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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. 72/2025/TT-BTC
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Hanoi, July 02, 2025
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CIRCULAR
MANAGEMENT, CALCULATION OF DEPRECIATION OF MARITIME INFRASTRUCTURE
ASSETS AND GUIDANCE ON DECLARATION AND REPORT ON MARITIME INFRASTRUCTURE ASSETS
Pursuant to the
Government’s Decree No. 84/2025/ND-CP dated April 04, 2025 on management, use,
and operation of maritime infrastructure assets;
Pursuant to the Government's
Decree No. 29/2025/ND-CP dated February 24, 2025 on functions, duties, powers
and organizational structure of the Ministry of Finance; the Government's
Decree No. 166/2025/ND-CP dated June 30, 2025 on amendments to the Government's
Decree No. 29/2025/ND-CP dated February 24, 2025;
At the request of the
Director of Agency of Public Asset Management;
The Minister of
Finance promulgates Circular on management, calculation of depreciation of
maritime infrastructure assets and guidance on declaration and report on
maritime infrastructure assets.
Chapter
I
SCOPE AND
REGULATED ENTITIES
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1. This Circular provides
for management, calculation of depreciation of maritime infrastructure assets
that are fixed assets and guidance on declaration and report on maritime
infrastructure assets invested and managed by the State.
2. This Circular does not
apply to:
a) Maritime
infrastructure assets specified in clause 2 Article 1 of the Government’s
Decree No. 84/2025/ND-CP dated April 04, 2025.
b) Determination of
service life of maritime infrastructure assets for execution of projects on
investment in construction, upgradation, renovation, expansion, and maintenance
of maritime infrastructure assets.
c) Determination of value
of maritime infrastructure assets for leasing of rights to operate assets or
transfer of rights to operate assets for specific terms; disposal of maritime
infrastructure assets.
Article
2. Regulated entities
1. Maritime authorities.
2. Maritime management
authorities, including central and local maritime management authorities
specified in clause 2 Article 2 of the Government’s Decree No. 84/2025/ND-CP.
3. Authorities assigned
to manage maritime infrastructure assets specified in point a clause 2 Article
2 of the Government’s Decree No. 84/2025/ND-CP (hereinafter referred to as
“central asset management authorities”), point b clause 2 Article 2 of the
Government’s Decree No. 84/2025/ND-CP (hereinafter referred to as “local asset
management authorities”).
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Chapter
II
GENERAL
PROVISIONS ON MANAGEMENT OF MARITIME INFRASTRUCTURE ASSETS
Article
3. Maritime infrastructure assets
Maritime infrastructure
assets that have their original costs, residual value, and depreciation
determined under this Circular include:
1. Terminals, floating
terminals.
2. Offices, service
facilities, warehouses, depots, buildings and other auxiliary works in terminal
areas.
3. Traffic information
system, communication system, electricity and water system in terminal areas.
4. Vessel traffic service
(VTS) system.
5. Breakwaters, sand
breaks, flow-redirecting revetments, bank-protecting revetments.
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7. Portage areas,
anchorage, storm shelters in seaport waters;
8. Other maritime
infrastructure assets.
Article
4. Standards applicable to maritime infrastructure assets determined as fixed
assets
1. Maritime
infrastructure assets shall be determined as follows:
a) Assets used
independently are determined as a single asset.
b) A system that consists
of 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.
c) Where a system is
assigned to multiple management authorities, the part assigned to each authority
is a single asset.
2. Maritime
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 at least 1 year.
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Article
5. Management principles and responsibilities of maritime infrastructure asset
management authorities
1. Maritime 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 management
and use of public assets and relevant laws. Targets concerning original costs,
depreciation, and residual value of maritime infrastructure assets
determined as fixed assets shall be integers; where results of the
determination of the mentioned targets are decimal numbers, they shall be
rounded according to the accounting law.
2. Each maritime
infrastructure asset prescribed in Article 4 of this Circular shall be a
separate accounting element. The accounting of maritime infrastructure assets
shall reflect and record adequate information on the assets' original costs,
depreciation, and residual value.
3. If a maritime
infrastructure asset is no longer in use but is not fully depreciated according
to regulations, its management authority shall continue to manage, monitor, and
preserve it under current regulations and depreciate it according to this
Circular until it is disposed as per regulation.
