HOW LONG IS THE MAXIMUM DURATION OF VALUATION RECORDS STORAGE?

Valuation is quite an important activity and appears more and more today. Accordingly, in asset valuation activities in Vietnam, the appraiser will prepare and collect during the process of evaluating the price of a certain type of asset and the appraisal dossier plays a role extremely important role in helping appraisers have sufficient grounds to conduct property assessments.

So what is a valuation document? What is the maximum period for storing valuation records? Join SunValue to find out through the article below:

What is a valuation dossier?

The valuation dossier includes all necessary information and documents to serve the asset valuation process to form the final valuation result. Documents in the valuation dossier must be classified, arranged in order, and displayed on paper, film, or other information carriers according to current law provisions. The components of each valuation dossier may vary based on the purpose of valuation and the type of asset to be appraised.

Are valuation records kept?

Under the provisions of Clause 1, Article 7, Circular 38/2014/TT-BTC has regulations on storing and exploiting valuation records as follows:

Valuation documents must be archived in paper and electronic data from the date of issuance of the Valuation Certificate.

a) For paper archives:

The price appraisal enterprise must keep in the price appraisal file, including the price appraisal contract and record of liquidation of the price appraisal contract (if any), written request for price appraisal, and report on appraisal results. valuation, valuation certificate, all documents and information necessary to form valuation results, and other documents as prescribed in Vietnam Valuation Standards and the provisions of law.

Valuation records stored on paper must be systematic, classified, and arranged into separate sets of records in order of time of occurrence and according to each valuation contract or written request or proposal. Price appraisal proposal.

b) For electronic storage:

Valuation records put into electronic storage must be systematic and include basic contents in the valuation results report, valuation certificate, attached appendices, and spreadsheets (if any). "

Thus, valuation documents must be archived in paper and electronic data from the date of issuance of the Valuation Certificate by current law. Requirements for each storage case are specified differently, specifically as above.

What is the maximum period that valuation records are stored?

According to the provisions of Clause 2, Article 7 of Circular 38/2014/TT-BTC, amended by Clause 6, Article 1 of Circular 60/2021/TT-BTC, the storage period of valuation records is prescribed as follows:

The minimum storage period is 10 (10) years for valuation documents from the date of issuance of the valuation certificate. Valuation enterprises must take measures to maintain the confidentiality, safety, integrity, accessibility, and recovery of valuation records during the storage period.

Accordingly, the minimum storage period is 10 (10) years for valuation documents from the date of issuance of the valuation certificate. Thus, current law does not stipulate the maximum storage period for valuation documents.

In what cases can valuation documents that have been archived be reused?

Under Clause 3, Article 7, Circular 38/2014/TT-BTC has regulations on the exploitation and use of valuation documents as follows:

Valuation documents are exploited and used in the following cases:

a) According to the decision of the competent person of the valuation enterprise based on ensuring the obligation of confidentiality as prescribed in this Article.

b) When there is a request to check, inspect, and resolve complaints and disputes in price appraisal activities; requests from the Peoples Court, the Peoples Procuracy, the Investigation Agency, the Inspection Agency, the State Audit, the Ministry of Finance and other competent agencies according to the provisions of law.

From the above regulations, it can be seen that valuation documents are exploited and used in certain cases. In case it has been stored but if a competent state agency requests its use by the provisions of law, it can still be used.

Reputable valuation unit in Vietnam

One of the leading reputable appraisal units in Vietnam is SunValue. With more than 20 years of establishment and development, SunValue is proud to become one of the leading real estate appraisal units in Vietnam, the leading brand in Vietnam 2023, strong brand in Asia 2021, with a system of nearly 50 Branches and Transaction Offices across the country. As a reputable, independent price appraisal unit, a pioneer in applying technology in price appraisal, helping to monitor real estate price fluctuations, and complete price data to support the development of Vietnams real estate market and International.

SunValue - A national brand that has actively contributed to the development of the valuation industry in Vietnam