Circular No. 122/2007/TT-BTC amends and supplements certain contents of Circular No. 43 TC/QLCS dated July 31, 1996, issued by the Ministry of Finance, guiding the receipt and transfer of assets between administrative and public service agencies and economic organizations according to decisions of competent authorities.

REGULATION  LEGAL

Amending and supplementing certain contents of Circular No. 43 TC/QLCS dated July 31, 1996 of the Ministry of Finance guiding the receipt and transfer of assets between administrative agencies and economic organizations according to the decision of the competent authority.
July 31, 1996
administrative agencies and economic organizations
pursuant to the decision of the competent authority.

- Pursuant to Decree No. 77/2003/NĐ-CP dated July 1, 2003  Pursuant to Decree No. 60/2021/NĐ-CP dated June 21, 2021, which establishes the financial autonomy mechanism for public service organizations, as amended and supplemented by Decree No. 111/2025/NĐ-CP dated May 22, 2025;  Article 3. Method of submitting reports by credit rating service enterprises

- Pursuant to Decree No. 137/2006/NĐ-CP dated November 14, 2006 of the Government stipulating the delegation of state management over state assets at administrative agencies and public service units, assets established with ownership rights of the State;

The Ministry of Finance guides amending and supplementing certain contents of Circular No. 43 TC/QLCS dated July 31, 1996 of the Ministry of Finance guiding the receipt and transfer of assets between administrative agencies and economic organizations according to the decision of the competent authority as follows:

1. Amending and supplementing points a and b, Section 1, Part I as follows:

“a. The objects subject to this Circular are fixed assets (including houses and land) of administrative agencies, political organizations, political-social organizations, political-social-professional organizations, social organizations, social-professional organizations, armed forces units, and public service units (hereinafter referred to collectively as administrative agencies and public service units) decided to be transferred by the competent authority.

b. This Circular only applies to the receipt and transfer of assets when both parties involved are administrative agencies and public service units according to the decision of the competent authority stipulated in Decree No. 137/2006/NĐ-CP dated November 14, 2006 of the Government stipulating the delegation of state management over state assets at administrative agencies and public service units, assets established with ownership rights of the State.”

2. Amending and supplementing point a and point c, Section 2, Part I as follows:

“a. All assets before being transferred must be inventoried in terms of quantity, clearly defining the source of capital formation for each asset and transferring them in their original condition based on the accounting records. During the receipt and transfer process, if there are assets not recorded in the accounting system, they must be re-evaluated at the time and place of transfer to ensure proper transfer."

“c. When conducting the transfer, a handover record of assets must be established according to the prescribed form (attached to this Circular); accurately recording the quantity, value of the assets, and attaching relevant documents related to the transferred assets. The handover record of assets must be confirmed by the direct superior supervisory agency and sent to the same-level finance agency one copy for coordination and management.”

3. Amending and supplementing the first clause of Part II determining the value of transferred assets as follows:

The value of transferred assets is determined based on the value currently tracked in the accounting books or re-evaluated at the time and place of transfer (for assets not recorded in the accounting system).

4. Amending and supplementing Section 2 of Part II regarding the organization of re-evaluating the value of transferred assets as follows:

"3. Within a maximum of 15 working days from the date of receiving the decision to transfer assets from the competent authority, if the transferred assets have not been recorded in the accounting system, the agency transferring the assets shall report to its direct superior supervisory agency to establish a Valuation Committee to determine the value according to the method stipulated in Section 2 of this part. The members of the Valuation Committee include representatives of the agency transferring the assets, representatives of the agency receiving the assets, and representatives of the direct superior supervisory agency."

5. Abolishing bullet point 2 of point a "For the transferring party" and point b "For the receiving party" of Section 1, Part III of Circular No. 43/TC-QLCS concerning accounting entries for increases and decreases in assets and handling costs arising during the transfer process for cases involving the transfer and receipt of state-owned enterprises (state companies); simultaneously abolishing the phrases "state-owned enterprise" and "Director of the State Capital and Asset Management General Department at Enterprises" stipulated in Circular No. 43/TC-QLCS.

The phrases in Circular No. 43/TC-QLCS including "Director of the Department of Finance and Prices" are now amended to "Director of the Department of Finance".

6. Effectiveness:

This Circular takes effect 15 days after its publication in the Official Gazette. Contents not amended or supplemented in this Circular continue to be implemented according to the provisions of Circular No. 43 TC/QLCS dated July 31, 1996 of the Ministry of Finance guiding the receipt and transfer of assets between administrative agencies and economic organizations according to the decision of the competent authority.

In the course of implementation, if there are any difficulties, it is recommended that organizations and individuals reflect these issues to the Ministry of Finance for consideration and resolution./.