Is a Computer Considered a Fixed Asset?

Clause 1, Article 3 of Circular 45/2013/TT-BTC stipulates the standards and identification of fixed assets as follows:

Means of labor are tangible assets with an independent structure or a system consisting of multiple interconnected individual assets that together perform one or several specific functions, any part of which is absent will render the entire system inoperative. If all three of the following criteria are simultaneously met, they are considered fixed assets:

- It is certain to obtain future economic benefits from using the asset;

- It has a useful life of more than one year;

- The original cost of the asset must be reliably determined and be valued at 30,000,000 VND (thirty million VND) or more.

In the case of a system comprising multiple interconnected individual assets, where each component has different useful lives and if the absence of any component still allows the system to perform its primary function, but management and use of fixed assets require managing each individual asset separately, then each such asset component, if it meets the three criteria of fixed assets, is considered an independent tangible fixed asset.

For working and/or productive animals, each animal that meets the three criteria of fixed assets is considered a tangible fixed asset.

For perennial gardens, each patch of the garden or tree that meets all three criteria of fixed assets is considered a tangible fixed asset.

Thus, a computer priced at 35 million VND, which is certain to bring future economic benefits from its use and has a useful life of over one year, is considered a fixed asset.

Respectfully!