Procedure for Receiving and Implementing Asset Valuation Requests in Criminal Procedures

14:55, 10/07/2024

Recently, the Minister of Finance issued Circular 30/2020/TT-BTC providing guidance on specific provisions of Decree 30/2018/ND-CP dated March 07, 2018 of the Government of Vietnam detailing the establishment and operation of the Asset Valuation Council; the procedures and formalities for asset valuation in criminal proceedings, and Decree 97/2019/ND-CP amending and supplementing several articles of Decree 30/2018/ND-CP dated March 07, 2018 of the Government of Vietnam detailing the establishment and operation of the Asset Valuation Council; the procedures and formalities for asset valuation in criminal proceedings.

Implementation of Asset Valuation Requirement in TTHS, 30/2020/TT-BTC

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According to Circular 30/2020/TT-BTC, upon receiving a valuation request, the agency required to conduct the valuation shall immediately review the records and documents to clearly determine the valuation request, the necessary information related to the asset under valuation request, and the time for returning the valuation results; based on that, shall immediately issue a written response to the requesting agency regarding any unclear contents in the request documents and valuation request records (if necessary). In the event of refusal to form a Valuation Council, within 05 working days from the date of receiving the valuation request documents, the recipient agency must issue a written notice stating the reasons for the refusal to the competent authority for legal proceedings.

For valuation assets that are real estate or real estate projects, the agency required to conduct the valuation must review and discuss with the requesting agency to clarify the valuation times associated with land use planning, urban design (if any).

The time for receiving the valuation request is calculated from the moment the agency required to conduct the valuation receives the written request for asset valuation along with the complete records as stipulated in Article 4 of Circular 30.

However, in cases where the records are incomplete, within 03 working days from the date of receiving the valuation request documents, the agency required to conduct the valuation must issue a written request to the competent authority for legal proceedings to supplement the necessary records and documents. In such cases, the time for receiving the valuation request is calculated from the moment the agency required to conduct the valuation receives the complete supplementary records and documents.

More details can be found in: Circular 30/2020/TT-BTC which takes effect from June 1, 2020.

Thu Ba

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