Chương II Thông tư 45/2013/TT-BTC: Quy định về quản lý tài sản cố định

Chapter II:

REGULATION ON MANAGEMENT OF FIXED ASSETS

Article 3. Standards and identification of fixed assets:

1. Means of labor are the tangible assets with independent structure, or a system of many individual parts of assets linked to perform one or a certain number of functions and without any part, the system can not work, and if meet the following three criteria they shall be regarded as fixed assets:

a) It is certain to gain economic benefit in the future from the use of such asset;

b) Having the utilization time of over 01 year.

c) Primary price of assets must be determined reliably, and is valued at 30,000,000 (thirty million) dong or more.

In case a system includes many individual components of assets linked together, in which each component has different utilization time and without any component the entire system still perform its main operating function its main activity but due to requirements on management and use of fixed asset requiring separately managed asset division, each asset division if simultaneously satisfying three criteria of fixed assets shall be regarded as independent tangible fixed assets.

For animals working and / or giving products, then each of the animals simultaneously satisfying three criteria of fixed assets is regarded as tangible fixed.

For perennial orchards, each piece of garden, or trees simultaneously satisfying three criteria shall be regarded as a fixed tangible asset.

2. Standards and identificaton of intangible assets:

All actual costs spent by enterprises simultaneously satisfyiing all three criteria specified in Clause 1 of this Article, without forming tangible fixed assets are regarded as intangible assets.

The expenses not simultaneously satisfying all three criteria specified in Clause 1, Article 3 of this Circular shall be recorded directly or gradually amortized into the business cost of enterprises.

As for costs incurred in the implementation phase recognized as intangible assets generated from the inside of enterprise if they simultaneously satisfy the following seven conditions:

a) Technical feasibility ensures the completion and put the intangible assets to the expected use or sale;

b) Enterprises intend to complete the intangible asset for use or sale;

c) Enterprises have the ability to use or sell these intangible assets;

d) These Intangible assets have to generate economic benefits in the future;

e) Having sufficient technical and financial resources and other resources to complete stages of deployment, sale or use of those intangible assets.

g) Being able to identify with certainty the full cost of the deployment phase to create such intangible assets;

h) It is estimated to have adequate standards on utilization time and value defined for intangible fixed assets.

3. The cost of establishment of enterprise, cost of staff training, advertising cost incurred prior to the establishment of enterprise, cost of research stage, relocation, sale for possession and use of technical materials, patents, license of technology transfer, trade marks, business advantage that are not intangibles fixed assets but are amortized into business cost of enterprises in a maximum time not exceeding 3 years according regulations of Law on Enterprise Income Tax.

4. For Joint-Stock companies converted from state-owned companies under the provisions of the Government’s Decrees issued before Decree No. 59/2011/ND-CP dated July 18, 2011 of the Government on the conversion of enterprises with 100% state capital into joint-stock companies, having business advantage included in the enterprise value when determining enterprise value for equitization by the method of assets and approved by the competent authority as prescribed, they shall perform the allocation of value of business advantage under provisions in Circular No. 138/2012/TT-BTC dated August 20, 2012 of the Ministry of Finance guiding the allocation of value of business advantage for Joint-Stock companies converted from state-owned companies.

Article 4. Determining the primary price of fixed assets:

1. Determining the primary price of tangible fixed assets:

a) Tangible fixed assets from purchase:

The orginal cost of tangible fixed assets from purchase (new or old purchase): the purchase price actually paid plus (+) taxes (excluding refundable taxes) and directly related costs to be paid by the time putting the fixed assets into a state of ready for use such as interest incurred during the procurement of fixed assets; transportation costs, loading and unloading; costs of upgrade, installation, testing, registration fee and other directly related expenses.

In case the tangible fixed assets purchased by deferred payments or installment payments, the primary price of fixed assets is the purchase price paid at the time of purchase plus (+) taxes (excluding refundable taxes) and directly related costs to be paid by the time putting the fixed assets into a state of ready for use, such as the cost of shipping, loading and unloading, upgrade, installation, testing, registration fee (if any).

In case of purchasing tangible fixed assets which are housing and structures associated with land use rights, the value of land use rights must be separately identified and recognized as intangible assets if they meet the qualifications specified in the e Clause 2 of this Article, the tangible fixed assets are buildings, structures, the primary price is the purchase price actually paid plus (+) the costs directly related to the introduction of tangible fixed assets into use.

