in
the accounting logs are the provisional original costs. The provisional
original costs in this case shall be selected by the following order of
priority:
- Settlement verification
value.
- Value requested for
settlement approval.
- Value determined under testing minutes A-B between investors and
contractors (A-B settlement).
- Value of total investment, approved project estimate, or project
estimate adjusted recently (in case the project estimate is adjusted).
When competent
authorities or persons approve the settlement, asset management authorities
shall adjust the provisional original costs in the accounting logs based on the
approved settlement value for adjustments to accounting logs and implementation
of asset accounting as per regulation.
b) Where projects include
multiple different items and/or assets (multiple accounting elements) without
separate estimates and/or settlement for each item and/or asset, allocate the
settlement value approved by competent authorities or persons to each item
and/or asset for the recording of accounting logs based on appropriate criteria
(quantity/estimate of each item and/or asset/proportion based on the market
price of the respective asset, etc.).
Where projects include
multiple different items and/or assets (multiple accounting elements) with
separate estimates and without separate settlement for each item and/or asset,
allocate the settlement value approved by competent authorities or persons
based on the ratio prescribed in the detailed estimates to each item and/or
asset for accounting log recording.
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When project settlement
is approved by competent authorities or persons, asset management authorities
shall allocate the settlement value approved by competent authorities or persons
to each item and/or asset for accounting log recording or adjustment (for items
and/or assets recorded in accounting logs) based on appropriate criteria
(quantity/estimate of each item and/or asset/proportion based on the market
price of the respective asset, etc.).
d) Where the settlement
value of projects requires adjustments according to suggestions or conclusions
of competent authorities after inspection or audit, asset management
authorities shall adjust the original costs based on the mentioned suggestions
or conclusions.
dd) Where projects have
content concerning investment in other assets (not the inland waterway
infrastructure assets prescribed in Article 3 of this Circular), exclude the
value of investment in other assets from the settlement value of projects when
determining the original costs of assets.
3. Any inland waterway
infrastructure asset received by asset management authorities under assignment
or transfer decisions of competent authorities or persons from the effective
date of Decree No. 12/2025/ND-CP (excluding the cases prescribed in Point c of
this Clause) shall have its original cost determined according to the following
formula:
Original cost of the assigned or transferred inland
waterway infrastructure asset
=
Original cost in the asset receipt record
+
Transport, loading and unloading, repair, renovation,
upgrade, installation, and testing costs
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Fees and charges according to the law on fees and charges
(if any)
+
Other costs (if any)
Where:
a) The original cost in the
asset receipt record shall be determined as follows:
a1) The original cost in
the asset receipt record of any asset monitored and recorded in the accounting
log is the original cost of the inland waterway infrastructure asset monitored
and recorded in the accounting log of the authority with the assigned or
transferred asset.
Where the asset is yet to
be monitored and/or recorded in the accounting log before requesting the
competent authority or person to decide on the asset assignment or transfer,
the authority with the asset shall reassess its value and remaining useful
life. Where:
- In case the assigned or
transferred asset (inland waterway infrastructure asset assigned to the asset
management authority prescribed in Clause 3 Article 2 of this Circular) is yet
to be monitored and recorded in the accounting log, the reassessment of its
value shall comply with Points a2, a3, and a4 of this Clause.
- Where the assigned or
transferred asset is under the management of entities that are not asset
management authorities according to Clause 3 Article 2 of this Circular, the
reassessment of the asset value shall comply with the law relevant to asset
value reassessment of such entities. Where the relevant law does not stipulate
the reassessment, comply with Points a2, a3, and a4 of this Clause.
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a3) Regarding an inland
waterway infrastructure asset that is yet to be monitored and recorded in the
accounting log without documents determining the purchase price and
construction price according to Point a2 of this Clause, but there are grounds
for determining the time for putting such asset into operation, the purchase
price of new assets of the same type, and the construction price of new assets
with similar technical standards at the time of putting the asset into use, the
original cost in the asset receipt record shall be determined according to the
following formula:
Original cost in the asset receipt record
=
Purchase price of new assets of the same type or
construction price of new assets with similar technical standards at the time
of putting the asset into use
Where:
- The price of new assets
of the same type applicable to assets that are not houses, construction works,
or architectural items shall be the price of new assets of the same type sold
on the market when the asset is put into use.
