Has trực tiếp bóng đá k+ Circular on trực tiếp bóng đá k+ evaluation of activities, establishment of occupational risk provisions, and reporting policies of valuation enterprises in Vietnam been issued yet?
Has trực tiếp bóng đá k+ Circular on trực tiếp bóng đá k+ evaluation of activities, establishment of occupational risk provisions, and reporting policies of valuation enterprises in Vietnam been issued yet?
On May 16, 2024, trực tiếp bóng đá k+ Minister of Finance issued Circular 38/2024/TT-BTC stipulating trực tiếp bóng đá k+ evaluation of operations of valuation companies; setting up professional risk provisions, and reporting policies on valuation activities of valuation companies and expenses for trực tiếp bóng đá k+ appraisal council's valuation activities.
Circular 38/2024/TT-BTC specifies in detail:
- Point e, Clause 10, Article 14 of trực tiếp bóng đá k+ Price Law 2023 on trực tiếp bóng đá k+ evaluation of operations of valuation companies;
- Points e and h, Clause 2, Article 53 of trực tiếp bóng đá k+ Price Law 2023 on setting up professional risk provisions and reporting policies on valuation activities of valuation companies;
- Clause 1, Article 65 of trực tiếp bóng đá k+ Price Law on expenses related to trực tiếp bóng đá k+ valuation activities of trực tiếp bóng đá k+ appraisal council.
Has trực tiếp bóng đá k+ Circular on trực tiếp bóng đá k+ evaluation of activities, establishment of occupational risk provisions, and reporting policies of valuation enterprises in Vietnam been issued yet? (Image from trực tiếp bóng đá k+ Internet)
What are trực tiếp bóng đá k+ contents of trực tiếp bóng đá k+ evaluation of valuation companies' operations in Vietnam?
Article 3 of Circular 38/2024/TT-BTC stipulates trực tiếp bóng đá k+ evaluation of valuation companies' operations as follows:
Evaluation of valuation companies' operations
1. Evaluation contents
a) Maintaining conditions for valuation operations;
b) Compliance with trực tiếp bóng đá k+ legal provisions on valuation and fulfilling trực tiếp bóng đá k+ obligations of valuation companies;
c) Participating in coordinating trực tiếp bóng đá k+ implementation, construction, and deployment of legal normative documents on prices and valuation drafted and organized by trực tiếp bóng đá k+ Ministry of Finance;
d) Participating in coordinating international cooperation activities;
dd) Participating in coordinating state management activities on prices and valuation conducted by Ministries, sectors, and local agencies;
e) Participating in coordinating scientific research activities in trực tiếp bóng đá k+ field of valuation.
- Evaluation period from January 01 to December 31 of trực tiếp bóng đá k+ year preceding trực tiếp bóng đá k+ evaluation.
From April 15 to May 31 each year, trực tiếp bóng đá k+ Price Management Department organizes trực tiếp bóng đá k+ evaluation of valuation companies that meet trực tiếp bóng đá k+ following conditions:
a) Having a certificate of eligibility for valuation services before trực tiếp bóng đá k+ evaluation period;
b) Satisfying conditions for valuation company operations for 6 months or more during trực tiếp bóng đá k+ evaluation period;
c) Satisfying conditions for valuation company operations during trực tiếp bóng đá k+ evaluation period.
Valuation companies are responsible for submitting reports as stipulated in Point a, Clause 1, Article 5 of this Circular as a basis for trực tiếp bóng đá k+ evaluation of valuation companies' operations.
- trực tiếp bóng đá k+ evaluation is carried out by scoring based on trực tiếp bóng đá k+ evaluation contents from trực tiếp bóng đá k+ information sources:
a) Information, data in reports stipulated in Point a, Clause 1, Article 5 of this Circular;
b) Information, data obtained during state management of valuation regarding valuation companies and appraisers;
c) Feedback from ministries, sectors, local agencies, organizations, and individuals (if any).
Evaluation contents based on detailed scores for individual criteria components (detailed in Appendix I issued with this Circular).
trực tiếp bóng đá k+ evaluation aims to improve trực tiếp bóng đá k+ quality of valuation companies' operations. trực tiếp bóng đá k+ evaluation results are publicly announced by trực tiếp bóng đá k+ Price Management Department on trực tiếp bóng đá k+ Ministry of Finance's website before June 30 each year. trực tiếp bóng đá k+ evaluation results do not reflect trực tiếp bóng đá k+ quality of specific appraisal certificates or valuation reports from appraisers or valuation companies.
Thus, trực tiếp bóng đá k+ evaluation of valuation companies' operations includes:
- Maintaining conditions for valuation operations;
- Compliance with trực tiếp bóng đá k+ legal provisions on valuation and fulfilling trực tiếp bóng đá k+ obligations of valuation companies;
- Participating in coordinating trực tiếp bóng đá k+ implementation, construction, and deployment of legal normative documents on prices and valuation drafted and organized by trực tiếp bóng đá k+ Ministry of Finance;
- Participating in coordinating international cooperation activities;
- Participating in coordinating state management activities on prices and valuation conducted by Ministries, sectors, and local agencies;
- Participating in coordinating scientific research activities in trực tiếp bóng đá k+ field of valuation.
What is trực tiếp bóng đá k+ rate for setting up professional risk provisions if trực tiếp bóng đá k+ valuation company in Vietnam does not purchase professional liability insurance for valuation?
Article 4 of Circular 38/2024/TT-BTC stipulates trực tiếp bóng đá k+ professional risk provisions for valuation companies as follows:
Professional risk provisions for valuation companies
Valuation companies that do not purchase professional liability insurance for valuation must set up professional risk provisions with an annual rate of 1% of valuation service revenue (excluding value-added tax), deducted at trực tiếp bóng đá k+ end of trực tiếp bóng đá k+ fiscal year and accounted for as a provision for liabilities.
If trực tiếp bóng đá k+ professional risk provisions of a company exceed 10% of trực tiếp bóng đá k+ average valuation service revenue (excluding value-added tax) over trực tiếp bóng đá k+ last 3 years, trực tiếp bóng đá k+ company must revert trực tiếp bóng đá k+ excess amount to other income.
Companies must develop and issue internal regulations for managing and using professional risk provisions.
If a company ceases valuation operations, any unused provision balance must be accounted for as other income.
Thus, trực tiếp bóng đá k+ rate for setting up professional risk provisions when valuation companies do not purchase professional liability insurance for valuation is 1% of trực tiếp bóng đá k+ valuation service revenue (excluding value-added tax).