In case after purchasing tangible fixed assets which are housing and structures associated with land use rights, the enterprises shall remove or demolish for new construction, the value of land use right must be separately identified and recorded asintangible fixed assets if meeting the standards under provision specified in Clause 2 of this Article; the primary price of fixed assets newly built is determined as settlement price of the construction as prescribed in the current Regulations on management of investment and construction. These properties removed or demolished are recorded under current regulations for disposal of fixed assets.

b) Tangible fixed assets purchased in the form of exchange:

The primary price of fixed assets purchased in the form of exchange with an unsimilar tangible fixed asset or other assets is the rational value of tangible fixed asset reveived or rational value of fixed assets brought to be exchanged (after addition of additional payables or deduction of the receivables) plus (+) taxes (excluding refundable taxes), the directly related costs to be paid by the time putting the fixed assets into a state of ready for use such as the cost of shipping, loading and unloading, upgrade, installation, testing and registration fee (if any).

The primary price of tangible fixed assets purchased in the form of exchange with a similar tangible fixed asset or may be formed due to be sold in exchange for ownership of a similar asset which is the Residual value of tangible fixed asset to be exchanged.

c) Tangible fixed assets to be built or produced by themselves :

The primary price of tangible fixed assets to be built by themselves is the value of settlement of works when being put into use. In case the fixed assets are put into use but have not been finalized, the enterprises shall record the primary price by the provisional price and adjust after settlement of completed works.

The primary price of tangible fixed assets to be produced by themselves is the actual cost of tangible fixed assets plus (+) costs of installation, testing and other directly related costs by the time putting the tangible fixed assets into a state of ready for use (except for internal profits, value of products recovered during pilot testing, production, the unreasonable costs as waste materials, labor or other costs beyond the norm prescribed in construction or production).

d) The primary price of tangible fixed assets due to construction:

The primary price of fixed assets due to capital construction is formed by the method of contractor appointment is the settlement price of the construction as prescribed in the current Regulations on management of investment and construction plus (+) registration fee and other directly related costs. In case the fixed assets due to construction are put into use but have not been finalized, the enterprises shall record the primary price by the provisional price and adjust after settlement of completed works.

For fixed assets that are animals working and/or giving products, perennial orchards, the primary price is the entire actual costs paid for these animals or orchards from the formation to the time of putting into operation and use.

e) Tangible fixed assets are funded, offered, donated or excessive by detection.

The primary price of tangible fixed assets due to funding, offer, donation, excess due to detection is the value by actual evaluation of the delivery Council or professional valuation organization.

g) Tangible fixed assets allocated and transferred:

The primary price of tangible fixed assets allocated or transferred include the residual value of the fixed assets on accounting books at allocating or transferring units or the value by actual evaluation of the professional valuation organization as prescribed by law, plus (+) directly related costs which the asset receiving party has to pay by the time the fixed assets are put into a state of ready for use such as cost of leasing of valuation organization, upgrade, installation, testing....

h) Tangible fixed assets from receiving and receiving back contributed capital:

The fixed assets from receiving and receiving back contributed capital are value agreed on consensus by the members, founding shareholders or agreed between enterprises and capital contributors or evaluated by professional organization as prescribed by law and approved by members and founding shareholders

2. Determining the primary price of intangible fixed assets:

a) Intangible fixed assets from procurement:

The primary price of intangible fixed assets is a purchase price actually paid plus (+) taxes (excluding refundable taxes) and directly related costs to be paid by the time putting the assets into use.

In case the intangible fixed assets purchased by deferred payments or installment payments, the primary price of fixed assets is the purchase price paid at the time of purchase (excluding interest on deferred payment).

b) Intangible fixed assets purchased in the form of exchange:

The primary price of intangible fixed assets in the form of exchange with an unsimilar intangible fixed asset or other assets is the rational value of intangible fixed assets received back or the rational value to be exchanged (after addition of payables or reduction of receivables) plus (+) taxes (excluding refundable taxes) and directly related costs by the time putting the asset into use as expected.