- The construction price
of new assets with similar technical standards applicable to assets that are
houses, construction works, or architectural items (including houses,
construction works, and architectural items generated from procurement) shall
be determined according to the following formula:
Construction price
=
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x
Construction area and volume/quantity/other criteria (if
any) of the asset
+
Value of other structures associated with works/work
items (ceiling, floor/other criteria (if any)) determined under the
regulations of relevant Ministries (or specific local regulations where the
asset is located) when the asset is put into use
a4) Regarding an inland
waterway infrastructure asset that is yet to be monitored and recorded in the
accounting log without documents determining the purchase price and
construction price according to Point a2 of this Clause and there are no ground
for determining the time for putting such asset into operation, the purchase
price of new assets of the same type, and the construction price of new assets
with similar technical standards at the time of putting the asset into use
according to Point a3 of this Clause, use the conventional price decided by the
competent authority or person as the original cost of the asset.
a5)
Regarding an inland waterway infrastructure asset that is yet to be monitored
and recorded in the accounting log without any ground for determining its
original cost according to Points a2, a3, and a4 of this Clause, the asset
management authority shall hire a valuation enterprise according to the law on
prices to determine the asset value for use as the ground for determining the
original cost in the asset receipt record.
b) Other costs (if any)
refer to reasonable costs concerning the receipt of the assigned or transferred
inland waterway infrastructure asset that the authority receiving such asset
has paid up until the asset is put into use (including the cost of hiring
valuation enterprises to determine the asset value). Where there are general
costs for multiple inland waterway infrastructure assets, allocate the costs to
each asset based on appropriate criteria (quantity/amount/length/area/value of
the assets with incurred general costs/other criteria (if any)).
c) Regarding any existing
inland waterway infrastructure asset assigned to the asset management authority
according to Chapter II of Decree No. 12/2025/ND-CP whose value is yet to be
monitored on the accounting log, after the receipt, the asset management
authority shall cooperate with the agency, organization, or unit
currently/temporarily managing the asset before the assignment (assigning
party) in, based on the origin of the asset and relevant documents, determining
the original cost and residual value of the asset according to respective
regulations prescribed in Points a, b, c, and d Clause 3 Article 9 of Decree
No. 12/2025/ND-CP and Clauses 1 and 2 of this Article and Clause 2 Article 15
of this Circular.
4. Depending on the
origin and time of use, the original cost of an inland waterway infrastructure
asset considered excessive during its use for inventory shall be determined
according to Clauses 1, 2, and 3 of this Article.
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6. Regarding an inland
waterway infrastructure asset received by the asset management authority after
the period for participation in public-private partnership investment projects
prescribed in Point c Clause 7 Article 5 of this Circular, the asset management
authority shall hire a valuation enterprise to reassess the asset’s residual
value.
Article
7. Cases of changes (adjustments) to original costs of inland waterway
infrastructure assets
1. Reassessment of the
value of inland waterway infrastructure assets when carrying out the inventory
according to the Prime Minister of Vietnam’s decisions.
2. Investment in the
upgrade and expansion of inland waterway infrastructure assets according to
projects approved by competent authorities or persons (including cases of
projects on investment in the construction, upgrade, renovation, and expansion
of other assets containing investment in existing inland waterway
infrastructure assets and cases where investors of projects on investment in
the upgrade, renovation, and expansion of assets are not asset management
authorities).
3. Dismantlement of one
of several parts of inland waterway infrastructure assets (in cases where the
value of the asset parts to be dismantled is recorded in the asset's original
cost), excluding cases of dismantlement for replacement while maintaining
works.
4. Installation of one or
several parts of inland waterway infrastructure assets, excluding cases of
installation for replacement while maintaining works.
5. Inland waterway
infrastructure assets have a missing part or severe damage due to natural
disasters, force majeure, or other irregular impacts (excluding cases where the
assets have their issues remedied according to the law on the maintenance of
inland waterways or restored through insurance or compensation from relevant
organizations and individuals).
Article
8. Determination of original costs of inland waterway infrastructure assets in
case of changes to original costs
Upon changes to the
original costs of inland waterway infrastructure assets in the cases prescribed
in Article 7 of this Circular, asset management authorities shall prepare
minutes specifying the reasons (cases) for changes to the original costs while
re-determining the original cost targets of inland waterway infrastructure
assets for use as the grounds for determining the depreciation and residual
value of the assets to revise the accounting logs and conduct management and
depreciation according to this Circular.
