What information on prices and appraisals should be disclosed under the Law on Prices 2023? What are the forms of price information disclosure and price appraisal in Vietnam?
- What information on prices and appraisals should be disclosed under the Law on Prices 2023?
- Vietnam: Are agencies, units, organizations, and individuals responsible for disclosing information?
- What are the forms of price information disclosure and price appraisal in Vietnam?
- What are the contents of state management of prices and valuation in Vietnam?
What information on prices and appraisals should be disclosed under the Law on Prices 2023?
Pursuant to Article 6 of the Law on Prices 2023 stipulates that information on prices and appraisals should be disclosed as follows:
State agencies and state affiliates shall disclose:
- Guidelines, schemes, and reports on measures to manage and regulate prices approved by competent state agencies; legislative documents on prices;
- Documents on pricing of goods and services included in the list of goods and services priced by the State, except for state reserves;
- Lists of eligible valuation enterprises and valuers; lists of valuation enterprises that are suspended or have their certificates of eligibility for valuation services revoked; lists of persons with revoked valuer cards.
Suppliers of goods and services shall disclose:
- Specific prices of goods and services they determined within the price brackets, maximum prices, and minimum prices promulgated by competent state agencies;
- Prices of goods and services subject to price declarations as prescribed in Clause 2 Article 28 of this Law;
- Prices of goods and prices subject to price listing
Valuation enterprises shall disclose:
- Lists of their valuers;
- Basic information on their operations, including certificates of eligibility for valuation services and the number of certificates issued annually;
- Price lists of valuation services.
What information on prices and appraisals should be disclosed under the Law on Prices 2023? What are the forms of price information disclosure and price appraisal in Vietnam?
Vietnam: Are agencies, units, organizations, and individuals responsible for disclosing information?
Pursuant to the provisions of Clause 4, Article 6 of the Law on Prices 2023, the following regulations:
Disclosure of information on prices and valuation
....
4. Agencies, units, organizations, and individuals responsible for disclosing information prescribed in this Article shall ensure accuracy, truthfulness, and punctuality and take responsibility for the disclosed contents. The disclosure of information does not apply to information included in the list of state secrets and cases where disclosure is forbidden as prescribed by laws.
Information and communications about policies of laws on prices and price management and regulation mechanisms shall ensure objectivity and truthfulness as prescribed by laws.
According to the above regulations, agencies, units, organizations and individuals that are responsible for disclosing information must be responsible for the disclosure of information.
What are the forms of price information disclosure and price appraisal in Vietnam?
Pursuant to the provisions of Clause 5, Article 6 of the Law on Prices 2023, the form of price information disclosure and price appraisal is as follows:
- The disclosure of information prescribed in this Article shall be posted on the websites (if any) of agencies, units, organizations, and individuals or be disclosed under other appropriate forms.
- For the documents on pricing of goods and services included in the list of goods and services priced by the State, except for state reserves, the information shall be disclosed by sending written documents to relevant agencies, units, organizations, and individuals and updated to databases on prices.
For the specific prices of goods and services they determined within the price brackets, maximum prices, and minimum prices promulgated by competent state agencies; prices of goods and services subject to price declarations as prescribed in Clause 2 Article 28 of Law on Prices 2023, the information shall be disclosed via updates to databases on prices.
What are the contents of state management of prices and valuation in Vietnam?
Pursuant to the provisions of Article 12 of the Law on Prices 2023 as follows:
State management of prices and valuation
1. Promulgation and implementation of legislative documents on prices and valuation.
2. Price management and regulation of the State.
3. Market price summary, analysis, and forecast; development and operation of databases on prices.
4. Management of valuation operations; organization of valuation operations of the State.
5. Management of training and advanced training in prices and valuation.
6. Inspection of compliance with laws and handling of violations against laws on prices and valuation.
7. Settlement of complaints and denunciations concerning prices and valuation.
8. International cooperation in prices and valuation.
Accordingly, the state management of prices and valuation is regulated according to the above provisions.
The Law on Prices 2023 will take effect from July 1, 2024.
LawNet