Regulations on Inland Waterway Traffic Infrastructure Assets

Decree 45 stipulates the management and accounting dossiers for inland waterway traffic infrastructure assets as follows:

Regarding dossiers:

- Dossiers related to the formation and fluctuation of inland waterway traffic infrastructure assets as prescribed in this Decree and relevant laws;- Declaration reports; reports on the management, use, and exploitation of inland waterway traffic infrastructure assets;- Database on inland waterway traffic infrastructure assets.

The agency assigned to manage inland waterway traffic infrastructure assets is responsible for:

- Preparing dossiers on the inland waterway traffic infrastructure assets under its management;- Fully managing and storing dossiers on inland waterway traffic infrastructure assets under its management and reporting to the Ministry of Transport, provincial People's Committees, and competent state authorities as prescribed in this Decree.

Regulations on accounting for inland waterway traffic infrastructure assets

Since inland waterway traffic infrastructure assets have independent structures or systems consisting of many interconnected individual assets to perform one or several specified functions, they are accounting record objects. If a system is assigned to multiple managing agencies, the accounting record objects are the parts of the assets assigned to each agency.

The agency assigned to manage inland waterway traffic infrastructure assets is responsible for:

- Opening books and accounting for the inland waterway traffic infrastructure assets assigned for management according to accounting laws and the regulations of this Decree;- Reporting on the increase, decrease, and depreciation of inland waterway traffic infrastructure assets annually according to legal regulations.

Regarding the original price and residual value of inland waterway traffic infrastructure assets, the principles are:

- For inland waterway traffic infrastructure assets used before the effective date of Decree 45:- If information about the original price and residual value of the assets is available, use the existing values for accounting records;- If there is no information about the original price and residual value, use the conventional price to determine the asset value as the original price for accounting records; the conventional price of central and local assets is decided by the Minister of Transport.

- For inland waterway traffic infrastructure assets completed and put into use from the effective date of Decree 45, the accounting value is the procurement value according to regulations, and the approved settlement value;- In cases where new inland waterway traffic infrastructure assets are invested in, completed, and put into use but have not been approved for settlement by competent authorities, use the provisional original price for accounting records. The provisional original price in this case is chosen in the following priority: proposed settlement value; value determined by the A - B acceptance report; approved project estimate. When the project’s settlement value is approved by competent authorities, the managing agency must adjust the recorded value according to accounting laws;- In cases where inland waterway traffic infrastructure assets are upgraded or expanded during management and use according to projects approved by competent authorities, the project's settlement value will be accounted for increasing the asset value.

The Ministry of Finance, in cooperation with the Ministry of Transport, prescribes policies for accounting and depreciation of inland waterway traffic infrastructure assets.

See additional relevant regulations at Decree 45/2018/ND-CP effective from March 13, 2018.

-Thao Uyen-

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