CIRCULAR guiding a number of articles of Decree No. 89/2013 / ND-CP on valuation

 THE FINANCIAL

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No: 38/2014 / TT-BTC

 

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

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Hanoi, March 28, 2014

                                                                  

CIRCULARS

Guiding a number of articles of Decree No. 89/2013 / ND-CP of August 6, 2013 of Government

regulations detailing the implementation of some articles of the Law on valuation prices

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Pursuant Price June 20, 2012;

Pursuant to Decree No. 89/2013 / ND-CP of August 6, 2013 of the Government detailing the implementation of some articles of the Law on the valuation price;

Pursuant to Decree No. 215/2013 / ND-CP of December 23, 2013 of the Government regulating the functions, tasks, powers and organizational structure of the Ministry of Finance;

At the request of the Price Management Department,

Minister of Finance issued a circular guiding a number of articles of Decree No. 89/2013 / ND-CP of August 6, 2013 of the Government detailing the implementation of some articles of the Law on valuation prices .

Chapter I

GENERAL RULES

Article 1. Scope

This Circular provides for managing valuation practice for corporate valuation, databases on valuation, valuation activities of state agencies and the cost for the operation Valuation .

Article 2. Subjects of application

This Circular applies to the price appraisers; business valuation; State agencies have the competence and cadres, civil servants tasked valuation; agencies, organizations and individuals to appoint agencies and organizations that take part in the Council of valuation; agencies, organizations and individuals have assets valuation or requests, suggestions valuation; professional organizations on valuation; State management agencies on valuation and agencies, organizations and individuals related to valuation.

Chapter II

SPECIFIED

Article 3. Registration valuation practice for the price appraisers

1. Appraisers price registration is not done valuation practice in the same time from two corporate valuation upward.

2. Business registration filing valuation practice for the price appraisers stipulated in Point c Paragraph 1 Article 14 of Decree No. 89/2013 / ND-CP of August 6, 2013 of the Government stipulating implementation of some articles of the Law on valuation prices (hereinafter referred to as Decree No. 89/2013 / ND-CP), including:     

a) Registration Valuation practice in enterprises under the form provided in Annex 01 attached herewith certified by the legal representative of the enterprise or the legal representative of the company now authorized in writing;

b) Copy of certified appraisers price tag by the Ministry of Finance;

c) Copies of certified true copies or writing of the termination of labor contracts at the old enterprises in case of price appraisers registered practitioner moves to practice in other enterprises;

d) Certificate of professional knowledge about valuation for price appraiser practice prescribed by the Ministry of Finance;
e) Documents proving residence permitted in Vietnam in accordance with the law on entry, exit and residence of foreigners in Vietnam longer minimum period 02 months for the price appraisers foreigner;

e) Copies of the labor contract and the labor contract annex (if any) in business valuation appraisers cost of registration to practice; The other relevant documents (if any).

g) price appraisers must take responsibility for the information stated in the registration dossier valuation practice. The legal representative of the business or person authorized in writing shall have to consider and review records ensure price appraisers qualified registered professional practice in their organizations and certify on the certificate of registration to practice in business valuation appraisers each price. No confirmation in case the price appraiser shall not practice in enterprise valuation in accordance with the law on valuation.

h) Where an enterprise valuation of additional registration appraiser price shall comply with the provisions in paragraph 2 of this article. Where registered appraiser price reduction, enterprise valuation attached certified copy or certified true copy text on the termination of labor contracts of enterprise for the price appraisers registered decrease .

i) Within 15 (fifteen) working days from the date of receipt 01 (a) dossier by enterprises set up under the Ministry of Finance issued Notice eligible valuation practice. Appraisers are allowed to practice price valuation after Announcement qualified practitioners in business valuation valuation of the Ministry of Finance.

