Criteria for asset value regarding fixed assets at agencies, organizations, and units in Vietnam in 2024

Criteria for asset value regarding fixed assets at agencies, organizations, and units in Vietnam in 2024

To be specific, in section 2.1 of part III of Official Dispatch 8131/BTC-BLCS, the criteria for asset value regarding fixed assets at agencies, organizations, and units in Vietnam are identified as follows:

- For tangible fixed assets formed from procurement with documentation determining the purchase price and the time the asset was put into use, the original cost is determined in accordance with the provisions in clause 1, Article 6 of Circular 23/2023/TT-BTC.

- For tangible fixed assets formed from investment in construction with documentation determining the construction cost and the time the asset was put into use, the original cost is determined in accordance with the provisions in clause 2, Article 6 of Circular 23/2023/TT-BTC.

- For tangible fixed assets without documentation determining the purchase or construction cost but with bases to determine the time the asset was put into use and the new purchase price of similar assets or the new construction cost of assets with equivalent technical standards at the time the asset was put into use (Documents related to the acceptance and use of the asset; Handover receipts; original cost of equivalent assets already accounted for;...), the original cost is determined in accordance with the provisions in point a2, clause 5, Article 6 of Circular 23/2023/TT-BTC.

- For special fixed assets, the original cost and residual value are determined at the conventional price of 10 million VND per asset unit.

- For intangible fixed assets such as land use rights, the original cost is determined in accordance with the provisions in clause 1, Article 7 of Circular 23/2023/TT-BTC; the residual value is determined as the original cost.

- For intangible fixed assets other than land use rights: In case of documentation (Invoices, vouchers, budget approvals, settlements...) determining the costs of forming the intangible fixed asset, the original cost is determined as the total costs of forming the intangible fixed asset.

- The residual value of fixed assets that have identified original costs according to points a, b, c, and e above, as of December 31, 2024, is determined in accordance with the provisions in clause 1, Article 16 of Circular 23/2023/TT-BTC.

More details can be found in Official Dispatch 8131/BTC-BLCS issued on August 1, 2024.

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