Guidance on Management and Use of Fixed Assets in Cooperatives

as specified in Article 9 of Circular 83 on the management and use of fixed assets as follows:

- Cooperatives and cooperative unions shall invest, construct, purchase fixed assets in accordance with Articles 32, 34 of the Law on Cooperatives, charters, financial management regulations of cooperatives and cooperative unions, and other relevant laws.- The management, use, and depreciation of fixed assets shall be carried out as for enterprises in accordance with Circular 45/2013/TT-BTC and its amending, supplementing, or replacing documents (if any).- For business sectors with specific regulations on investment, procurement, management, and use of fixed assets according to specialized branches, in addition to the above regulations, they shall also comply with the regulations of specialized legal documents.- The liquidation, transfer, and disposal of fixed assets shall be decided by the general meeting of members in accordance with Articles 32, 34 of the Law on Cooperatives, charters, financial management regulations of cooperatives and cooperative unions, and other relevant laws.- In cases where the implementation of construction investment projects is approved by the competent authority, the cooperative or cooperative union must dismantle or dispose of old fixed assets; the handling and accounting of such old fixed assets when dismantled or disposed of shall be done as for the liquidation or transfer of fixed assets.

For detailed information, see Circular 83/2015/TT-BTC effective from July 15, 2015.

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