Vietnam: Transport or water infrastructure assets are those having the useful life of at least 01 (one) year

Kim Linh

09:30, 16/10/2018

This is a notable content of Circular No. 75/2018/TT-BTC of the Ministry of Finance of Vietnam prescribing the regime for management, calculation of depreciation of transport or water infrastructure assets.

According to Circular No. 75/2018/TT-BTC of the Ministry of Finance of Vietnam, transport or water infrastructure assets are those having the useful life of at least 01 (one) year and having the historical cost of at least VND 10,000,000 (ten million dong).

Concurrently, these assets must have independent structures or constitute a system containing separate asset components which are linked together to perform one or several functions.

Moreover, this Circular also stipulates the formula for calculating the annual depreciation amount of each transport or water infrastructure assets:

The annual depreciation amount of each transport or water infrastructure asset

Historical cost of the transport or water infrastructure asset

Depreciation rate (%/year)

View more details at Circular No. 75/2018/TT-BTC of the Ministry of Finance of Vietnam, effective from October 03, 2018. The regime for management and calculation of depreciation of transport or water infrastructure assets regulated herein shall be applicable as from the financial year 2019.

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