Article 4. To grant certificates of qualified business valuation services

Profile granting or certificate granting qualified business valuation services include the documents specified in Article 14 of Decree No. 89/2013 / ND-CP.
Where registered business valuation services for enterprise branch of valuation under the provisions of Article 41 of the Law Price, enterprise valuation attached certified copy of registration certificate of branches and authorization documents of enterprise valuation to the branch. The written authorization must specify branch business valuation performed partly or entire job done appraisal. Branch business valuation work performed partial valuation certificates not issued valuation. Branch business valuation performed the entire work was released valuation valuation certificate.

The application for and granting certificates eligible business valuation services in the form prescribed in Appendix 02 and Appendix 03 of this Circular.

Now responsible for the accuracy of documents granting or certificate granting qualified business valuation services.

Now up 01 (a) dossier submitted directly or by post to the Ministry of Finance (the Price Management Department).

Where it is necessary to clarify the information in the dossier, the Ministry of Finance (the Price Management Department) have the right to demand or price appraisers now explain or provide documents for the inspection service, reconciliation, verification process work and other information on file.

Where records are eligible, the Finance Ministry (the Price Management Department) for consideration to grant, re-qualification certificate business valuation services within the period specified in Article 15 of Decree No. 89 / 2013 / ND-CP. Certificate of qualified business valuation services under Form in Appendix 04 of this Circular.

Where the enterprise no additional explanatory documents or documents explaining not fully prove the information in the registration dossier is authentic practice, the Ministry of Finance (the Price Management Department) may refuse to grant, re-issue certificates qualified business valuation services. In case of refusal, the Ministry of Finance (Department of Price Management) replied in writing and stating the reason.

 

Điều 5. Quản lý đủ điều kiện kinh doanh dịch vụ thẩm định giá

Trong quá trình hoạt động, doanh nghiệp thẩm định giá phải duy trì và đảm bảo các điều kiện được cấp Giấy chứng nhận đủ điều kiện kinh doanh dịch vụ thẩm định giá; không sửa chữa, tẩy xóa nội dung ghi trong Giấy chứng nhận đủ điều kiện kinh doanh dịch vụ thẩm định giá; không cho thuê, cho mượn, cầm cố, mua bán, chuyển nhượng và sử dụng Giấy chứng nhận đủ điều kiện kinh doanh dịch vụ thẩm định giá vào các mục đích khác mà pháp luật cấm hoặc không quy định; chịu sự kiểm tra, thanh tra và chấp hành quyết định xử lý của cơ quan nhà nước có thẩm quyền về việc đảm bảo điều kiện kinh doanh dịch vụ thẩm định giá và việc sử dụng Giấy chứng nhận đủ điều kiện kinh doanh dịch vụ thẩm định giá.

Doanh nghiệp thẩm định giá phải thông báo bằng văn bản cho Bộ Tài chính khi có những thay đổi quy định tại Điều 17 Nghị định số 89/2013/NĐ-CP. Bộ Tài chính tiếp nhận, cập nhật và rà soát điều kiện kinh doanh dịch vụ thẩm định giá của doanh nghiệp thẩm định giá để xem xét ban hành văn bản trả lời hoặc quyết định đình chỉ, thu hồi Giấy chứng nhận đủ điều kiện kinh doanh dịch vụ thẩm định giá theo quy định. Quyết định đình chỉ hoặc thu hồi Giấy chứng nhận đủ điều kiện kinh doanh dịch vụ thẩm định giá theo mẫu tại Phụ lục số 05 và Phụ lục số 06 kèm theo Thông tư này.

Việc đăng ký đủ điều kiện cung cấp dịch vụ xác định giá trị doanh nghiệp cho các doanh nghiệp 100% vốn nhà nước chuyển đổi thành công ty cổ phần thực hiện theo quy định của Bộ Tài chính.

Bộ Tài chính công khai trên Cổng Thông tin điện tử Bộ Tài chính:

a) List of business valuation, corporate branch eligible valuation business valuation services and price appraisers qualified valuation practice;
b) list of business valuation, corporate branch valuation suspended business valuation services, revoked certificates are eligible business valuation services or be warned about business conditions during business valuation, corporate branch valuation uncertainty practice conditions prescribed valuation;

c) list of business valuation services suspended business valuation, termination of business valuation services.

