Accounting for Trucks Over 1.6 Billion VND: Essential Guide

Anh Tuan, a transport business owner in Hai Ba Trung District, Hanoi, recently purchased a brand new Hyundai HD320 truck worth over 2 billion VND. The joy of owning a new truck was short-lived as he faced the challenge of accounting for it. “How do I properly account for a truck over 1.6 billion VND? Is it different from accounting for a cheaper truck?” he wondered.

If you share the same concerns as Anh Tuan, let’s delve into the details of accounting for trucks over 1.6 billion VND in the article below!

Accounting for Trucks Over 1.6 Billion VND: A Detailed Analysis

What is a Truck Over 1.6 Billion VND?

As the name suggests, these are trucks with a purchase value of 1.6 billion VND or more. Trucks in this segment are often heavy-duty trucks, specialized vehicles, tractor-trailers,… from renowned brands like Hyundai, Hino, Isuzu,…

Why Should You Care About the 1.6 Billion VND Threshold?

According to current regulations on Corporate Income Tax, trucks valued at 1.6 billion VND or more are considered high-value fixed assets. This leads to some differences in accounting compared to lower-valued vehicles.

Price List for Trucks Over 1.6 Billion VND (Reference)

Note: Prices may vary depending on the time, dealer, and promotional programs. For detailed information, you can directly contact reputable truck dealers like Thai Phong Auto in Hanoi.

Important Notes on Accounting for Trucks Over 1.6 Billion VND

• Depreciation: Trucks over 1.6 billion VND are depreciated using the straight-line method over 10 years.
• Taxes: Pay attention to regulations regarding input Value Added Tax (VAT), registration tax,…
• Documents: Keep all documents related to the purchase, registration of the vehicle,… for accounting and tax finalization purposes.

Hyundai HD320 truck model

Frequently Asked Questions About Accounting for Trucks Over 1.6 Billion VND

Can Trucks Over 1.6 Billion VND Be Expensed?

Yes, the depreciation expense of trucks over 1.6 billion VND can be included in the company’s reasonable expenses.

What’s Special About the Accounting Records for Trucks Over 1.6 Billion VND?

In addition to the usual documents, it’s necessary to include documents related to determining the vehicle’s value, the source of funds for the purchase,…

How to Account for Trucks Purchased on Installment?

Accounting for vehicles purchased on installment must comply with financial accounting regulations related to long-term liabilities.

Where to Buy Quality Trucks at Good Prices in Hanoi?

If you are looking for a reliable place to buy trucks in Hanoi, visit Thai Phong Auto – an authorized dealer of leading truck brands. With a showroom system across districts such as Cau Giay, Long Bien, Ha Dong,… Thai Phong Auto is committed to bringing you absolute satisfaction.

Thai Phong Auto showroom in Hanoi

Similar Products

Besides trucks over 1.6 billion VND, Thai Phong Auto also offers a variety of other truck models such as:

• Light trucks
• Medium trucks
• Dump trucks
• Tractor-trailers
• …

For more details about our products and services, please visit our website https://xetaihanoi.edu.vn/ or contact our hotline: 1900 xxxx.

Conclusion

Accounting for trucks over 1.6 billion VND requires carefulness and understanding of relevant legal regulations. Hopefully, this article has provided you with useful information. If you have any further questions, feel free to leave a comment below or contact us for more detailed advice!