On March 7, 2018, The Government issued Decree No. 30/2018/ND-CP detailing the establishment and operation of Property Valuation Council; sequence, property valuation procedures in criminal procedure. The Decree took effect since May 1, 2018.

Accordingly, Decree No.30/2018/ND-CP stipulates the basis for valuation of property as follows:

For non-prohibited property, it must be based on at least one of the following grounds:

– Market price of the property;

– Prices set by competent state agencies;

– Price provided by the price-appraising enterprise;

– Price in the documents and dossiers enclosed with property to be valuated (if any);

– Other bases on the price or value of the property to be valued.

For prohibited property, it must be based on at least one of the following priority bases:

– The purchase price collected on the informal market at the time and place where the property is a prohibited goods requested for valuation or in another locality;

– The price stated in the contract or purchase invoice or the import declaration of the prohibited property (if any);

– Price provided by the price-appraising enterprise;

– Market prices in the region or the world of prohibited goods notified or provided by competent agencies or organizations;

– Listed prices, prices stated in contracts or purchase invoices or import declarations of similar properties permitted for business, circulation or use in Vietnam;

– Market prices in the region and in the world of similar property are allowed to trade, circulate and use in these markets;

– Other bases to help determine the value of assets to be valued by the competent bodies conducting criminal procedures and take responsibility for the accuracy and reliability of these bases.

Apart from the property valuation bases mentioned above, Decree 30/2018/ND-CP specifies the prices from the above mentioned sources of information as determined at the time and place where the property is valued. Where the source of information on the property price is collected at another time or in another locality, such price level shall be adjusted in accordance with the time and place where the property is valued.

As a result, the Decree No.30/2018/ND-CP has been supplemented and completely refined the grounds for property valuation in criminal procedure, thereby support better for the implementation of investigating and handling criminal acts as well as having important implications in the execution of criminal judgments.