Decree 78/2024/ND-CP guiding the 2023 Pricing Law on valuation assessment: Valuation practice registration dossier effective from July 01, 2024
Decree 78/2024/ND-CP guiding the Price Law 2023 on valuation assessment
On July 1, 2024, the Government of Vietnam issued Decree 78/2024/ND-CP stipulating in detail several articles of the Price Law on valuation assessment.
Decree 78/2024/ND-CP stipulates in detail Articles 45, 49, and 54 of the Price Law 2023 regarding the dossiers, order, procedures for registering the profession of valuation assessment; dossiers, order, procedures for granting and re-granting the Certificate of eligibility for business in valuation services; the suspension of valuation services business, and the revocation of the Certificate of eligibility for business in valuation services.
Decree 78/2024/ND-CP applies to the following subjects:
- Individuals holding a valuation appraiser card, valuation appraisers;- Valuation enterprises;- State management agencies on valuation and other agencies, organizations, and individuals related to valuation activities.
Effective date of Decree 78/2024/ND-CP:
- Decree 78/2024/ND-CP takes effect from July 1, 2024.- Decree 78/2024/ND-CP details the implementation of several articles of the Price Law 2023 on valuation, and Decree 12/2021/ND-CP amending and supplementing several articles of Decree 89/2013/ND-CP dated August 6, 2013 by the Government of Vietnam detailing the implementation of several articles of the Price Law 2023 on valuation, which will be void from July 1, 2024.- Decree 78/2024/ND-CP will abolish Article 12 and remove the phrase "valuation assessment" from Clause 2 Article 15 of Decree 151/2018/ND-CP amending and supplementing several Decrees stipulating investment and business conditions under the state management of the Ministry of Finance.
Decree 78/2024/ND-CP guiding the Price Law 2023 on valuation assessment (Internet image)
Dossiers for registering the profession of valuation assessment from July 1, 2024
Based on Article 3 of Decree 78/2024/ND-CP, the dossiers for registering the profession of valuation assessment from July 1, 2024, include:
- Application form for registering the profession of valuation assessment at the enterprise according to Form No. 01 specified in the Appendix attached to Decree 78/2024/ND-CP;- Authenticated copy or valid electronic copy of the document proving the updating of knowledge on valuation in accordance with the regulations of the Ministry of Finance, matching the registered professional field, and still valid at the time of registration unless the valuation appraiser card was issued less than one year before the time of registration;- Criminal record certificate No. 1 in paper form issued by the competent authority not more than 06 months from the time of registration or authenticated copy or valid electronic copy of this certificate, or electronic criminal record certificate No. 1 issued on the VNeID electronic identification and authentication application not more than 06 months from the time of registration;- Copy of the enterprise registration certificate in case the individual holding the valuation appraiser card is registering to practice as a legal representative, Director, or General Director of the enterprise;- Confirmation of actual working time at valuation enterprises, state management agencies on price and valuation according to Form No. 02 specified in the Appendix attached to Decree 78/2024/ND-CP or authenticated copy or valid electronic copy of the social insurance book showing the social insurance contribution process at valuation enterprises, state management agencies on price and valuation unless the individual was notified as a valuation appraiser according to the Price Law 2023;- Copy of the labor contract between the enterprise and the individual holding the valuation appraiser card unless the individual holding the card is the legal representative of the enterprise.
Note:
- Individuals holding the valuation appraiser card are responsible for the information declared in the registration dossier.- Valuation enterprises and other related organizations and individuals involved in confirming information in the registration dossier of the individual holding the valuation appraiser card are responsible before the law for the accuracy of the confirmed information.
Persons not eligible to practice valuation assessment
Based on Clause 2, Article 45 of the Price Law 2023, persons not eligible to practice valuation assessment include:
- Officers, officials according to the law on officials; officers, professional soldiers, defense workers in agencies and units under the People's Army; officers, non-commissioned officers of operations, officers, and non-commissioned officers of technical expertise, police workers in agencies and units under the People's Public Security;- Persons prohibited from practicing valuation assessment under legally effective court judgments or decisions; persons being prosecuted, charged, or tried under the law on criminal proceedings; persons sentenced for economic or functional crimes related to finance, price, or valuation that have not been erased; persons undergoing administrative or educational measures at the commune, ward, or commune-level town; persons sent to compulsory detoxification centers or compulsory education institutions;- Persons whose valuation appraiser card is being revoked based on administrative punishment decisions by competent authorities according to the law on administrative violations handling.
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