From June 6, 2019, periodic inspections for valuation enterprises are limited to a maximum of once every 3 years

00:59, 10/07/2024

This is a noteworthy content stipulated in Circular 25/2019/TT-BTC amending and supplementing certain articles of Circular 323/2016/TT-BTC dated December 16, 2016 by the Ministry of Finance regulating the inspection, supervision, and evaluation of the quality of valuation activities.

Section 3 Article 1 Circular 25/2019/TT-BTC has amended and supplemented Section 1 Article 8 of Circular 323/2016/TT-BTC regarding the periodic inspection time for valuation activities. The time has been shortened as follows: The periodic inspection time for a valuation enterprise is reduced to a maximum of once every 3 years, starting from the date the enterprise is issued a Certificate of Eligibility for Valuation Services by the Ministry of Finance, or from the date of the most recent previous inspection.

Inspection Period for Valuation Enterprises, Circular 25/2019/TT-BTC

Illustrative Image (source: internet)

Accordingly, compared to the regulations in Circular 323/2016/TT-BTC, the inspection period for a valuation enterprise as regulated in Circular 25/2019/TT-BTC is shortened by one year. The previous regulation stated: "Periodic inspection is conducted for a valuation enterprise at least once every 4 years, starting from the date the enterprise is issued a Certificate of Eligibility for Valuation Services by the Ministry of Finance, or from the date of the most recent previous inspection" (Section 1, Article 8 of Circular 323).

In addition, the Ministry of Finance has also stipulated the conditions for unannounced inspections as follows:

Unannounced inspections are conducted for valuation enterprises in the following cases:

- When there are signs of legal violations concerning valuation activities;- Upon the request of the Minister, the heads of equivalent agencies;- To resolve complaints and denunciations within its jurisdiction as stipulated by the law on complaints and denunciations.

Note that a valuation enterprise that has undergone an unannounced inspection will not undergo a periodic inspection or a combined periodic and unannounced inspection in that same year. The Ministry of Finance will notify enterprises of inspection decisions.

For more details, refer to Circular 25/2019/TT-BTC, which takes effect on June 6, 2019.

Thu Ba

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