4. If a maritime
infrastructure asset has been fully depreciated but is still in use, its
management authority shall continue to manage, use, monitor, and preserve it
under current regulations without further depreciation.
If a maritime
infrastructure asset has been fully depreciated but has its original cost
changed according to Article 7 of this Circular, it must be depreciated
according to regulations for the remaining operational time (if any) after the
original cost is changed.
5. In case of leasing of
rights to operate maritime infrastructure assets, asset management authorities
shall continue to manage, monitor, and depreciate such assets according to this
Circular during the lease period.
6. In case of fixed-term
transfer of rights to operate maritime infrastructure assets, during the transfer
period, asset management authorities (transferors) shall:
a) Inspect and supervise
transferees’ fulfillment of their obligations according to the laws and
contracts for the term-based transfer of asset operation rights.
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c) Upon expiration of the
fixed-term transfer of rights to operate maritime infrastructure assets
(including premature termination of contracts), receive the assets under the
contracts for the fixed-term transfer of asset operation 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. 84/2025/ND-CP and this Circular.
7. In case of use of
existing maritime infrastructure assets for participation in public-private
partnership investment projects, by the deadline for handover of assets to
investors for implementation of projects, 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 implementation of projects.
b) 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 implementation of projects 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.
84/2025/ND-CP and this Circular.
8. Authorities managing
assets and organizations and units prescribed in clause 4 Article 2 of this
Circular shall:
a) Do accounting for all
assigned maritime infrastructure assets according to current accounting
regulations; prepare reports on increase, decrease, and depreciation of
maritime infrastructure assets according to the law; ensure that maritime
infrastructure asset data included in accounting logs are consistent with the
reported data on the maritime infrastructure asset database system. If such
data are different, they must be accurately updated accordingly.
b) Annually make asset
inventory; take a general inventory of assets according to competent
authorities or persons’ decisions; adjust accounting figures if there are
differences during the inventory to ensure that the figures on the accounting
logs match the actual figures of the fixed assets.
c) Prepare declaration
reports and reports on management, use, and operation of maritime
infrastructure assets according to Article 27 of the Decree No. 12/2025/ND-CP
and this Circular.
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ORIGINAL
COSTS, DEPRECIATION, AND RESIDUAL VALUE OF MARITIME INFRASTRUCTURE ASSETS
Article
6. Determination of original costs of maritime infrastructure assets
1. Any maritime infrastructure
asset generated from procurement and put into use from the effective date of
the Decree No. 84/2025/ND-CP shall have its original cost determined according
to the following formula:
Original cost of the maritime infrastructure asset
generated from procurement
=
Value on the invoice
-
Trade discounts, rebates, or seller fines (if any)
+
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+
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.
b) Other costs (if any) refer
to reasonable costs relevant to the procurement of the maritime infrastructure
asset that the authority has paid up to the point when such asset is put into
use. Where there are general costs for multiple maritime infrastructure
assets, the costs shall be allocated to each maritime infrastructure
asset on the basis of appropriate criteria (quantity/amount/length/area/value
on invoices of maritime infrastructure assets with incurred general
costs, etc.).
2. The original cost of
any maritime infrastructure asset generated from construction and put
into use from the effective date of Decree No. 84/2025/ND-CP is the settlement
value approved by competent authorities or persons according to the law.
Special cases:
a) Where maritime infrastructure
assets have undergone testing and are in use (due to completion of the
construction investment), but no settlement is approved by competent
authorities or persons, asset management authorities 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:
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- Value requested
for approval of settlement.
- Total contract value
determined according to cost settlement of the corresponding maritime infrastructure
assets between investors and contractors (A-B settlement).
- Value of total
investment approved or adjusted recently;
- Value of project
estimate approved or 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 on the basis of the approved
settlement value for adjustments to accounting logs and implementation of asset
accounting as per regulations.
