The procedures for inspecting the compliance with laws regarding prices starting from July 1, 2024 in Vietnam
What are procedures for inspecting the compliance with laws regarding prices implemented from July 1, 2024 in Vietnam? – Mr. Khoa (Lao Cai)
The procedures for inspecting the compliance with laws regarding prices starting from July 1, 2024 in Vietnam
On May 16, 2024, the Minister of Finance issued Circular 28/2024/TT-BTC, which regulates the sequence and procedures for inspecting compliance with laws regarding prices and valuation.
According to Article 8 of Circular 28/2024/TT-BTC, the procedure for inspecting compliance with laws regarding prices is implemented as follows:
- The inspection team leader is responsible for organizing the development of an inspection plan and reporting to the specialized agency and assigned units in writing. The inspection plan, along with the inspection decision, must be notified to the subject of inspection no later than 5 days before announcing the inspection decision (except in cases of inspections directed by the competent authority or when violations or signs of violations are discovered).
The notification must include the following basic information:
+ Time and place of announcing the inspection decision
+ Participants in the meetings
+ Reporting content and a list of reports, records, and documents serving the inspection
+ Other relevant information (if any).
- During the announcement session, the inspection team leader announces or delegates in writing to a team member to fully announce the content of the inspection decision publicly. This includes stating the purpose, requirements, inspection plan, content, working methods, and the records, documents, and reports that the subject of inspection must provide to the inspection team.
In case the subject of inspection fails to comply with the requirements of the inspection team after being notified in writing by the inspection team leader, the inspection team leader will record and report to the competent authority for appropriate actions as prescribed.
- The inspection team conducts the inspection based on the records, documents, and reports provided by the subject of inspection according to the requirements of the inspection team.
- During the inspection process, the inspection team leader prepares a draft inspection record based on the reports of the team members.
The inspection record includes information about the characteristics, general situation of the subject of inspection, inspection content, conclusions, recommendations, and requirements of the inspection team, following the prescribed template in Appendix IV of this Circular. The inspection record must be prepared within the time frame specified in Clause 2, Article 69 of the Law on prices.
The inspection record must include the opinions of the subject of inspection. In cases where the subject of inspection is absent, intentionally evades, or refuses to sign the inspection record, a representative of the local authority where the inspection is carried out or a witness must sign and confirm the preparation of the inspection record, clearly stating the subject of inspection's refusal to sign the inspection record. If the signatures of these individuals are not obtained, the record will still be made, stating the reasons.
- During the inspection process, if violations of administrative regulations in the field of prices or valuation are detected, the inspection team leader or a team member prepares an administrative violation record for processing according to the provisions of the law.
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What are the specific issues that need to be addressed in the report on the results of inspecting compliance with laws regarding prices and valuation in Vietnam?
According to Article 9 of Circular 28/2024/TT-BTC, the provisions regarding the report on the results of inspecting compliance with laws regarding prices and valuation are as follows:
Report on the results of inspection:
1. The inspection team prepares the report on the results of inspection and submits it to the specialized agency and assigned units along with the inspection record and relevant documents for compilation, reporting, and record keeping as required.
2. The report on the results of inspection shall follow the prescribed template in Appendix V of this Circular and must specify the following issues:
a) Content and results of the inspection.
b) Proposed recommendations for economic, administrative, and legal measures (if any) concerning the subject of inspection.
3. Each recommendation for measures must specify the incident, basis, cause, responsibility, form of handling, deadline for compliance; recommend the competent authority to monitor, urge, and supervise the implementation of the inspection conclusions, recommendations, and decisions on inspection (if any); propose recommendations for amending or supplementing policy mechanisms, legal documents (if any).
Therefore, the report on the results of inspecting compliance with laws regarding prices and valuation must specify the following issues:
- Content and results of the inspection.
- Proposed recommendations for economic, administrative, and legal measures (if any) concerning the subject of inspection.
What does the documentation for inspecting compliance with laws regarding prices and valuation include in Vietnam?
According to Clause 1 Article 11 of Circular 28/2024/TT-BTC, the documentation for inspecting compliance with laws regarding prices and valuation includes the following documents:
- Decision on issuing the inspection plan; Inspection decision; Documentation provided by the inspection team and other relevant materials.
- Documents that provide evidence for the information forming the inspection conclusions for each subject of inspection.
- Inspection record, Administrative violation record (if any), Report on the results of inspection.
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