Asset Valuation in Criminal Proceedings: What Are the Bases?

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To be specific, asset valuation in criminal proceedings must rely on at least one of the asset valuation criteria stipulated in Article 15 of Decree 30/2018/ND-CP. For the asset valuation criteria stipulated in Clause 1, Article 15 of Decree 30/2018/ND-CP, in cases with 02 or more valuation criteria, the Valuation Council should, based on the nature, characteristics of the assets to be valued, and the collected information related to the assets, determine the priority order of the valuation criteria.

Specifically, the asset valuation criteria stipulated in Clause 1, Article 15 of Decree 30/2018/ND-CP are defined as follows:

- The market price of the asset is the common transaction price on the market for the type of asset to be valued or a similar asset at the time and location for which the valuation is requested. Common market transactions refer to legal and public buying and selling activities in the market. An asset is considered to have common transactions when there are at least 03 similar assets with buying, selling transactions in the market. The common transaction price collected is the actual transaction price of successful deals, the listed price of producers, businesses, individuals trading in goods and services, offered prices, bid prices, declared prices, winning bid prices, prices recorded on invoices, sales contracts, etc.

- The price stipulated or decided by the competent state agency is the price still in effect as determined by the competent state agency at the time the valuation is requested. If the state agency stipulates a maximum price, minimum price, or price range, the specific price should be applied as determined by the competent business units at the time of the valuation request.

- The price provided by valuation enterprises is the price determined based on valuation results in the Valuation Certificate and the Valuation Report of the valuation enterprise still effective for the asset being valued.

- Price in legal documents and records regarding that type of asset provided by competent authorities or the requesting entity.

- Other bases of the asset's price or value are information and documents that help determine the asset's value, such as the best possible utilization that is likely to yield the highest, most efficient value; the supply and demand relationship of the asset; price evaluations of the asset by competent state agencies or organizations/individuals with knowledge about the asset; testimonies and documents of the parties related to the asset; the price of similar assets in other cases that have been previously valued by the Valuation Council; the price of similar assets collected from official electronic information websites of agencies or organizations domestically and internationally during extended data collection by the Valuation Council.

Additionally, valuation criteria for prohibited goods follow the regulations in Clause 2, Article 15 of Decree 30/2018/ND-CP.

- For price determination provided by valuation enterprises stipulated at point c, Clause 2, Article 15 of Decree 30/2018/ND-CP, follow point c, Clause 2 of this Article.

- For determining the regional or global market price of prohibited goods stipulated at point d, Clause 2, Article 15 of Decree 30/2018/ND-CP, the price should be provided by competent organizations established and operating under the laws of the respective countries, officially announced or provided on their official electronic information websites as per the laws of the respective countries.

The price levels from the listed information sources should be prioritized for determination at the time and location of the asset to be valued as per the valuation request from the competent proceeding authority.

- If at the requested valuation time, the price level of the asset or similar assets could not be collected, apply the price at the nearest time but no more than 02 years (24 months) from the valuation request. The competent proceeding authority must specify the valuation request time in the valuation request document;- If at the requested valuation location, the price level of the asset or similar assets could not be collected, extend the information collection scope based on principles of selecting collection sites from near to far with similar market characteristics to the requested valuation site. If the price level of the asset or similar assets within Vietnam's territory could not be collected, extend the collection to the regions and globally on official electronic information websites of production and business organizations;- When collecting price levels in these cases, the collected prices must be adjusted to the valuation time and location based on the valuation method decided by the Valuation Council under the provisions of Article 11 of this Circular.

See the full regulation at Circular 30/2020/TT-BTC effective from June 1, 2020.

Thu Ba

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