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, the settlement
value approved by competent authorities or persons shall be allocated to each
item and/or asset for recording accounting logs on the basis appropriate
criteria (quantity, specific estimate, 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,
the settlement value approved by competent authorities or persons shall be
allocated on the basis of the ratio prescribed in the detailed estimate to each
item and/or asset for recording the accounting log.
c) Where projects include
multiple different items and/or assets (multiple accounting elements) subject
to investment and/or testing by each item and/or asset, items and/or assets
that have been constructed or undergone testing for being put into use shall be
recorded in accounting logs from the handover date for being put into use. The
original costs recorded in accounting logs shall be the provisional original
costs prescribed in point a of this clause.
When the 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 to record or adjust the accounting log
(for items and/or assets recorded in accounting logs) on the basis of
appropriate criteria (quantity, specific estimate, etc.).
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dd) Where projects have contents
concerning investment in other assets (not maritime infrastructure assets
prescribed in Article 3 of this Circular), the value of investment in other
assets shall be excluded from the project settlement value when determining the
original costs of assets.
3. Any maritime
infrastructure asset received by asset management authorities under assignment
or transfer decisions issued by competent authorities or persons from the
effective date of Decree No. 84/2025/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 maritime
infrastructure asset
=
Original cost in the asset handover/receipt record
+
Transport, loading and unloading, repair, renovation,
upgrade, installation, and testing costs
+
Fees and charges according to the law on fees and charges
(if any)
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Other costs (if any)
Where:
a) The original cost in
the asset handover/receipt record shall be determined as follows:
a1) The original cost in
the asset handover/receipt record of any asset monitored and recorded in the
accounting log is the original cost of the maritime infrastructure asset
monitored and recorded in the accounting log of the authority that has 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 the asset assignment or transfer, the
authority that has the asset shall re-assess its value and remaining useful
life. Where:
- In case the assigned or
transferred asset (maritime 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 re-assessment of its
value shall comply with points a2, a3, and a4 of this clause.
- Where the assigned or
transferred asset is managed by an entity that is not an asset management
authority according to clause 3 Article 2 of this Circular, the re-assessment
of the asset value shall comply with the law relevant to asset value
re-assessment by such entities. Where the relevant law does not stipulate the
reassessment, regulations in points a2, a3, and a4 of this clause shall be
complied with.
a2) Any maritime
infrastructure asset that is yet to be monitored and recorded in the accounting
log with a document determining the purchase price or the construction price,
and the time for putting such asset into use shall have its original cost in
the asset handover/receipt record determined under clauses 1 and 2 of this
Article.
a3) In case a maritime
infrastructure asset is yet to be monitored and recorded in the accounting log
without a document determining the purchase price or construction price according
to point a2 of this clause but there are grounds to determine the time for
putting such asset into use and the purchase price of new assets of the same
type, or 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
handover/receipt record shall be determined according to the following formula:
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=
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
=
Unit price of the construction of new assets with similar
technical standards promulgated by relevant Ministries (or following specific
regulations issued by local governments of provinces/communes where the asset
is located), applicable when the asset is put into use
x
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+
Value of other structures associated with works/work
items (including ceiling, floor/other criteria (if any)) determined under the
regulations of relevant Ministries (or specific regulations issued by local
governments of provinces/communes where the asset is located) when the
asset is put into use
a4) In case a maritime
infrastructure asset is yet to be monitored and recorded in the accounting log
without a document determining the purchase price or construction price
according to point a2 of this clause and there are no ground for determining
the time for putting such asset into operation and the purchase price of new
assets of the same type, or 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, the conventional price decided by the competent
authority or person shall be used as the original cost of the asset.
a5) Regarding a maritime
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 to serve as the ground for determination of the original cost in the
asset handover/receipt record.
b) Other costs (if any)
refer to reasonable costs concerning the receipt of the assigned or transferred
maritime infrastructure asset that the authority receiving such asset has paid
up until the asset is put into use. Where there are general costs for multiple
maritime infrastructure assets, the costs shall be allocated to each asset on
the basis of appropriate criteria (quantity/amount/length/area/value of the
assets with incurred general costs/other criteria (if any)).
c) Regarding any existing
maritime infrastructure asset assigned to the asset management authority
according to Chapter II of the Decree No. 84/2025/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, on the basis of 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 the Decree No. 84/2025/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 a maritime infrastructure asset
considered excessive during its use for inventory shall be determined according
to clauses 1, 2, and 3 of this Article.
