The Audit Office has published a regulation on how properties and assets will be valued when places leased for tourism purposes are handed back to the state upon the expiration of their lease duration, after deducting depreciation.

According to the regulation published by the Audit Office, the purpose of formulating such a regulation is to clarify the procedures followed in calculating the due value when handed back to the state upon lease expiration, and determining the amount of money the state will pay to the lessee as the value of those assets.

The regulation states that details must be included for places in operational status, places where services have ceased by the time the lease expires, and assets that are excluded during valuation.

If it is a place in operational status, the movable and immovable property and assets directly related to providing services for the business operated at the location, which are included in the inventory list submitted and maintained up to that duration under the lease agreement, will be calculated.   

According to the regulation, for assets that the lessee has the option to take back upon the expiration of the lease period for the place leased for tourism purposes, the Ministry of Tourism must notify the lessee to remove those items within 90 days.

The Audit Office stated that a specific party must be appointed to carry out the work of calculating the value after deducting depreciation. Furthermore, the report must be prepared in a manner determined by the Auditor General's Office. After preparing the report, it must be submitted to that office.

The regulation states that although this regulation has been published, if any matter arises outside of this regulation, it will be decided by the Auditor General's Office.