Replacing Circular 45 from 2027: what Vietnam fixed asset accountants should prepare now
Written by the S4 Consulting Oracle NetSuite team · Reviewed by Lạc Phạm, Solution Architect, S4 Consulting · Updated 27 Oct 2026
A draft circular replacing Circular 45/2013/TT-BTC was presented at a workshop on 14 October 2026, with an intended effective date of 1 January 2027, a shift from prior approval to post-audit control and closer alignment with international standards. It is still a draft, so accountants cannot configure systems around new figures yet, but they can prepare everything that does not depend on the final text: clean asset cards, complete source documents, change history and a book of accounting versus tax differences. For companies on Oracle NetSuite, S4 eSuite FAM keeps this data on each asset card.
What does the draft replacing Circular 45 propose?
According to reports from the workshop held by the Accounting and Auditing Supervision Department of the Ministry of Finance on 14 October 2026, the draft has 4 parts and 30 articles, covering the management, use, accounting and tax treatment of fixed assets. The main directions discussed were:
- Post-audit instead of prior approval: companies would no longer ask the finance authority before changing depreciation periods or methods, but would have to justify those changes when inspected.
- Closer to IFRS: recognition and presentation move nearer to international financial reporting standards.
- Accounting versus tax differences: a mechanism to track the gap between book depreciation and tax-deductible depreciation.
- Assets held for sale: reclassification in the spirit of IFRS 5.
- Technology assets: coverage of assets used for digital transformation.
These are directions stated at the workshop, not enacted rules. Specific figures such as the recognition threshold or useful-life ranges per group have not been officially published and may change when the final circular is issued.
What did Circular 30/2025 change in Circular 45?
The most recent amendment was Circular 30/2025/TT-BTC, issued on 30 May 2025 and effective from 15 July 2025. It added clause 12 to Article 9: tangible fixed assets temporarily without a use at enterprises wholly owned by the State and subject to restructuring under Decision 1468/QĐ-TTg may defer or suspend depreciation while unused, while still respecting the useful-life range.
That amendment is narrow and applies to a specific group of enterprises. For most companies, the core rules of Circular 45 (daily proration, Appendix I ranges, adjusted declining balance) remain in force until the replacement takes effect. The current calculations are explained in fixed asset depreciation under Circular 45 on NetSuite.
Get your asset data ready before 2027
Change history on every card, useful-life range checks and a book versus tax depreciation table, inside NetSuite.
What is not settled, and what should accountants avoid guessing?
Every quantitative parameter is still open. Accountants should not change useful lives, recognition thresholds or asset group lists in their systems based on rumors about new figures. Doing so would distort 2026 depreciation, which is still governed by Circular 45, and create differences that later need reversing.
The practical approach is to separate two tasks. Configuration (thresholds, ranges, coefficients) is updated once the official text is out. Data (cards, documents, history) is cleaned now, because any version of the rules will need it. A good system lets you change configuration by effective date without editing every card.
Why does post-audit control demand better data?
Post-audit means the company decides first and explains later. Without an approval letter from the finance authority, the history on the asset card becomes the evidence: who changed what, when, why, how many times, and the charge before and after.
Illustrative example under current rules: a machine costs VND 600,000,000 with a 10-year life, so the annual charge is VND 60,000,000. After 4 years, accumulated depreciation is VND 240,000,000 and net book value is VND 360,000,000. Management reassesses and shortens the total life to 8 years, leaving 4 years, so the new charge is 360,000,000 / 4 = VND 90,000,000 per year (VND 7,500,000 per month), adding VND 30,000,000 of expense each year. In an inspection the company needs to show the assessment, the effective date and proof that this was a permitted change. If that information lives in emails and spreadsheets, explaining it becomes painful.
How should you start tracking accounting versus tax depreciation differences?
