Approved by the Ministry of Finance of the Republic of Moldova of August 18, 1996 No. 03/6-26/219

Regulations on procedure for write-off of machines, the equipment, the vehicles and other values carried to property, plant and equipment (funds)

I. GENERAL PROVISIONS

1.1. This provision determines procedure for write-off of machines, the equipment, vehicles and other property relating to property, plant and equipment (funds) (further - fixed assets).

1.2. Provided by this provision it is obligatory for state-financed organizations and organizations.

1.3. From balance of organizations fixed assets can be charged off:

a) become useless owing to physical wear, accidents, natural disasters, violations of normal service conditions;

b) obsolete;

c) in connection with construction, expansion, reconstruction and modernization.

1.4. Fixed assets are subject to write-off only when it is impossible or economically inexpedient to recover them and also when they cannot be in accordance with the established procedure implemented, transferred to other economic agents.

1.5. The organizations and the organizations consisting on the government budget can charge off fixed assets worth up to 10000 leu for unit with the consent of the head of organization, and worth over 10000 leu for unit - with the consent of higher body (the ministry, department).

1.6. The organizations and the organizations consisting on local budgets can charge off fixed assets worth up to 5000 leu for unit with the consent of the head of organization, and worth over 5000 leu for unit - with the consent of higher body of local public authority.

II. PERMANENT WORKERS OF THE COMMISSION

2.1. For determination of unfitness of fixed assets, impossibility or inefficiency of carrying out their recovery repair, and also for execution of necessary documentation on write-off of fixed assets in organizations the order of the head creates the permanent commissions which part are:

- head or his deputy;

- chief accountant or his deputy;

- chiefs of the relevant divisions (services);

- representatives of public organizations.

2.2. Permanent commissions:

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