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1. Regarding the case
prescribed in Clause 1 Article 7 of this Circular, the original cost of the
inland waterway infrastructure asset shall be re-determined under the
guidelines on asset inventory and reassessment of the competent authority or
person.
2. Regarding the case
prescribed in Clause 2 Article 7 of this Circular, the original cost of the
inland waterway infrastructure asset shall be determined by the original cost
subject to recording plus the increased value due to investment in the upgrade
and expansion of the inland waterway infrastructure asset approved by the
competent authority or person. Specifically, the increased value due to upgrade
and expansion according to projects approved by the competent authority or
person shall be determined according to Clause 2 Article 6 of this Circular.
Where the project
approved by the competent authority or person for investment in the upgrade,
renovation, and expansion of other assets contain investment in an existing
inland waterway infrastructure asset and the investor of the project on investment
in the upgrade, renovation, and expansion of assets is not an asset management
authority, the increased value due to the upgrade, renovation, and expansion of
the inland waterway infrastructure asset is the investment in the inland
waterway infrastructure included in the settlement value of the project
approved by the competent authority or person.
3. In case of dismantling
one or more inland waterway infrastructure asset parts according to Clause 3
Article 7 of this Circular, the original cost of the inland waterway
infrastructure asset shall be re-determined by the original cost subject to
recording minus the value of the dismantled inland waterway infrastructure
asset part plus the reasonable cost relevant to the dismantlement paid by the
asset management authority by the completion of the dismantlement, excluding
the dismantlement of one or more inland waterway infrastructure assets for
replacement while maintaining works of inland waterway infrastructure assets.
Specifically, the value
of the dismantled inland waterway infrastructure asset part shall be determined
as follows:
a) Where there are
documents determining the purchase price and/or settlement price/estimate price
of the dismantled inland waterway infrastructure asset part, the value of the
dismantled asset part shall be determined based on its purchase price and/or
settlement price/estimate price.
b) Where there are no
documents prescribed in Point a of this Clause, but it is possible to allocate
the original cost of the inland waterway infrastructure asset to the dismantled
asset part according to appropriate criteria (quantity, amount, purchase price,
estimate, etc.), the value of the dismantled inland waterway infrastructure
asset part shall be determined according to the allocated value.
c) Where there are no
documents prescribed in Point a of this Clause and it is impossible to allocate
the original cost of the inland waterway infrastructure asset to the dismantled
asset according to Point b of this Clause, determine the value of the
dismantled asset part as the new purchase price of such part on the market at
the time of putting the asset into use.
Where it is impossible to
determine the new purchase price of the dismantled inland waterway
infrastructure asset part on the market at the time of putting the asset into
use, the asset management authority shall hire a valuation enterprise according
to the law on prices to determine the value of the dismantled inland waterway
infrastructure asset part for use as the ground for determining the original
cost of the asset after the dismantlement.
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Specifically, the
increased value due to the installation of one or more inland waterway
infrastructure asset parts is the corresponding value of the installed inland
waterway infrastructure asset part determined according to the respective cases
prescribed in Article 6 of this Circular.
5. Regarding the case
prescribed in Clause 5 Article 7 of this Circular, the asset management
authority shall hire a valuation enterprise to reassess the residual value and
the remaining useful life of the asset in conformity with Article 10 of this
Circular (for damaged assets) for inclusion in the minutes on the determination
of the changes to the original cost. The original cost of the inland waterway
infrastructure asset in this case shall be determined as follows:
Original cost of the inland waterway infrastructure asset
=
Residual value of the asset according to the reassessment
x
Useful life of the asset according to Article 10 of this
Circular (year)
Remaining useful life of the asset according to the
reassessment (year)
Article
9. Depreciation principles of inland waterway infrastructure assets
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2. Asset
management authorities are not required to depreciate:
a)
Inland waterway infrastructure assets that are not fully depreciated but
damaged to the point of being unrepairable.
b)
Inland waterway infrastructure assets that are fully depreciated but still
usable.
c)
Inland waterway infrastructure assets that are currently subject to fixed-term
transfer of utilization rights.
3. Depreciation of inland
waterway infrastructure assets shall be carried out once a year in December,
before the cut-off date of the accounting logs.
Article
10. List of inland waterway infrastructure assets and operational time for
depreciation and depreciation percentage
1. The list of inland
waterway infrastructure assets, useful life, and depreciation percentage
(excluding the useful life of assets for the cases prescribed in Clauses 2, 3,
and 4 of this Article) is as follows:
No.
