05 principles for the transfer of assets contributed to the Vietnam Public-utility Telecommunication Service Fund

05 principles for the transfer of assets contributed to the Vietnam Public-utility Telecommunication Service Fund - Illustrative photo

In Article 6 of Circular 57/2016/TT-BTC, five principles are stipulated for the transfer and receipt of financial contribution assets to the Vietnam Public-utility Telecommunication Service Fund, and the transfer of assets formed from the fund's finances up to 2020 as follows:

1. Transferred assets are assets invested from the funds of the Vietnam Public-utility Telecommunication Service Fund.

2. The transfer and receipt of assets are based on the list of assets, asset value, and the asset transfer decision issued by the Ministry of Information and Communications.

3. The transferred and received assets must have complete documentation and physical presence. In cases where assets lack documentation or physical existence, the transferor and the receiver shall prepare a report to the Ministry of Information and Communications of Vietnam explaining the reasons and suggesting measures to address the issue under appropriate authority.

4. Upon transferring and receiving assets, both parties must prepare a Transfer Minutes, with the signatures of both parties. The Transfer Minutes must be prepared within 10 days from the date of the asset transfer decision by the Ministry of Information and Communications.

5. The receiving party is responsible for managing, using the assets, and maintaining the operation of the assets to provide public utility telecommunication services from the date of signing the Transfer Minutes.

For detailed content, please refer to Circular 57/2016/TT-BTC, which comes into effect in Vietnam from May 15, 2016.

Le Vy

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