Determination of asset valuation costs in civil and administrative proceedings in Vietnam

Determination of asset valuation costs in civil and administrative proceedings in Vietnam

Asset valuation costs include one or more of the following expenses:

- Costs for members of the Valuation Council, including:

+ Fees regulated in the Schedule of Certain Procedural Costs issued under Ordinance No. 05/2024/UBTVQH15;

+ Travel expenses;

+ Accommodation expenses;

+ Subsistence allowance;

- Costs for collecting and analyzing information about the object to be valued;

- Costs for consumable materials;

- Costs for using services;

- Other costs.

Costs for collecting and analyzing information on the object of valuation in Vietnam

Costs for collecting and analyzing information on the object of valuation include one or more of the following expenses:

- Costs for general identification of the asset to be valued;

- Costs for planning the asset valuation;

- Costs for conducting real-world surveys and collecting information related to the asset valuation;

- Costs for analyzing information related to the asset valuation.

Costs for consumable materials in Vietnam

The Valuation Council, in the valuation process, if using materials, shall determine the costs for consumable materials. These costs are determined based on the volume of valuation work, regulations for each object of valuation, and standards suitable for the valuation field.

In cases where legal provisions on the standards for consumable materials do not exist, the Valuation Council, based on relevant regulations and conditions for material usage to serve valuation, shall determine the costs. The Valuation Council is responsible for the appropriateness of the determined consumable material costs and is required to notify the proceeding agency that requested the asset valuation when carrying out procedures stipulated in Clause 1, Article 26 of Ordinance No. 05/2024/UBTVQH15.

More details can be found in Ordinance No. 05/2024/UBTVQH15.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE