This Circular guides the determination of the value of assets that are the results of science and technology tasks funded by state capital, applicable to management agencies, organizations, and individuals granted ownership or usage rights over such assets. The Circular stipulates methods for determining value based on investment costs, market expenses, and income.
适用范围
Management agencies of science and technology tasks funded by state capital; agencies, organizations, and individuals granted ownership or usage rights over assets resulting from science and technology tasks; appraisal firms; and organizations providing price consultation.
要点
- Management agencies of science and technology tasks have the authority to determine asset values based on investment costs, market expenses, and income.
- The method for determining the value of assets based on investment costs for science and technology tasks is carried out according to the formula: Value = Investment Costs + Anticipated Profit (if any) + Special Consumption Tax (if any) + VAT and other taxes (if any).
- Methods for determining the value of assets under the cost approach include the reproduction and replacement costs of the asset.
- Methods for determining the value of assets under the market approach are based on the market prices of comparable assets.
- Methods for determining the value of assets under the income approach include user fees, superior profits, and additional income.
🌐 本文件的社会影响
- Establishing a legal basis for determining the value of assets that are the results of science and technology tasks, ensuring transparency in the process of granting ownership or usage rights.
- Reducing risks associated with costs when determining the value of assets through diverse methods.
❓ 常见问题
Which agency has the authority to determine the value of assets that are the results of science and technology tasks?
Management agencies of science and technology tasks funded by state capital have the authority to determine asset values.
What methods are used to determine the value of assets?
The Circular stipulates methods based on investment costs, market expenses, and income. Specific methods include: determining value based on investment costs; determining value using the cost approach; determining value using the market approach; and determining value using the income approach.
When does this Circular take effect?
This Circular takes effect from April 6, 2019.
What costs are included in determining the value of assets?
Costs for determining the value of assets include appraisal fees; fees for hiring service organizations to provide price consultations to determine asset values; and other office supplies directly related to determining asset values.
How is the payment for costs to determine the value of assets handled?
In cases where ownership rights are transferred, the revenue from transferring ownership rights is used to cover the costs for determining asset values. If there is no revenue generated or if the revenue is insufficient to cover the costs, the shortfall is settled and paid from the management agency's budget for science and technology tasks.
全文
| MINISTRY OF FINANCE ------- |
SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness --------------- |
|---|---|
| Number: 10/2019/TT-BTC | Hanoi, February 20, 2019 |
CIRCULAR
GUIDELINES FOR DETERMINING THE VALUE OF ASSETS RESULTING FROM SCIENTIFIC AND TECHNOLOGICAL TASKS FUNDED BY STATE CAPITAL
Pursuant to the Law on Management and Use of State Assets dated June 21, 2017;
Pursuant to the Law on Science and Technology dated June 18, 2013;
Pursuant to the Law on Technology Transfer dated June 21, 2017;
Pursuant to the Law on Prices dated June 20, 2012;
Pursuant to Decree No. 70/2018/NĐ-CP dated May 15, 2018 of the Government on the management and use of assets formed through the implementation of scientific and technological tasks funded by state capital;
Pursuant to Decree No. 87/2017/NĐ-CP dated July 26, 2017, issued by the Government, stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
At the proposal of the Director of the Price Management Department;
The Minister of Finance issues this Circular guiding the determination of the value of assets resulting from scientific and technological tasks funded by state capital.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of Regulation
This Circular guides the determination of the value of assets resulting from scientific and technological tasks funded by state capital (fully or partially from the state budget) for the purpose of implementing the transfer of ownership and usage rights over such assets.
Article 2. Applicability
This Circular applies to the following subjects:
1. The agency managing scientific and technological tasks funded by state capital.
2. Agencies, organizations, and individuals granted ownership and usage rights over assets resulting from scientific and technological tasks funded by state capital (hereinafter referred to as agencies, organizations, and individuals granted rights).
3. Valuation firms; service organizations with advisory functions on valuation having the capacity and experience hired to determine and advise on the value of assets resulting from scientific and technological tasks.
4. Other organizations and individuals related to the determination of the value of assets resulting from scientific and technological tasks.