5. Regarding any maritime
infrastructure asset received by the asset management authority after the term
of the term-based transfer of asset operation rights according to point c
clause 6 Article 5 of this Circular expires, the original cost of such the mentioned
asset shall be re-determined by the recorded original cost at the time of the
transfer according to the contract for the term-based transfer of asset
operation rights plus the investment in the upgradation and expansion according
to the project approved by a competent authority or person (including clearing
of the value of the dismantled asset parts (if any)); specifically, the
increased value due to investment in the upgradation and expansion according to
the project approved by the competent authority or person shall be determined
according to point a clause 2 of this Article.
6. Regarding a maritime
infrastructure asset received by the asset management authority after the
period for participation in a public-private partnership investment project
prescribed in point c clause 7 Article 5 of this Circular expires, its original
cost is value of the asset invested in the form of public-private partnership
according to the Government’s regulations on jurisdiction and procedures for
establishment of all-people ownership of assets and disposal of assets under
established all-people ownership and the asset management authority shall hire
a valuation enterprise to re-assess the asset’s residual value in case the
all-people ownership is not required to be established.
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1. Reassessment of the
value of maritime infrastructure assets when carrying out the inventory
according to decisions issued by the Prime Minister.
2. Investment in
upgradation, renovation and expansion of maritime infrastructure assets
according to projects approved by competent authorities or persons (including
cases of projects on investment in construction, upgradation, renovation, and
expansion of other assets containing investment in existing maritime
infrastructure assets and cases where investors in projects on investment in
upgradation, renovation, and expansion of assets are not asset management
authorities).
3. Dismantlement of one
of several parts of maritime infrastructure assets (in case 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 maritime infrastructure assets, except for cases of
installation for replacement while maintaining works.
5. Missing part of or
severe damage to maritime infrastructure assets due to natural disasters, force
majeure, or other irregular impacts (except for cases where the assets have
their issues remedied according to the law on maritime maintenance or are
restored through insurance or compensation from relevant organizations and
individuals).
Article
8. Determination of original costs of maritime infrastructure assets in case of changes to original costs
Upon changes to the
original costs of maritime infrastructure assets in the cases prescribed in
Article 7 of this Circular, asset management authorities shall prepare records
specifying the reasons (cases) for changes to the original costs while
re-determining the original cost targets of maritime infrastructure assets for
use as the grounds for determination of the depreciation and residual value of
the assets to revise the accounting logs and conduct management and
depreciation according to this Circular.
The redetermination of
the original costs of maritime infrastructure assets for cases of changes to
the original costs prescribed in Article 7 of this Circular shall be carried
out as follows:
1. Regarding the case
prescribed in clause 1 Article 7 of this Circular, the original cost of the
maritime infrastructure asset shall be re-determined according to guidelines
given by the competent authority or person for asset inventory and reassessment.
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Where the project
approved by the competent authority or person for investment in upgradation,
renovation, and expansion of other assets contains investment in an existing
maritime infrastructure asset and the investor in the project on investment in
upgradation, renovation, and expansion of assets is not an asset management
authority, the increased value due to upgradation, renovation, and expansion of
the maritime infrastructure asset is the investment in the maritime
infrastructure included in the settlement value of the project approved by the
competent authority or person.
3. In case of
dismantlement of one or more maritime infrastructure asset parts according to
clause 3 Article 7 of this Circular, the original cost of the maritime
infrastructure asset shall be re-determined by the original cost that is being
recorded minus the value of the dismantled maritime infrastructure asset part
plus the reasonable cost relevant to the dismantlement paid by the asset
management authority by the completion of the dismantlement, except for the
dismantlement of one or more maritime infrastructure assets for replacement
while maintaining works of maritime infrastructure assets.
Specifically, the value
of the dismantled maritime 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 maritime infrastructure asset part, the value of the
dismantled asset part shall be determined on the basis of 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 maritime infrastructure asset to the dismantled asset
part according to appropriate criteria (quantity, amount, purchase price,
estimate, etc.), the value of the dismantled maritime 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 maritime infrastructure asset to the dismantled asset
according to point b of this Clause, the value of the dismantled asset part
shall be determined 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 maritime 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 maritime infrastructure asset
part to serve as the ground for determining the original cost of the asset
after the dismantlement.