Minister of Finance authorizes the Price Management Department shall receive, check, check, notice the list of enterprises eligible valuation business valuation services, assessment roll practice of price and organize the issuance, re-issuance, suspension, revocation of certification qualified business valuation services.

 

Article 6. The professional liability insurance, setting up and using the reserve fund professional risk

Business valuation to buy professional liability insurance valuation or establish reserve funds to create professional risk indemnity payment source of damage (if any) by the enterprise valuation caused to users Valuation of the results. The use of evaluation results is customer price valuation or the relevant third party valuation due to customer identification and valuation is now recorded in the contract agreed valuation.
Business valuation is insured professional liability valuation of insurance business organizations, enterprise branch of non-life insurance operations abroad legally in Vietnam in accordance with law.
Where the insurance business organizations, enterprise branch of non-life insurance operations abroad in Vietnam not provide insurance services Professional liability valuation, business valuation can be bought protection Professional liability insurance valuation of insurance business abroad as prescribed by law. The purchase professional liability insurance valuation of insurance business overseas must comply with the regulations of Vietnam law on insurance business.

Insurance costs are charged to cost of enterprise business valuation under the provisions of the law on corporate income tax.

Appropriation risk reserve fund career
a) Where an enterprise valuation not purchase professional liability insurance valuation is required to establish a reserve fund occupational hazards with an annual minimum deduction of 1% on service revenue valuation ( turnover without value added tax), was recorded as a provision for cases of pay and are charged to cost of doing business in accordance with law.
b) When the reserve fund occupational risk have fiscal year-end balance equivalent to 10% of service revenues valuation of the financial year, no further provision of risk reserves for year career there. Where the financial year-end business is not used or not used up the reserve fund occupational risk, enterprises reversal reserve fund balance professional risk and into the next fiscal year to implement setting. In case of termination of operation enterprise valuation, enterprises must implement the reversal of provision expenses deducted occupational risk and pay enterprise income tax as prescribed.
Damages
a) As to compensation for damage caused by corporate valuation caused to users resulting enterprise valuation, the valuation was held insurance business, enterprise branch of non-life insurance abroad active in Vietnam compensation under the insurance contract commitments. Where an enterprise valuation not buy insurance, now using reserve funds occupational risk to pay damages.
b) Where the amount required to pay compensation for more than the amount to be compensated under the insurance contract or reserve fund larger occupational risks of the enterprise, then the deficit will be charged to business costs as prescribed law.

 

Article 7 Storage and mining valuation profile

Valuation records must be archived in paper and electronic data since the release date valuation certificate.

a) For storage of paper:

Business Valuation on file must valuation, including valuation contract and contract liquidation minutes valuation (if any), written proposals valuation, reporting assessment results valuation, valuation certificates, all documents and information necessary to form the valuation result, other documents as specified in Standard Valuation Vietnam and the provisions of law.

Valuation records archived in paper must have system are classified, arranged in the order confidential records arising time and according to contract valuation or written requests, Valuation Conference.

b) For electronic archives:

Profile valuation put on electronic storage system must have and include the basic content in the statement of valuation, valuation certificates, annexes and accompanying spreadsheet (if any).

The duration of storage is at least 10 (ten) years for the valuation records in paper and permanent storage for electronic data. Business valuation should take measures to maintain the security, safety and integrity, have access to and recover valuation of records stored within.

Valuation records are exploited, used in the following cases:

a) According to the decision of the competent persons of the enterprise valuation on the basis of ensuring the confidentiality obligations stipulated in this article.

b) Where a request for inspection, inspection and settlement of complaints and disputes in valuation activity; request the People's Court, People's Procuratorate, the investigating bodies, inspection bodies, the State Audit, the Ministry of Finance and other competent agencies as prescribed by law.

Profile valuation has expired archives, be destroyed as prescribed by law.