List of types of inland waterway infrastructure assets
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Depreciation percentage (% year)
1
Inland waterway
channels and channel protection corridors
Exempted from depreciation
2
Vessel locks
40
2,5
3
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25
4
4
Inland waterway ports
25
4
5
Inland waterway wharves
10
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6
Anchorages outside
ports
6.1
Anchorage waters
Exempted from depreciation
6.2
Systems of mooring buoys
and bollards
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10
7
Traffic embankments and
dams
15
6,67
8
Inland waterway
signaling systems
10
10
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Auxiliary works and
devices
9.1
Inland waterway
management stations
20
5
9.2
AIS stations and data management,
supervision, and transfer systems
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10
9.3
Hydrometric gauges or
automatic water level monitoring stations
10
10
9.4
Other auxiliary works
and devices
5
20
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Other inland waterway
infrastructure assets
10
10
2. Regarding inland waterway
infrastructure assets used in areas where the weather or the environment
affects the depreciation, in cases where it is necessary to stipulate
regulations on operational time for depreciation and depreciation percentage of
the fixed assets that are different from Article 10 of this Circular, the
provincial People’s Committees shall provide elaboration.
3. Regarding inland
waterway infrastructure assets with changes to their original costs subject to
cases of investment in the upgrade and expansion of fixed assets according to
projects approved by competent authorities or persons prescribed in Clause 2
Article 7 of this Circular, the useful life of the assets equals the time when
the assets are fully depreciated before changes to the original costs plus the
remaining useful life of the assets after the upgrade and expansion.
Specifically, the remaining useful life of the assets after the upgrade and
expansion shall be determined according to the following formula:
Remaining useful life of the asset after the upgrade and
expansion
=
Original cost of the asset after changes
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:
Annual depreciation of the asset from the year of changes
to the determination principles according to Clause 1 Article 11 of this
Circular
4. Regarding assets with
changes to the original costs subject to cases of losing a part or suffering
from severe damage due to natural disasters, force majeure, or other irregular
impacts according to Clause 5 Article 7 of this Circular, the useful life of
the assets equals the time when the assets are depreciated before changes to
the original costs plus the remaining useful life of the assets according to the
reassessment.
5. Regarding assets with
adjustments or changes to the original costs according to Points a and d Clause
2 Article 6 and Clauses 3 and 4 Article 7 of this Circular:
a) Where the year of adjustments
or changes to the original costs occurs within the useful life of the assets
according to regulations, the useful life of the assets shall be calculated up
to the year when the residual value of the assets by December 31 of the
preceding year is lower than or equal to the annual depreciation of the assets.
b) Where the year of
adjustments or changes to the original costs occurs after the useful life of
the assets according to regulations, add 1 year to the useful life of the
assets (the year when adjustments or changes to the original costs occur) to
handle the increased or decreased value due to adjustments or changes to the
original costs.
Article
11. Depreciation methods of inland waterway infrastructure assets
1. The annual
depreciation of each inland waterway infrastructure asset shall be calculated
according to the following formula:
Annual depreciation of the asset
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Original cost of the asset
x
Depreciation percentage (% year)
Where:
a) The original cost of
the inland waterway infrastructure asset shall be determined according to
Articles 6 and 8 of this Circular.
b) The depreciation
percentage shall be determined according to Clauses 1 and 2 Article 10 of this
Circular.
2. Regarding inland
waterway infrastructure assets prescribed in Clause 3 Article 6 of this
Circular that are yet to be monitored and recorded in the accounting logs and
inland water way infrastructure assets prescribed in Clause 4 Article 6 of this
Circular, the annual depreciation of such assets after the first year of
recording in the accounting logs at asset management authorities shall be
determined following the formula prescribed in Clause 1 of this Article.
Regarding the first year
of accounting log recording at asset management authorities (the year when the asset
management authorities receive the assets or the year of implementing inventory
and detecting the excessiveness), the depreciation of assets shall be
calculated according to the following formula:
Depreciation of the first year of accounting log recording
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Annual depreciation of the asset, determined following
the formula prescribed in Clause 1 of this Article
x
Useful life of assets of the same type according to
Clause 1 Article 10 of this Circular (year)
-
Remaining useful life of the asset according to
regulations, or remaining useful life of the asset according to the
reassessment (year)
3. The accumulated
depreciation of each inland waterway infrastructure asset shall be calculated
according to the following formula:
Accumulated depreciation by December 31 of year (n)
=
Accumulated depreciation by December 31 of year (n-1)
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Increased depreciation of the asset in year (n)
-
Decreased depreciation of the asset in year (n)
4. The asset depreciation
for the final year of the useful life of the inland waterway infrastructure
asset shall be equal to the original cost minus the accumulated depreciation of
the asset, determined according to Clause 3 of this Article.
