Vietnam: Classification of fixed assets

According to Circular No. 45/2018/TT-BTC of the Ministry of Finance of Vietnam, fixed assets are classified based on their physical properties or their origins. To be specific:

1. Classification based on physical properties, including:

Tangible fixed assets

- Type 1: Buildings and constructions: offices, warehouses, auditoriums, clubs, cultural buildings, sport stadiums, museums, kindergartens, workshops, classes, lecture halls, dormitories, hospitals, convalescent homes, guest houses, houses, public houses, other buildings and constructions.

- Type 2: Architectural structures: warehouses, storage tanks, parking lots, drying grounds, sports grounds, swimming pools, bore wells, dug wells, fences and other architectural structures.

- Type 3: Cars, including: official state cars, cars serving general work, specialized cars, cars serving state reception and other cars.

- Type 4: Other vehicles (except cars): road transport vehicles, rail transport vehicles, water transport vehicles, air transport vehicles and other transport vehicles.

- Type 5: Machinery and equipment: Popular official machinery and equipment, equipment serving general activities; specialized machinery and equipment and other machinery and equipment.

- Type 6: Perennial plants, draught animals and/or animals serving production.

- Type 7: Other tangible fixed assets

Intangible fixed assets

- Type 1: Land use rights.

- Type 2: Patents and copyrights.

- Type 3: Industrial proprietorship.

- Type 4: Rights to plant varieties.

- Type 5: Software.

- Type 6: Brands of the public sector entities.

- Type 7: Other intangible fixed assets.

2. Classification based on the origins of assets, including:

- Fixed assets form from procurement.

- Fixed assets form from investment in construction.

- Fixed assets provided or transferred.

- Fixed assets given or promoted.

- Fixed assets not listed in the account book.

- Fixed assets form from other sources.

Circular No. 45/2018/TT-BTC of the Ministry of Finance of Vietnam takes effect from July 02, 2018.

- Thanh Lam -

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