Cases examining elements forming prices in Vietnam

Cases examining elements forming prices in Vietnam (Internet image)

1. Cases examining elements forming prices in Vietnam

Cases examining elements forming prices according to Article 26 of the Law on Prices 2012 is as follows:

(1) Competent State agencies examine elements forming prices for goods or services prescribed in (2) in the following cases:

- When competent State agencies decide on price stabilization, price determination;

- When prices having irregular changes and at request of the Prime Minister, Ministers, Heads of ministerial-level agencies, Presidents of provincial People’s Committee.

(2) Goods or services must examine elements forming prices including:

- Goods or services being defined prices by the State;

- Goods or services implement price stabilization;

- Other goods or services when their prices having irregular changes and at request of the Prime Minister, Ministers, Heads of ministerial-level agencies, Presidents of provincial People’s Committee.

2. Competence and duty of examining elements forming prices in Vietnam

Competence and duty of examining elements forming prices under Article 27 of the Law on Prices 2012 are as follows:

- The Ministry of Finance shall assume the prime responsibility for and coordinate with Ministries, ministerial-level agencies, provincial People’s Committees to examine elements forming prices for:

= Goods or services under price determination competence of the Government, the Prime Minister, the Minister of Finance;

= Goods or services in the List of goods or services implementing price stabilization stipulated in article 17 of this Law.

- Ministries, ministerial-level agencies shall assume the prime responsibility for and coordinate with the Ministry of Finance, provincial People’s Committees to examine elements forming prices for goods or services under price determination competence of ministers, heads of ministerial-level agencies.

- Provincial People’s Committees examinate elements forming prices for:

= goods or services under price determination competence of provincial People’s Committees;

= Goods or services in the List of goods or services implementing price stabilization of production or business organizations and individuals in their localities.

3. Examination of price formulation elements in Vietnam

According to Article 13 of Decree 177/2013/ND-CP, the examination of price formulation elements is as follows:

- In case of examination of price formulation elements, the authority and responsibility for examination the price formulation elements shall comply with the provisions in Article 26 and 27 of the Law on Prices 2012.

- Order of examination of price formulation elements:

= 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;

= 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;

= Conducting the examination of price formulation elements;

= Announcing the conclusion of examination of price formulation elements;

- Time limit for examination of price formulation elements;

= The time limit for a 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.

Quoc Dat

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