BASIS FOR ASSET VALUATION IN CRIMINAL PROCEEDINGS LATEST

Table of Contents

1. Basis for asset valuation in criminal proceedings latest

2. Method of asset valuation in criminal proceedings

1. Basis for asset valuation in criminal proceedings latest

According to Article 15 of Decree 30/2018/ND-CP detailing the establishment and operation of asset valuation councils; the order and procedures for asset valuation in criminal proceedings are as follows:

“1. Asset valuation that is not prohibited goods must be based on at least one of the following bases:

a) Market price of the asset;

b) Price prescribed and decided by competent state agencies;

c) Price provided by valuation enterprises;

d) Price in documents and records attached to the asset to be valued (if any);

d) Other bases for the price or value of the asset to be appraised.

2. The valuation of assets that are prohibited goods must be based on at least one of the following bases in order of priority:

a) The purchase and sale price collected on the unofficial market at the time and place where the prohibited goods are requested to be appraised or in another locality;

b) The price stated on the contract or sales invoice or import declaration of prohibited goods (if any);

c) The price provided by the valuation enterprise;

d) The market price in the region or the world of prohibited goods announced or provided by competent agencies and organizations;

d) The listed price, the price stated on the contract or sales invoice or import declaration of similar assets permitted to be traded, circulated, or used in Vietnam;

e) The market price in the region and the world of similar assets permitted to be traded, circulated, or used in these markets;

g) Other bases for determining the value of the property to be appraised are provided by the competent authority conducting criminal proceedings and shall be responsible for the accuracy and reliability of these bases.

3. The prices from the information sources specified in Clauses 1 and 2 of this Article shall be determined at the time and place where the property is requested to be appraised. In case of collecting information sources on the price of the property at another time or in another locality, the price must be adjusted appropriately to the time and place where the property is requested to be appraised.”

2. Method of appraising property in criminal proceedings

The method of appraising property in criminal proceedings according to Article 17 of Decree 30/2018/ND-CP stipulates in detail the establishment and operation of the property appraisal council; the order and procedures for appraising property in criminal proceedings are as follows:

– Based on the type of property; information and characteristics of the property; price survey situation, collecting information related to the assets to be appraised; The Valuation Council conducts asset valuation according to the standards on valuation, general valuation methods for goods and services and the standards and valuation methods prescribed in specialized laws related to the assets to be appraised.

– For some specific cases, asset valuation is carried out according to the provisions of Clause 1, Article 17 of Decree 30/2018/ND-CP, and at the same time proceeds as follows:

+ Unused assets: The Valuation Council determines the price of the asset according to the price of the identical new asset or similar new asset (if there is no identical asset);

+ Used assets: The Valuation Council determines the price of the asset based on determining the actual value of the asset;

+ Assets that are partially destroyed or damaged; Property that is completely destroyed or damaged but can still be restored to its original condition before it was destroyed or damaged: In case the competent authority conducting the proceedings requests to determine the value of the damage of property that is partially or completely destroyed or damaged, the Valuation Council shall determine the price based on the cost of restoring the original condition of the property before it was partially or completely destroyed or damaged;

+ Lost or misplaced property; property that is completely destroyed or damaged and cannot be restored to its original condition before it was destroyed or damaged: The Valuation Council shall determine the price of the property according to the property records based on the information and documents collected about the property to be valued;

+ Counterfeit property: The Valuation Council shall determine the price of the property according to the price of genuine goods or the price of similar property according to the provisions of the 2015 Penal Code;

+ Property that is not commonly traded on the market; Assets are precious metals, precious stones, relics, antiques or objects of cultural, religious, archaeological, architectural or historical value: The Valuation Council determines the value of the asset based on appraisal results, opinions of competent authorities and experts in this field or the value recorded in the asset’s records and documents.