The primary price of intangible fixed assets purchases in the form of exchange with a similar intangible fixed asset or formed due to be sold for exchange of ownership of a similar asset is a Residual value of intangible fixed assets to be exchanged.

c) The intangible fixed assets allocated, offered, donated or transferred:

The primary price of intangible fixed assets allocated, offered, donated is the initial rational value plus (+) directly related costs to be paid for putting the asset into use.

The primary price of fixed assets transferred is the primary price recorded in the accounting books of enterprises having transferred assets. The enterprises receiving these assets shall record the primary price, depreciation and Residual value of the assets as prescribed.

d) Intangible fixed assets are created from inside of enterprises :

The primary price of intangible fixed assets created from inside of enterprises is the costs directly related to the phase of pilot construction and production to be paid by the time putting those fixed assets into use as expected.

With regards to the costs incurred internally for business to have trademarks, issuance right, customer lists, the costs incurred in the research stage and similar items not meeting the standard and recognizing these intangible assets are recorded in the business costs in the period.

e) Intangible fixed assets are land use right:

- Intangible fixed assets are land use right including:

+ The land use right allocated by the State with land use fee or receiving the transfer of legal land use right  (including term and non-term land use right).

+ The right to use the leased land before the effective date of the Land Act 2003 but the rent has been paid for the leasing time or paid in advance for many years but the remaining land lease term paid is at least five years and granted with certificate of land use right by the competent authority.

The primary price of fixed assets determined is the total amount paid to have the legal land use right plus (+) costs of site clearance, ground leveling, registration fee (excluding costs for building works on land) or the value of land use right with contributed capital.

- Land use rights not recognized as intangible assets, including :

+ Land use rights allocated by the State without land use fee.

+ Land lease rent paid one time for the entire lease term (the land lease time after the effective date of the Land Law 2003 without certificate of land use right granted), the rent is amortized into the business costs by the number of lease year.

+ Land lease rent paid annually, the rent is recorded into the business costs in the period in proportion to the rent annually paid.

- For the assets as housing and land for sale or trading of real estate companies, the enterprises must not record them as fixed assets and  depreciate.

g) The primary price of intangible fixed assets is the copyright, industrial property right, plant variety right in accordance with the law on intellectual property: the total actual costs that enterprises have paid to get copyright, industrial property right, plant variety right in accordance with the law on intellectual property.

h) The primary price of fixed assets as software programs:

The primary price of fixed assets as software programs determined is the total actual costs the enterprise have paid to have software programs in case they may be separated from the related hardware and designed with semiconductor integrated circuit in accordance with the law on intellectual property.

3. Fixed assets from financial leasing:

The primary price of fixed assets from financial leasing reflected in the leasing units is the value of leased assets by the time starting the lease of assets plus (+) direct costs incurred initially related to the financial leasing.

4. The primary price of enterprise’s fixed assets is only changed in the following cases:

a) Re-evaluating the value of fixed assets in cases:

- By decision of competent state authority.

- Implementation of enterprise reorganization, enterprise ownership change, enterprise transformation: split, merger, consolidation, equitization, sale, lease, conversion of limited liability company into a joint stock company and from joint stock company converted into a limited liability company.

- Investment made outside enterprise by use of assets.

b) Upgrading fixed assets

c) Dismantling one or a number of parts of fixed assets but these parts are managed by standard of a tangible fixed asset.

When changing the primary price of fixed assets, the enterprise have to make a record specifying grounds for change and re-determine indicators of primary price, the Residual value in accounting book, accumulated depreciation, utilization time of fixed assets and conduct the record as prescribed.

Article 5. Principle to manage fixed assets:

1. All fixed assets in enterprise must have a separate record (including record of delivery of fixed assets, contracts, invoices of purchase of fixed assets, and other related papers). Each fixed asset must be classified, numbered with its own card, monitored in detail and reflected in the monitoring book of fixed assets.

2. Each fixed asset must be managed by its primary price, accumulated depreciation and residual value in accounting books

3. For fixed assets without need of use awaiting disposal, but not fully depreciated, the enterprises have to manage, monitor and preserve under current regulations and depreciation under the provisions of this Circular.

4. The enterprises must manage for fixed assets fully depreciated but still involved in business activities as normal fixed assets.

