The Bases for Valuation of Assets in Criminal Proceedings in Vietnam

Lê Hải

10:14, 11/07/2024

The Ministry of Finance of Vietnam has just issued Circular 43/2018/TT-BTC providing guidelines for several articles of Decree 30/2018/ND-CP on the establishment and operation of the Asset Valuation Council; procedures and process for asset valuation in criminal proceedings.

The asset valuation in Vietnam is carried out based on the following grounds:

- The market price of the asset, which is the commonly traded price on the market at the time of valuation and at the location where the valuation is requested;

- The price stipulated and decided by competent state authorities, which is the price determined by the authorities that is in effect at the time the valuation is requested;

- The price provided by price appraisal enterprises, which is determined according to the results of the appraisal in the Appraisal Certificate and the Appraisal Result Report;

- The price in legal documents and records concerning the type of asset provided by competent authorities or the authority requesting the valuation;

- Other grounds for the price or value of the asset to be valuated.

Circular 43/2018/TT-BTC takes effect from June 25, 2018, which annulled Circular 55/2006/TT-BTC.

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