What are regulations on leasing, pledging, mortgaging, sale or disposal of fixed assets of enterprises in Vietnam?

What are regulations on leasing, pledging, mortgaging, sale or disposal of fixed assets of enterprises in Vietnam? - image from internet

Pursuant to Article 8 of the Circular 45/2013/TT-BTC guiding the management, use and depreciation of fixed assets issued by the Minister of Finance and the Circular 147/2016/TT-BTC, the regulations on leasing, pledging, mortgaging, sale or disposal of fixed assets of enterprises in Vietnam are as follows:

- All activities of leasing, pledging, mortgaging, sale or disposal of fixed assets must comply with current regulations of law.

- For leased fixed assets:

+ Operating fixed assets:

++ The leased enterprise must have responsibility for management, use of fixed assets under provisions in the lease contract. The leasing cost of fixed assets is recorded into business cost in the period.

++ The leasing enterprise as the owner must monitor and manage the leased fixed assets.

+ For fixed assets from financial leasing:

++ The leased enterprise must monitor, manage and use the leased fixed assets as they are owned by enterprises and fulfill the obligations committed in the contract of fixed assets leasing.

++ The leasing enterprise, as an investor shall monitor and comply with the provisions of the contract of fixed assets leasing.

+ In case in the contract of asset leasing (including operating leasing and financial leasing) stipulating that the lessee shall repair the assets during the leasing term, the repairment costs of the leased fixed assets shall be recorded in the costs or amortized into the business cost but the time must not exceed 3 years.

- Type 6 fixed assets specified in Clause 2 Article 1 of this Circular shall be transferred or liquidated under written approvals of representative offices of the state. Such transfer or liquidation shall be recorded as a decrease in capital of the enterprise. The proceeds from the transfer, after deducting the cost of transfer or liquidation, shall be wholly submitted to the state budget or used as an increase in charter capital under written instructions of the financial agencies and the representative of the state.

Above are regulations on leasing, pledging, mortgaging, sale or disposal of fixed assets of enterprises in Vietnam. Please refer to the Circular 45/2013/TT-BTC for more information.

Best regards!