Circular No. 16/2005/TT-BTM supplements the provisions on calculating the accumulated depreciation value in the importation of machinery, equipment, and transportation means forming fixed assets of foreign-invested enterprises. These provisions apply to specific cases such as expanding production capacity, replacing or modernizing technology, and utilizing technological advancements.
适用范围
Foreign-invested enterprises
要点
- Enterprises may use accumulated depreciation value to import machinery, equipment, and transportation means when expanding production capacity or replacing/modernizing technology.
- When utilizing technological advancements, enterprises may import new equipment if it aligns with the production objectives specified in the Investment License.
- Enterprises must comply with the registered plan for using the accumulated depreciation fund with the tax authority when importing machinery, equipment, and transportation means forming fixed assets.
- The accumulated depreciation value shall not be included in the committed investment capital during the importation process.
- This Circular takes effect fifteen days from the date of publication in the Official Gazette.
🌐 本文件的社会影响
- Positive impact: Helps enterprises be more flexible in using the accumulated depreciation value to import equipment, reducing financial burdens.
- Negative impact: May lead to enterprises exploiting the regulations to avoid investment commitments.
❓ 常见问题
How can enterprises utilize the accumulated depreciation value?
Enterprises may use the accumulated depreciation value to import machinery, equipment, and transportation means when expanding production capacity or replacing/modernizing technology.
Are there limits on the amount of accumulated depreciation value that can be used?
There is no specific information on limits. Enterprises must adhere to the registered plan for using the accumulated depreciation fund with the tax authority.
What must enterprises do when importing new machinery and equipment?
When importing new machinery and equipment due to technological advancements, enterprises must adjust their production objectives before importation if the equipment changes the production objectives.
Can the accumulated depreciation value be counted towards the committed investment capital?
No, the accumulated depreciation value used in the importation of machinery, equipment, and transportation means forming fixed assets shall not be counted towards the committed investment capital.
When does this Circular take effect?
This Circular takes effect fifteen days from the date of publication in the Official Gazette.
全文
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MINISTRY OF TRADE |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 16/2005/TT-MCT |
Hanoi, August 16, 2005 |
CIRCULAR
Supplementing Circular No. 22/2000/TT-MCT dated December 15, 2000 of the Ministry of Trade guiding the implementation of Decree No. 24/2000/ND-CP dated July 31, 2000 of the Government detailing the implementation of the Law on Foreign Investment in Vietnam regarding the calculation of accumulated depreciation value in the computation of imports of machinery, equipment, and transportation means to form fixed assets of enterprises with foreign invested capital Enterprises with foreign invested capital
Pursuant to Decree No. 24/2004/ND-CP dated July 31, 2000 of the Government detailing the implementation of the Law on Foreign Investment in Vietnam; Pursuant to Decree No. 27/2003/ND-CP dated March 19, 2003 of the Government amending and supplementing some articles of Decree No. 24/2000/ND-CP dated July 31, 2000 detailing the implementation of the Law on Foreign Investment in Vietnam;
After reaching consensus with the Ministry of Finance, the Ministry of Trade guides the calculation of accumulated depreciation value in the computation of imports of fixed assets of enterprises with foreign invested capital as follows:
Supplement Clause 2.1.6 of Circular No. 22/2000/TT-MCT dated December 15, 2000 of the Ministry of Trade as follows:
1"2.1.6. Provisions on the calculation of accumulated depreciation value in the computation of imports of machinery, equipment, and transportation means to form fixed assets:
- In cases where machinery, equipment, and transportation means are imported as stated in the economic and technical justification, but the investment capital allocated for importation does not match the actual importation. The calculation must comply with the provisions on the value of imported machinery, equipment, and transportation means exceeding the allocated import value specified in Clause 2.1.1.
- In cases where machinery, equipment, and transportation means are imported to expand production capacity: the enterprise may use accumulated depreciation capital to calculate the importation of machinery, equipment, and transportation means for expanding production capacity after being confirmed by the investment licensing authority that the expansion has been registered. The calculation must comply with the provisions of Clause 2.1.2.
- In cases where machinery, equipment, and transportation means are imported to replace or update technology: the enterprise may use accumulated depreciation capital to import new machinery, equipment, and transportation means to replace old ones. The calculation must comply with the provisions of Clause 2.1.3.
- In cases where technological progress leads to the emergence of new auxiliary equipment that better serves business operations: the enterprise may use accumulated depreciation capital to import new equipment if it aligns with the production objectives stipulated in the Investment License; if the new equipment changes the production objectives, then the investment licensing authority must adjust the production objectives before importation.
- When enterprises import machinery, equipment, and transportation means to form fixed assets using accumulated depreciation capital, they must strictly adhere to the planned use of the accumulated depreciation fund registered with the tax authority. Accumulated depreciation capital used in the process of importing machinery, equipment, and transportation means to form fixed assets shall not be included in the committed investment capital."
This Circular takes effect fifteen days from the date of publication in the Official Gazette.
2This Circular takes effect fifteen days after its publication in the Official Gazette.
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Deputy Minister Vice Minister |
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(Signed) |
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Le Danh Vinh |
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