Article
12. Residual value of inland waterway infrastructure assets
The residual value of an
inland waterway infrastructure asset for accounting log recording shall be
determined according to the following formula:
Residual value of the asset by December 31 of year (n)
=
Original cost of the asset
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Accumulated depreciation by December 31 of year (n)
Regarding inland waterway
infrastructure assets subject to asset value reassessment according to Clause 6
Article 6 and Clause 5 Article 8 of this Circular, the residual value after the
reassessment shall be the residual value according to the reassessment.
Chapter
IV
DECLARATIONS AND REPORTS ON
ROAD TRAFFIC INFRASTRUCTURE ASSETS
Article
13. Forms of initial declaration reports and additional declaration reports on
inland waterway infrastructure assets
Forms of declaration
reports on inland waterway infrastructure assets prescribed in Clause 2 Article
26 of Decree No. 12/2025/ND-CP are as follows:
1.
Initial declaration reports following Form No. 01A in the Appendix enclosed
with this Circular apply to:
Existing
inland waterway infrastructure assets when Decree No. 12/2025/ND-CP comes into
force (including assets that have undergone the initial declaration report
according to Decree No. 45/2018/ND-CP dated
March 13, 2018 of the Government of Vietnam);
Inland
waterway infrastructure assets generated from the effective date of Decree No.
12/2025/ND-CP onwards.
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Article
14. Forms of reports on management, use, and utilization of inland waterway
infrastructure assets
Forms of reports on the
management, use, and utilization of inland waterway infrastructure assets
prescribed in Clause 5 Article 26 of Decree No. 12/2025/ND-CP are as follows:
1.
Reports on the utilization of inland waterway infrastructure assets according
to the methods prescribed in Articles 13, 14, and 15 of Decree No.
12/2025/ND-CP , following Form No. 01D in the Appendix enclosed with this
Circular.
2.
Reports on the summary of the management and use of inland waterway
infrastructure assets following Form No. 02A in the Appendix enclosed with this
Circular.
3.
Reports on the summary of the utilization of inland waterway infrastructure
assets following Form No. 02B in the Appendix enclosed with this Circular.
Chapter
V
IMPLEMENTATION
Article
15. Transitional provisions
1. Regarding inland
waterway infrastructure assets existing before the effective date of Decree No.
12/2025/ND-CP , with value determined for accounting log recording according to
Decree No. 45/2018/ND-CP and the guiding Circulars of the Ministry of Finance
of Vietnam, use the determined value for accounting log recording.
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3. Regarding
inland waterway infrastructure assets monitored on accounting logs of asset
management authorities before the effective date of this Circular and the time
for depreciation and depreciation percentage determination prescribed in Clause
1 Article 10 of this Circular changed compared to those prescribed in the
Appendix enclosed with Circular No. 75/2018/TT-BTC , determine the annual
depreciation of the assets after the 2025 fiscal year as follows:
Annual depreciation of the asset
=
Residual value of the asset by December 31, 2024
according to the accounting log
Remaining useful life of the asset (year)
Where:
Remaining useful life of the asset (year)
=
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-
Operational time of the asset (year)
The useful life of assets
of the same type shall be determined according to Clause 1 Article 10 of this
Circular.
Particularly, the asset
depreciation for the final year within the useful life of the assets shall be
determined by the original costs minus the accumulated depreciation of such
assets.
Where the useful life of
assets has expired according to regulations but the assets still have residual
value, the depreciation of 2025 shall equal the residual value of the assets by
December 31, 2024.
Article
16. Entry into force and implementation responsibilities
1. This Circular comes into
force as of June 25, 2025 and is applicable from the 2025 fiscal year.
2. Content concerning
regulations on the management and depreciation of inland waterway
infrastructure assets in Articles and Appendices of Circular No. 75/2018/TT-BTC
dated August 17, 2018 of the Minister of Finance of Vietnam shall cease to have
effect from the effective date of this Circular.
3. Where any legislative
document cited in this Circular is amended or replaced, comply with its new
edition.
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PP. MINISTER
DEPUTY MINISTER
Bui Van Khang