Promulgation of the Vietnamese Valuation Standards for the valuation of intangible assets

Promulgation of the Vietnamese Valuation Standards for the valuation of intangible assets

* Scope of Regulation:

- This Vietnam Valuation Standard stipulates and provides guidance on the valuation of identifiable intangible assets according to the valuation laws. The valuation of unidentifiable intangible assets is carried out according to the regulations and guidelines in the Vietnam Valuation Standards on Business Valuation.

- The intangible assets referred to in this standard are identifiable intangible assets that simultaneously satisfy the following conditions:

+ There is tangible evidence of the intangible asset’s existence;

+ The intangible asset possesses income-generating potential;

+ The value of the intangible asset can be quantified in monetary terms.

* Subjects of Application:

- Valuation practitioners and valuation enterprises providing valuation services according to the valuation laws.

- Organizations and individuals conducting state valuation activities according to the valuation laws.

- Organizations and individuals requesting valuation services, third parties using valuation reports under valuation service contracts (if any).

* Classification of Intangible Assets:

Intangible assets include the following types:

- Intellectual property and intellectual property rights according to intellectual property laws.

- Rights bringing economic benefits to the parties as specifically stipulated in civil contracts according to the law, for example, commercial rights, mineral exploitation rights.

- Non-contractual relationships bringing economic benefits to the parties, relationships with customers, suppliers, or other entities, such as customer lists, databases.

- Other intangible assets satisfying the conditions specified in Clause 2, Article 1 of this standard.

Circular 37/2024/TT-BTC takes effect from July 1, 2024, and replaces Circular 06/2014/TT-BTC promulgating Vietnam Valuation Standard No. 13.

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