Headlines 01/03/2021 14:47 CH

Six changes must be notified by enterprises to the Ministry of Finance

Lê Ánh

On February 24, 2021, the Ministry of Finance promulgates the Decree No. 12/2021/ND-CP on amendments to the Decree No.89/2013/ND-CP providing instructions on appraisal prescribed in the Law on Prices.

According to this document, appraisal enterprises must notify the Ministry of Finance of the following changes:

 (1) Changes may lead to:

+ Ineligibility for certificates of conformance to appraisal service business regulations (briefly called certificates).

+ The need for reissuance of certificates prescribed in clause 2 of Article 13 in the Decree No. 89/2013;  

 (2) List of appraisers obtaining registration for appraisal practicing at enterprises;

 (3) Enterprises created after corporate division, splitting, merger, amalgamation and ownership transformation;

 (4) Enterprises dissolved, bankrupt or suspended from business; of their own free will, terminating their appraisal services; changing shareholders/capital contributing members that are appraisers practicing at enterprises;

 (Current regulations only prescribe dissolution, bankruptcy, temporary suspension or voluntary termination of appraisal services).

 (5) Enterprises whose business certificates or enterprise certificates are revoked.

 (6) Enterprises with appraisers (this is a new regulation):

+ banned from practicing appraisal services at these enterprises;

+ prosecuted for criminal liabilities;

+ convicted of one of economic or title-related crimes arising from financial, price or appraisal activities to the extent of serving administrative sanctions in the form of education at communes, wards, townships, or being sent to compulsory detoxification or education centers;   

+ convicted of at least serious economic crimes; committing violations against financial laws to the extent of having to serve administrative sanctions.

Decree No. 12/2021/ND-CP is entering into force as of May 1, 2021.

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