The legal representative of the enterprise valuation shall be responsible to organize the preservation, storage, destruction of records valuation in accordance with the law, including the case when the enterprise dissolution Is.

 

Article 8. Reporting Regime

For business valuation

a) periodic reports: Annually, the enterprise valuation to send reports on Form Report on the business and operational indicators in evaluating the price specified in Appendix No. 07 issued together herewith to the Finance Ministry (the Price Management Department). The deadline for submitting the report at the latest on March 31 after five years of reports.

b) Irregular reports: Enterprise Valuation send extraordinary reports written at the request of the Ministry of Finance or the competent authority in accordance with law.

For professional organizations on valuation

a) periodic reports: Annually, professional organizations on valuation sending reports on Form Report on the activities and operational direction of professional organizations on valuation specified in Annex No. 08 issued with this Circular to the Ministry of Finance (the Price Management Department). The deadline for submitting the report on 31 May at the latest 01 years after the year of the report.

b) Reports Unexpected professional organization of valuation send extraordinary reports to the Ministry of Finance (if any) or upon request in writing from the Ministry of Finance in the case test, inspection and settlement complaints and denunciations and handle administrative violations and disputes in the field of valuation.

Business Valuation, branch enterprise valuation, professional organizations on valuation responsible for the accuracy and truthfulness of the statements.

Article 9 Quality control activities Valuation

Business Valuation develop procedures and perform quality control operations of the business valuation as defined in System Valuation Standards Vietnam, the guidance of the Ministry of Finance (if any).

Article 10. Database Valuation

State management agencies at the central level of prices (including the Ministry of Finance and Ministry management sectors) and local (DOF) is responsible for:

a) Develop, exploit and operate the database system of valuation service of state management in the field of industry, local and within the scope of duties and exercise their powers; provide information (if any) for organizations, individuals when required under the provisions of law;

b) Every year, the budget estimate for the construction service, exploitation and operation of the database system of valuation the competent authority for approval as stipulated by the Law on State Budget. Funds allocated in the annual budget estimates of the unit in accordance with the law.

Business Valuation responsible build a database system of valuation for the operation of the business professional.

Content databases on valuation at central and local, including:

a) The legal text of the price, valuation and related legislation;

b) Information and documents on the asset price valuation under the provisions of the legislation on valuation;

c) The situation of inspection, examination and settlement of complaints and denunciations and handle violations of legislation on valuation;

d) other relevant information.

Sources of information and documents for the construction of a database of valuation include historical data, existing data, in particular:

a) Information and documents on asset valuation performed by the enterprise valuation or by the competent state authority shall evaluate the offer price;

b) Information and documents issued by the State Administration of prices surveyed, surveys, data collection and management by state agencies provided;

c) Information and documents bought from the units and individuals to provide information.

For state management agencies at the central and price locally, additional resources by enterprises registered price and declaration; information and documents by the enterprise valuation provided in accordance with the law and other cases necessary to meet the requirements of the State management.

The Ministry of Finance is responsible for the construction, mining and central operating national database on prices and valuation ensure compatibility and connectivity with the database system and the appraisal price Price of the ministries, branches, localities and other sources; guide the collection, updating, providing information on prices and valuation service management tasks state and at the request of organizations and individuals in accordance with law; implementing information security regime prescribed by law.

The managing ministries, sectors; Department of Finance of the provinces and cities directly under the central government and now have responsibility valuation report, updated information on the database system national valuation.

 

Article 11 Valuation of state agencies

The order and procedures for valuation of the State comply with Section 4 of Chapter II of Decree No. 89/2013 / ND-CP and instructions:

The posting of public information needs of state assets valuation as stipulated in Clause 1, Article 23 of Decree No. 89/2013 / ND-CP made on electronic portal of state property agency water needs assessment, or the Ministry of Finance, or electronic information page of the Price Management Department, or on the media of mass communication.

The ministries, central agencies, provincial People's Committee decided to state property of great value as stipulated in Clause 1, Article 23 of Decree No. 89/2013 / ND-CP.

