Management and Utilization of Revenue from Fixed Asset Depreciation

10:49, 11/07/2024

Circular 65/2018/TT-BQP stipulating the policies on collection, payment, management, and use of depreciation proceeds of fixed assets of defense enterprises was issued on May 16, 2018. This Circular provides detailed regulations on the management and use of depreciation proceeds of fixed assets.

To be specific:, according to the provisions of Article 6 Circular 65/2018/TT-BQP, depreciation revenue of fixed assets is used for centralized investment for defense production enterprises in the following forms:

- Investment expenditure, supporting investment capital for projects and constructions;- Expenditure on asset procurement;- Expenditure on supplementary charter capital in cash;- Other development investment expenditures.

Annually, based on the plan for fixed asset depreciation revenue collection and remittance, the investment capital demand, supplementary charter capital of defense production enterprises, and the proposal of the enterprise's superior authority, the Finance Department compiles and prepares the expenditure estimate, reports to the Minister of National Defense for approval on the expenditure level and content from the fixed asset depreciation revenue along with the decision on budget expenditure estimates.

The order and procedures for using the fixed asset depreciation revenue are implemented similarly to the investment development expenditure and supplementary charter capital expenditure according to the regulations of the State and the Ministry of National Defense.

See more: Circular 65/2018/TT-BQP effective from July 02, 2018.

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