4. In case of
installation of one or more maritime infrastructure asset parts according to
clause 4 Article 7 of this Circular, the original cost of the maritime
infrastructure asset shall be re-determined by the original cost that is being
recorded plus the increased value due to the installation of one or more
maritime infrastructure asset parts plus the reasonable cost relevant to the
installation paid by the competent authority by the completion of the
installation, except for the installation of one or more maritime
infrastructure asset parts for maintenance of works of the maritime
infrastructure asset.
Specifically, the
increased value due to the installation of one or more maritime infrastructure
asset parts is the corresponding value of the installed maritime infrastructure
asset part determined according to the respective cases prescribed in Article 6
of this Circular.
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Original cost of the maritime 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. Principles of depreciation of maritime infrastructure assets
1. Maritime infrastructure
assets (determined as fixed assets according to Articles 3 and 4 of this
Circular) assigned to asset management authorities shall undergo depreciation
according to this Circular, except for the cases prescribed in clause 2 of this
Article.
2. Asset management
authorities are not required to depreciate:
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b) Maritime
infrastructure assets that are fully depreciated but still usable.
c) Maritime
infrastructure assets that are currently subject to fixed-term transfer of
operation rights.
d) Maritime
infrastructure assets during the period of participation in public-private
partnership projects.
3. Depreciation of
maritime infrastructure assets shall be carried out once a year in December 31,
before the cut-off date of the accounting logs.
Article
10. List of maritime infrastructure assets and operational time for
depreciation and depreciation percentage
1. The list of maritime
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) are prescribed as follows:
NO.
List of types of maritime infrastructure assets
Operational time for depreciation (year)
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1
Terminals
50
2
2
Floating terminals
20
5
3
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- Level I
80
1,25
- Level II
50
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- Level III
25
4
- Level IV
15
6,67
4
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25
4
5
Traffic information
system, communication system, electricity and water system in terminal areas
10
10
6
Stations and
architectural items (operation houses, construction works) directly serving the
operation of vessel traffic service (VTS) system
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- Level I
80
1,25
- Level II
50
2
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25
4
- Level IV
15
6,67
7
Breakwaters, sand
breaks, flow-redirecting revetments, bank-protecting revetments.
...
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- Level I
80
1,25
- Level II
50
2
...
...
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25
4
- Level IV
15
6,67
8
Navigation channels,
pilot boarding areas, phytosanitary inspection area.
50
...
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9
Portage areas,
anchorage, storm shelters in seaport waters
50
2
10
Other maritime
infrastructure assets.
10
10
2. Regarding maritime
infrastructure assets used in areas where the weather or the environment
affects the depreciation, if necessary to stipulate regulations on operational
time for depreciation and depreciation percentage of the fixed assets that are
different from those of Article 10 of this Circular, the Minister of
Construction and provincial People’s Committees shall provide elaboration. The
adjustment to the depreciation percentage of these assets must not exceed 20%
of the percentage specified in clause 1 of this Article.
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Remaining useful life of the asset after the upgradation
and expansion
=
Original cost of the asset after changes
-
Accumulated depreciation of the asset by December 31 of
the year of changes to the original cost
:
Annual depreciation of the asset from the year of changes
to the original cost determined according to clause 1 Article 11 of this
Circular
4. Regarding assets that
have their original costs changed in case 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 that
have their original costs adjusted or changed according to points a and d clause
2 Article 6 and clauses 3 and 4 Article 7 of this Circular:
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b) Where the year of
adjustments or changes to the original costs occurs after the useful life of
the assets according to regulations, 1 year shall be added 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. Methods for depreciation of maritime infrastructure assets
1. The annual
depreciation of each maritime infrastructure asset shall be calculated
according to the following formula:
Annual depreciation of the asset
=
Original cost of the asset
x
Depreciation percentage (% year)
Where:
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b) The depreciation
percentage shall be determined according to clauses 1 and 2 Article 10 of this Circular.
2. Regarding maritime
infrastructure assets that are assigned or transferred as prescribed in clause
3 Article 6 of this Circular but are not monitored and recorded in the
accounting logs and maritime infrastructure assets considered excessive upon
inventory as prescribed in clause 4 Article 6 of this Circular, the annual
depreciation of such assets after the first year of recording 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 recording the accounting logs 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 recording the
accounting log
=
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)
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3. The accumulated depreciation
of each maritime 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)
+
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 maritime infrastructure asset
shall be equal to the original cost minus the accumulated depreciation of the
asset, determined according to clause 3 of this Article.
