Vietnam: 04 steps to organize the examination of price formulation elements

In case of examination of price formulation elements, the authority and responsibility for examination of the price formulation elements shall comply with the provisions in Article 26 and 27 of the Law on Prices of Vietnam. According to Clause 2 Article 13 of Decree No. 177/2013/ND-CP of Vietnam’s Government, the order of examination of price formulation elements include 04 steps as follows:

Step 1: The competent state authority having the right to check the price formulation elements shall prepare a written request for examination of price formulation elements and send it to the organizations and individuals requested for examination of price formulation elements;

Step 2: The competent state authority examination the price formulation elements shall have request in writing the organizations and individuals to provide necessary documents for the examination of price formulation elements;

Step 3: Conducting the examination of price formulation elements;

Step 4: Announcing the conclusion of examination of price formulation elements.

Time limit for examination of price formulation elements:

- The time limit for an examination is 30 working days maximally after the competent agency makes a decision on examination of price formulation elements. Where it is necessary to extend the examination of price formulation elements, the competent agency must inform in writing stating the reasons for extension to the organizations and individuals to be examined; the time limit for extension shall not exceed 15 working days.

- Within 15 working days after the end of examination of price formulation elements, the competent agency is responsible for issuing and sending the written announcement of conclusion of examination to the organizations and individuals and agencies concerned.

Based on the result of the examination, the competent state authority shall execute the sanction for violations under the Government’s regulations on sanction of administrative violations in the field of price. Where the acts of violation have signs of criminal law violations, the inspecting agency shall transfer the dossier to the competent authority for sanction under regulations of law.

View other provisions at Decree No. 177/2013/ND-CP of Vietnam’s Government, effective from January 01, 2014.

Thu Ba

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