Start now, because current tax rules already create differences. Decree 320/2025/NĐ-CP, Article 10, clause 6, lists non-deductible depreciation: assets not used for business, assets without ownership documents (except finance leases), charges above the permitted rate, fully depreciated assets, and the portion relating to cost above VND 1.6 billion per car for passenger cars with 9 seats or fewer (excluding cars used for passenger transport, tourism, hotels, demonstration and test drives).
Illustrative example: a 7-seat car costing VND 2,000,000,000, depreciated over 8 years, used by management.
| Item | Monthly (VND) | Annual (VND) |
|---|---|---|
| Book depreciation (2 billion / 96 months) | 20,833,333 | 250,000,000 |
| Non-deductible portion (0.4 / 2 of cost) | 4,166,667 | 50,000,000 |
| Deductible for corporate income tax | 16,666,666 | 200,000,000 |
If this difference is calculated with every depreciation run instead of at the annual tax finalization, the company already holds the data the draft’s difference-tracking mechanism points toward. Standard NetSuite FAM provides Alternate Methods for a tax depreciation book, but the Decree 320 rules must be configured by the company.
Which fixed asset data should be cleaned before Circular 45 is replaced?
The list below does not depend on the final text and fits naturally into the 2026 year-end count:
| Area | Action | Why |
|---|---|---|
| Physical count | Match cards to physical assets, resolve surpluses and shortages | Cards without assets distort every later report |
| Asset cards | Complete group, in-service date, life, department | New configuration only works on complete cards |
| Funding source | Record business capital, welfare fund or science and technology fund | Affects how depreciation is posted and disclosed |
| Addition documents | Attach document numbers, dates and ownership evidence | Without evidence, depreciation is not deductible |
| Ledger tie-out | Reconcile the register with accounts 211x, 214x, 242 | Balances carried into new rules must be clean |
| Tax difference book | Separate non-deductible amounts per asset | Prepares for difference tracking |
For tie-out methods, see the fixed asset register S21-DN and B09 note; for counting tools on site, see year-end counts of site tools under account 242.
How can an ERP help, and where does S4 eSuite FAM fit?
An ERP helps by keeping history and allowing configuration changes by effective date. S4 eSuite FAM, a fixed asset module built for Vietnamese accounting that runs inside NetSuite, records how many times each card’s life or method has changed, checks useful-life ranges by group when a card is created, calculates the deductible portion on every run, keeps a book versus tax difference table, and reconciles the register with each ledger account. Asset groups and ranges are configuration data, so when the replacement circular takes effect, companies update the catalogue rather than editing each card.
See the S4 eSuite FAM fixed asset module for NetSuite and the underlying NetSuite financial localization for Vietnam. If you are selecting an implementation consultant, our guide on finding NetSuite implementation support in Vietnam may help. To review your asset data before 2027, contact S4 Consulting.
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Frequently asked questions
What will replace Circular 45/2013/TT-BTC?
The Ministry of Finance is consulting on a replacement circular, discussed at a workshop on 14 October 2026 with an intended effective date of 1 January 2027; it is binding only once issued.
Will companies still need approval to change depreciation periods?
According to the directions stated at the workshop, no: companies would change periods or methods without prior approval, under post-audit control.
What did Circular 30/2025/TT-BTC change?
It added clause 12 to Article 9, allowing wholly state-owned enterprises under Decision 1468/QĐ-TTg to defer or suspend depreciation of assets temporarily without a use.
Should we change depreciation settings to match the draft now?
No. Clean card data, documents and history now, and update thresholds, ranges and coefficients only after the official circular is issued.
References
- Vietnam Financial Times - Revising Circular 45/2013/TT-BTC, 14 Oct 2026 (in Vietnamese)
- LuatVietnam - Circular 30/2025/TT-BTC amending Circular 45/2013/TT-BTC (in Vietnamese)
- Thu vien Phap luat - Circular 45/2013/TT-BTC on fixed asset depreciation and amendments (in Vietnamese)
- Thu vien Phap luat - Non-deductible depreciation under Decree 320/2025 (in Vietnamese)
- Oracle NetSuite Help - Creating Alternate Methods (Tax Depreciation Methods)
