Regulations on Collection and Payment of Fixed Asset Depreciation

Specifically, according to the provisions of Article 5 of Circular 65/2018/TT-BQP, policies on the collection and payment of depreciation of fixed assets are as follows:

- Annually, defense production enterprises shall make a plan for the collection and payment of depreciation of fixed assets invested by state capital and send it to the financial agency of the head unit under the Ministry of National Defense and the Ministry of National Defense (through the Finance Department/MND) at the same time as the annual financial plan is made.

- The Finance Department/MND shall take charge of, review and summarize the revenue of depreciation of fixed assets of defense production enterprises, report to the Minister of National Defense for approval, and assign the revenue estimates to the units and enterprises together with the annual budget allocation decision.

- Based on the revenue budget estimates, quarterly, defense production enterprises shall make temporary payments of depreciation of fixed assets to the financial agency, with the payment deadline being no later than 30 days from the end of the quarter.

- The financial agency shall collect depreciation of fixed assets from defense production enterprises under its management and pay it to the Ministry of National Defense (through the Finance Department/MND), with the payment deadline being no later than 45 days from the end of the quarter.

- Settlement of collection and payment of depreciation of fixed assets:

- Defense production enterprises shall report the settlement of collection and payment of depreciation of fixed assets together with the annual financial settlement report.- The financial agency and the Finance Department/MND are responsible for settling the collection and payment of depreciation of fixed assets from defense production enterprises according to their management level, and report and submit it to the competent authority for approval.

See more details at: Circular 65/2018/TT-BQP, effective on July 2, 2018.

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