Are information interface infrastructure assets in Vietnam considered as fixed assets when valued from 10 million VND as of July 30, 2022?
How many types of road infrastructure assets in VIetnam are there according to current regulations?
Pursuant to Article 4 of Decree 33/2019/ND-CP stipulates as follows:
“Article 4. Road traffic infrastructure assets”
1. Road traffic infrastructure assets (including land attached to the property) include:
a) Road and ancillary works attached to the road;
b) Road bridges and ancillary works attached to road bridges;
c) Road tunnels and ancillary works attached to road tunnels;
d) Road ferry terminals and ancillary works attached to road ferry terminals; pontoon bridge and ancillary works;
dd) Vehicle load testing station;
e) Road toll stations;
g) Bus station;
h) Parking lot;
i) Road management county house;
k) Rest station;
l) Warehouse to store backup supplies;
m) Traffic monitoring and management center (ITS Center);
n) The land of the road safety corridor has been compensated and cleared;
o) Road traffic rescue and rescue center;
p) Other road traffic works as prescribed by the law on road traffic.
2. Road traffic infrastructure assets specified in Clause 1 of this Article related to national defense and security shall be determined according to the provisions of law on protection of important works related to national security. national security.”
Thus, road traffic infrastructure assets include those listed in the above regulations.
Road traffic infrastructure assets in VIetnam are considered fixed assets when their historical cost is from 10 million VND as of July 30, 2022?
From July 30, 2022, road traffic infrastructure assets in Vietnam with historical cost from 10 million VND are fixed assets?
Pursuant to Article 3 of Circular 35/2022/TT-BTC stipulating as follows:
“Article 3. Standards for identification of road traffic infrastructure assets”
1. Road traffic infrastructure assets specified at points a, b, c, d, dd, e, g, h, i, k, 1, m, 0 and 2, clause 1, article 4 of Decree No. 33 /2014/ND-CP dated April 23, 2013 of the Government stipulating the management, use and exploitation of road infrastructure assets (hereinafter referred to as Decree No. 33/2014/ND-CP) CP) has an independent structure or is a system of many separate asset parts linked together to perform one or a number of certain functions, satisfying both of the following two criteria at the same time. permanent:
a) Has been used for 1 year or more;
b) The original price is VND 10,000,000 (ten million VND) or more.
2. In case a system of road traffic infrastructure assets is assigned to more than one management agency, the part of the property assigned to each agency must simultaneously satisfy the 02 criteria specified at Points a and b, Clause 1. This is a fixed asset.”
Accordingly, in order to determine fixed assets in road traffic, it is necessary to ensure both of the criteria stated in the above regulations.
How to handle road traffic assets that no longer need to be used?
Pursuant to Article 4 of Circular 35/2022/TT-BTC stipulating as follows:
“Article 4. Management of road traffic infrastructure assets”
1. Road traffic infrastructure assets specified in Article 3 of this Circular must be documented in order to strictly manage in kind and their value in accordance with the law on asset management and use. public and relevant laws.
2. The accounting for road traffic infrastructure assets must fully reflect and record information on the historical cost, residual value and accumulated depreciation of the asset.
3. Agencies assigned to manage road traffic infrastructure assets are responsible for:
a) Make asset cards, make accounting records for all road traffic infrastructure assets assigned to manage in strict accordance with the provisions of the current accounting regime;
b) Carry out an annual inventory of assets; report to the immediate superior financial agency for unified accounting and adjustment of data between inventory results and accounting books (if any);
c) Make a report on the management and use of road traffic infrastructure assets in accordance with the law on management and use of public property and relevant laws.
4. For road traffic infrastructure assets that are no longer needed but have not been fully calculated as prescribed, the agency assigned to manage the property shall continue to manage, monitor and preserve them according to regulations. current regulations and calculate depreciation according to the provisions of this Circular until it is handled according to regulations.
5. For road traffic infrastructure assets that have been fully depreciated but continue to be usable, the agency assigned to manage the property shall continue to manage, monitor and preserve according to current regulations and not wear and tear.
In case the road traffic infrastructure property has been fully depreciated but then falls into the case where the original cost must be changed as prescribed in Clause 2, Article 5 of this Circular, the amortization must be calculated for the remaining useful life. if any) after changing the original price. .
6. In case of leasing the right to exploit land traffic infrastructure assets, the agency assigned to manage the property shall continue to manage, monitor and calculate the depreciation of the property according to the provisions of this Circular for a period of time. lease term.
7. In case of definite transfer of the right to exploit land traffic infrastructure assets, during the transfer period, the agency assigned to manage the property (the assignor) is responsible for monitoring and supervising the implementation. perform the obligations of the transferee in accordance with regulations; does not calculate depreciation according to the provisions of this Circular.
At the end of the transfer period, the agency assigned to manage the property shall take over the property under the transfer contract with a definite term of the right to exploit road infrastructure assets and the provisions of law, perform the determination return the original cost and residual value of the property for management, use, and depreciation in accordance with the provisions of Decree No. 33/2019/ND-CP and this Circular.”
Accordingly, the management of road traffic infrastructure assets is carried out as prescribed above. For road traffic infrastructure assets that are no longer in need of use but have not been fully depreciated, the agency assigned to manage such property will have to continue to manage, monitor and preserve the property according to regulations. law.
Circular 35/2022/TT-BTC takes effect from July 30, 2022.
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