On 19/09/2019, the Minister of Justice issued Decision 2402/QD-BTP on the list, life cycle, and depreciation rate of the assets not eligible to be recognized as fixed assets, or intangible and special fixed assets managed by the Ministry of Justice. Particularly:
Assets not eligible to be recognized as fixed assets
Assets in one of the following two categories will be determined as not eligible to be recognized as fixed assets under the management of the Ministry of Justice:
- Assets (except houses, construction works and architectural objects) have a historical cost of VND 5 million to under VND 10 million and have a life cycle of 01 year or more.
- Assets which are easily damaged or broken and have a historical cost of VND 10 million or higher.
The list, life cycle, and depreciation rate of the assets not eligible to be recognized as fixed assets under the management of the Ministry of Justice will be provided in Annexes 01 and 02 attached to this Decision.
Special fixed assets
- Special fixed assets include: Fixed assets of which the costs of forming or real values cannot not be determined, but they need be managed strictly; Fixed assets which are the brands of non-business organizations and of which the costs of forming cannot be determined.
- The conventional price of a special fixed asset is VND10 million, which is used to determine the historical costs of assets
Intangible fixed assets
- The criteria for identifying intangible fixed assets: those assets which do not have a physical form and are formed by the investment of an agency, organization, or enterprise or through a duration of operation, satisfying the two criteria as (i) having a life cycle of 01 year or more; and (ii) having a historical cost of VND10 million or more.
- The list, life cycle, and depreciation rate of intangible fixed assets under the management of the Ministry of Justice will be provided in Annex 02 attached to this Decision.
Decision 2402/QD-BTP takes effect from 19/9/2019 and replaces Decision No. 1422/QD-BTP dated 01/07/2016.