Depending on the valuation of assets to ensure requirements and progress assessment, valuation procedures prescribed in Clause 1, Article 25 of Decree No. 89/2013 / ND-CP can be reduced step plan valuation.

Report valuation result, the written reply valuation results include the following basic content:

a) Information on asset valuation (asset name, legal characteristics and specifications);

b) Valuation Time;

c) Purpose of valuation;

d) The legal basis for valuations;

e) Principles, valuation basis;

e) Valuation Method;

g) Results of valuation;

h) The limitations of valuation results and recommendations (if any).

The decision on the establishment of valuation Council, Council Meeting Minutes Valuation, Conclusions on valuation results in the form prescribed in Annex No. 09, No. 10 and No. 11 enclosed with this Circular.

Article 12. Cost of service of valuation of state agencies

Cost of service valuation activities of State agencies defined in Clause 1, Article 32 of Decree No. 89/2013 / ND-CP shall be included in the annual budget estimates of the competent authority under the provisions law.

The content and level of spending in service of valuation of government agencies:

a) Spending on domestic and foreign fee (if any) and organize conferences conducted under the provisions of the Finance Ministry;

b) Sub-night work, overtime work related to asset valuation carried out in accordance with the law;

c) Sub-lease inspection organization performing the assessment of economic situation - technical and quality ratio of assets, valuation of assets leased (if any) as agreed in the contract;

d) Payment for the purchase of information, translation of documents, purchase of office supplies, gasoline expenditures, rented vehicles to serve the valuation of assets according to the actual incurred by each specific case according to current regulations;

e) For the expenses related to valuation activities not specified in points a, b, c, d, Clause 2 of this article, the heads of the implementing agencies Valuation consider and decide the competence or proposal with the state authorities have jurisdiction to review decisions in accordance with the law.

Each year, government agencies competent valuation budget estimate for the operation of the agency valuation process approved by competent authorities. Where in the year incurred unscheduled tasks as decided by the competent authority, be made additional budget as stipulated by the law on state budget management.

The expenditure budget payment service of the valuation of state agencies comply with the current law on state budget management, ensuring the principle of saving, efficiency and waste combat.

 

Chapter III

TERMS ENFORCEMENT

Article 13. Effect

This Circular takes effect as from 15 May 2014. annul Circular No. 17/2006 / TT-BTC of March 13, 2006, guiding the implementation of Decree No. 101/2005 / ND-CP August 3, 2005 of the Government on the valuation.

Transitional Provisions on implementation under Article 33 of Decree No. 89/2013 / ND-CP of August 6, 2013 of the Government detailing the implementation of some articles of the Law on valuation prices.

Article 14.- Organization of implementation

MoF Price Management Department is responsible for coordinating with ministries, branches and People's Committee and the Department of Finance of the provinces and cities directly under the central government and implemented business guide price appraisers of this Circular.

Price Management Department, Business Valuation, prices and appraiser organizations and individuals concerned shall implement this Circular.

In the process of implementation, if any problems arise, organizations and individuals to the Ministry of Finance to study the amendment and supplement accordingly. /.

 

Recipients:
- Prime Minister, the Deputy Prime Minister;

- Goverment office;

- Office of the Secretary General;
- Office of the President,

- Congress office;
- The ministries, ministerial-level agencies, agencies under the Government;
- Supreme People's Court;

- People's Procuracy, the Supreme;
- State Audit;
- Central Committee of the Vietnam Fatherland Front;
- Central agencies of the Union;
- People's Council, the Department of Finance of the provinces and cities directly under the Central Government;
- Announcement;
- Document Examination Department - Ministry of Justice;
- Government Website;

- Chamber of Commerce and Industry of Vietnam;

- The Appraisal VN;

- The enterprise valuation;
- The units of the Ministry;
- Website Ministry of Finance;
- Save: VT; QLG (VT, CSG).

KT. MINISTER

DEPUTY

Signed

Tran Van Hieu