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The residual value of a
maritime infrastructure asset for recording the accounting log shall be
determined according to the following formula:
Residual value of the asset by December 31 of year (n)
=
Original cost of the asset
-
Accumulated depreciation by December 31 of year (n)
Regarding any maritime
infrastructure asset that has its value determined or re-assessed according to clause
6 Article 6 and clause 5 Article 8 of this Circular, the value after the
re-assessment shall be the residual value of the asset.
Chapter
IV
DECLARATION
AND REPORT ON MARITIME INFRASTRUCTURE ASSETS
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Forms of declaration
reports on maritime infrastructure assets prescribed in clause 2 Article 27 of
the Decree No. 84/2025/ND-CP are prescribed as follows:
1. Initial declaration
reports following Form No. 01A in the Appendix enclosed with this Circular
apply to:
Existing maritime
infrastructure assets when the Decree No. 84/2025/ND-CP comes into force
(including assets that have undergone the initial declaration report according
to the Decree No. 43/2018/ND-CP dated March 12, 2018 of the Government of
Vietnam);
Maritime infrastructure
assets generated from the effective date of the Decree No. 84/2025/ND-CP
onwards.
2. Additional declaration
reports following Form No. 01B and Form No. 01C in the Appendix enclosed with
this Circular are applicable in cases where there are changes to the
information on asset management authorities or information on maritime
infrastructure assets that have undergone the initial declaration report.
Article
14. Forms of reports on management, use, and operation of maritime
infrastructure assets
Forms of reports on
management, use, and operation of maritime infrastructure assets prescribed in
clause 5 Article 27 of the Decree No. 84/2025/ND-CP are prescribed as follows:
1. Reports on operation
of maritime infrastructure assets according to the methods prescribed in
Articles 13, 14, and 15 of Decree No. 84/2025/ND-CP, following Form No. 01D in
the Appendix enclosed with this Circular.
2. Consolidated reports
on management and use of maritime infrastructure assets following Form No. 02A
in the Appendix enclosed with this Circular.
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Chapter
V
IMPLEMENTATION
CLAUSES
Article
15. Transitional provisions
1. Regarding any maritime
infrastructure asset that exists before the effective date of the Decree No.
84/2025/ND-CP and has its value determined for recording the accounting log according
to the Decree No. 43/2018/ND-CP and guiding Circulars of the Ministry of
Finance of Vietnam, the determined value shall be used to record the accounting
log.
2. Regarding any maritime
infrastructure asset existing before the effective date of the Decree No.
84/2025/ND-CP without having specific values determined for recording the
accounting log or being depreciated for the operational year according to the
Decree No. 43/2018/ND-CP and guiding Circulars of the Ministry of Finance of
Vietnam, the determination of the asset value and accumulated depreciation of
the operational year shall comply with this Circular.
3. In case maritime
infrastructure assets are monitored on accounting logs of asset management
authorities before the effective date of this Circular and the time for
depreciation and depreciation percentage prescribed in clause 1 Article 10 of
this Circular have changed compared to those prescribed in the Appendix
enclosed with Circular No. 75/2018/TT-BTC from the 2025 fiscal year, the annual
depreciation of the assets shall be determined as follows:
Annual depreciation of the asset
=
Residual value of the asset by December 31 of year
according to the accounting log
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Where:
Remaining useful life of the asset (year)
=
Useful life of assets of the same type according to
regulations (year)
-
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.
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Article
16. Entry into force and implementation responsibilities
1. This Circular comes
into force from August 15, 2025 and is applicable from the 2025 fiscal year.
2. Contents concerning regulations
on management and depreciation of maritime infrastructure assets in Article 1
thru Article 11 and the Appendix III of the 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, the newest
document shall prevail.
4. Relevant Ministries,
central authorities, and People’s Committees of provinces and cities shall
direct management, depreciation, declaration, and report on maritime
infrastructure assets according to this Circular./.
PP. MINISTER
DEPUTY MINISTER
Bui Van Khang