Article 6. Classification of enterprise’s fixed assets

Based on the purpose of use of fixed assets, the enterprises shall conduct classification of fixed assets by the following indicators:

1. Fixed assets used for business purposes are fixed assets managed and used by enterprises for their business purposes.

a) For tangible fixed assets, the enterprises can classify them as follows:

Type 1: Housing and structures: are the enterprise’s fixed assets formed after the construction process, such as head office, warehousing, fences, water tower, open storage, the works decorating housing, roads, bridges, railways, airfield, piers, wharves, docks and slipway.

Type 2: Machinery and equipment: the whole machinery and equipment used in the business operation of the enterprise such as specialized machinery, working equipment, drilling rigs in the oil and gas area, cranes, technological lines and individual machines.

Type 3: Means of transport, transmission equipment are types of means of transportation including railway, water way, road, air, pipeline and transmission equipment, such as information system, electrical system, water pipe and conveyor.

Type 4: Equipment and management tools: are the equipment and tools used in the management of the enterprise’s business operations such as computers for management, electronic equipment, equipment, measurement and quality tools, dehumidifiers, vacuum cleaners, anti-termite.

Type 5: Perennial orchards, working animals and / or giving products: are the perennial orchards as coffee plantations, tea plantations, rubber plantations, orchards, lawn, green carpet .. ., working animals and / or giving products, such as herd of elephants, horses, buffaloes, cows ...

Type 6: Other types of fixed assets: are all other fixed assets not listed in the above five types such as pictures,.

b) Intangible fixed assets: land use rights as stipulated in Clause 2, Article 4 of this Circular, issuance right, patent, inventions, literature, works of art, science, products, results of art performance, video and audio recordings, broadcasting programs, satellite signals carrying coded programs, industrial designs, designs of semiconductor integrated circuits, business secrets, trademarks, trade names and geographical indications, plant varieties and breeding material.

2. Fixed assets used for welfare purposes, career, security and national defense are the fixed assets managed and used by enterprises for welfare purposes, career, security and national defense in the enterprises. These fixed assets are also classified under provisions of Point 1 mentioned above.

3. Fixed assets preserved, kept or stored are the fixed assets which the enterprises preserve or keep for other units or keep for the State as prescribed by the competent State agencies.

4. Depending on the requirements on management of each enterprise, the enterprises shall classify more detailed their types of fixed asset in each group accordingly.

Article 7. Investment, upgrade and repair of fixed assets:

1. The costs which enterprises have paid for upgrade of fixed assets are reflected by an increase in primary price of such fixed assets. These costs must not be recorded into the cost of business and productions in the period.

2. The repair costs of fixed assets must not be calculated by an increase in primary price of fixed assets but are recorded directly or amortized into the business cost in the period, but not exceeding 3 years maximally.

For fixed assets whose repair is cyclical, the enterprises shall be allowed for deduction of repair cost by estimating into the annual cost. If the actual cost of repair of fixed assets is greater than the deduction by estimate, the enterprises shall be allowed to include in the rational costs this difference. If the actual cost of repair of fixed assets is less than the deduction, the difference is recorded by a reduction of business costs in the period.

3. The costs related to intangible assets generated after initial recognition and evaluated with certainty, increasing the economic benefits of the intangible fixed assets compared to the initial activity, shall be reflected by an increase of primary price cost . Other costs related to intangible assets generated after initial recognition are recorded in cost of business and production.

Article 8. Leasing, pledging, mortgaging, sale or disposal:

1. All activities of leasing, pledging, mortgaging, sale or disposal of fixed assets must comply with current regulations of law.

2. For leased fixed assets:

a) Operating fixed assets:

- The leased enterprise must have responsibility for management, use of fixed assets under provisions in the lease contract. The leasing cost of fixed assets is recorded into business cost in the period.

- The leasing enterprise as the owner must monitor and manage the leased fixed assets.

b) For fixed assets from financial leasing:

- The leased enterprise must monitor, manage and use the leased fixed assets as they are owned by enterprises and fulfill the obligations committed in the contract of fixed assets leasing.

- The leasing enterprise, as an investor shall monitor and comply with the provisions of the contract of fixed assets leasing.

c) In case in the contract of asset leasing (including operating leasing and financial leasing) stipulating that the lessee shall repair the assets during the leasing term, the repairment costs of the leased fixed assets shall be recorded in the costs or amortized into the business cost but the time must not exceed 3 years.