Guidance on the depreciation of infrastructure assets for concentrated rural clean water supply in
Circular 73/2022/TT-BTC on management, calculation of depreciation and amortization of clean water supply infrastructure assets promulgated by the Minister of Finance of Vietnam on December 15, 2022.
Article table of contents
Time frame for depreciation calculation, depreciation deduction, and rate of depreciation and amortization for concentrated rural clean water supply infrastructure assets in Vietnam are specified in Clause 1 and Article 8 of Circular 73/2022/TT-BTC.
In addition, Circular 73/2022/TT-BTC guides the application of regulations to infrastructure assets for concentrated rural clean water supply as follows:
- In case the infrastructure assets of concentrated rural clean water supply in Vietnam have been depreciated according to the provisions of Circular 54/2013/TT-BTC on the management, use, and exploitation of concentrated rural clean water supply works; and Circular 76/2017/TT-BTC amending Circular 54/2013/TT-BTC, then:
From the fiscal year 2023 on, depreciation and amortization of assets shall be calculated according to the provisions of this circular.
- In case the infrastructure assets of concentrated rural clean water supply have not been depreciated according to the provisions of Circular 54/2013/TT-BTC and Circular 76/2017/TT-BTC:
Agencies and units assigned to manage clean water supply infrastructure assets shall calculate the total depreciation for the years of use of the assets until the end of fiscal year 2022 at the rate of depreciation specified in Circular 73/2022/TT-BTC and add it to the depreciation amount of that asset for fiscal year 2023.
Vietnam's Circular 73/2022/TT-BTC goes into effect on February 1, 2023, and will apply to the fiscal year 2023, replacing Vietnam's Circulars 54/2013/TT-BTC and 76/2017/TT-BTC.
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