Determination of the actual remaining value of centralized municipal water supply projects in rural areas in Vietnam

According to Circular No. 76/2017/TT-BTC of the Ministry of Finance of Vietnam, the following types of project shall be subject to the requirement concerning determination of the actual remaining value, including:

- Projects that have already been transferred to authorized transferees (i.e. public service units; commune-level People's Committees; cooperatives; enterprises that use state capital without investing such state capital in other enterprises; enterprises allocated assets by the state without being indebted to the State according to regulations), but are not run effectively;

- Projects that have not yet been transferred to authorized transferees as of the date of entry into force of Circular No. 54/2013/TT-BTC;

- Projects received for further transfer purposes as from the effective date of this Circular that are not documented or are documented inadequately as required by law on investment and construction.

On the other hand, Provincial Departments of Agriculture and Rural Development shall hire fully qualified entities or take charge of cooperating with provincial Departments of Finance and other relevant agencies on setting up Appraisal Boards to determine the actual remaining values and the remaining useful life of projects (exclusive of value of land use right); submitting them to Departments of Finance for their review before seeking approval decisions on actual remaining values and the remaining useful life of projects from Presidents of provincial People's Committees.

Besides, according to Clause 5 Article 1 of Circular No. 76/2017/TT-BTC amending Clause 4 Article 13 of Circular No. 54/2013/TT-BTC, transferring projects to public service units shall follow the commissioning, order placement or assignment methods prescribed in Decree No. 130/2013/ND-CP dated October 16, 2013 of Vietnam’s Government on production and supply of public products and services, and any other written documents prescribing amendments or supplements thereto.

View more details at Circular No. 76/2017/TT-BTC of the Ministry of Finance of Vietnam, effective from September 10, 2017.

Thu Ba

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