Chapter II
DETERMINATION OF THE VALUE OF ASSETS RESULTING FROM
SCIENTIFIC AND TECHNOLOGICAL TASKS
Article 3. Authority and methods for determining asset value
1. The agency managing scientific and technological tasks has the authority to determine the value of assets resulting from such tasks, which shall be submitted to the competent authority for approval of the asset disposal plan.
The agency managing scientific and technological tasks may hire a valuation firm or an organization with advisory functions on valuation having the capacity and experience to conduct the valuation and provide advice for the determination of the value of assets resulting from scientific and technological tasks.
2. The method for determining asset value shall be one of the methods prescribed in Articles 7, 8, 9, and 10 of this Circular. In cases where two or more methods are applied, it is necessary to evaluate and clearly indicate which method is the primary method, which is used for verification and comparison, and then analyze and calculate to reach a final conclusion on the asset value.
Article 4. Steps for determining asset value
The determination of the value of assets resulting from scientific and technological tasks shall be carried out in the following steps:
1. Determining the value of assets resulting from scientific and technological tasks:
a) Identifying the characteristics of assets resulting from scientific and technological tasks (legal, economic, technical characteristics, and other characteristics);
b) Identifying the purpose, object of use, time point for determining the value, and the basis for determining the value of the asset;
c) Selecting the method for determining the value of assets according to the provisions of Articles 7, 8, 9, and 10 of this Circular;
d) Conducting investigations, surveys, and collecting relevant information and data (for example: funding for the task, market transaction prices, costs and revenues generated from commercializing the results of scientific and technological tasks...);
đ) Analyzing and processing information and data;
e) Determining the value of the results of scientific and technological tasks according to the selected method.
2. Preparing a report on the valuation results or a report on the determination of the asset value according to the provisions of Article 11 of this Circular, submitting it to the competent authority for examination and decision on the value of assets resulting from scientific and technological tasks.
Article 5. Basis for determining the value of property resulting from scientific and technological tasks
1. Scope of rights transfer: transferring ownership rights or usage rights of property resulting from scientific and technological tasks.
2. Technical characteristics of property resulting from scientific and technological tasks, for example, utility, purpose of use, function, anticipated technical effectiveness.
3. Legal characteristics of property resulting from scientific and technological tasks, for example: necessity and possibility of registration for protection; status and scope of protection.
4. Economic characteristics of property resulting from scientific and technological tasks, for example:
a) Anticipated profit level generated from using or commercializing the results of scientific and technological tasks;
b) The results of scientific and technological tasks that have market substitution capability;
c) The novelty and usefulness of property resulting from scientific and technological tasks compared to other results of scientific and technological tasks with the same function.
5. Market transaction prices of some similar properties resulting from scientific and technological tasks that can be compared domestically and internationally, and values in transactions already conducted for the results of scientific and technological tasks requiring valuation (if any).
6. Investment costs to create the results of scientific and technological tasks.
7. Policies, potential for commercialization of the results of scientific and technological tasks related to the development of the scientific and technological market, scientific and technological enterprises, and other preferential policies recorded in the Law on Science and Technology, the Law on Technology Transfer, the Intellectual Property Law, and guiding documents.
Article 6. Investment costs to create property resulting from scientific and technological tasks
Investment costs to create property resulting from scientific and technological tasks stipulated in Clause 6, Article 5 of this Circular include:
1. Direct labor wages, including: wages for positions performing scientific and technological tasks as prescribed; wages for hiring domestic and foreign experts cooperating during the research and implementation of scientific and technological tasks.
2. Costs for purchasing materials, raw materials, fuels, and supplies, including: raw materials, fuels, materials, tools, spare parts, consumables, energy, documentation, reference materials, books, newspapers, journals, patent usage rights, design rights, software, technology secrets serving research activities.
3. Costs for repair, maintenance, upkeep, and acquisition of fixed assets:
a) Costs for purchasing essential equipment directly serving the research and technological development activities of scientific and technological tasks;
b) Costs for renting equipment directly participating in the research and technological development activities of scientific and technological tasks;
c) Depreciation costs of fixed assets (if any) during the direct participation in implementing scientific and technological tasks according to the depreciation rate prescribed for the unit's assets;
d) Costs for repairing, maintaining, and servicing equipment and facilities directly serving the research activities of scientific and technological tasks (if any).
4. Costs for organizing scientific seminars, travel expenses within and outside the country serving research activities.
5. Costs for outsourcing services serving research activities.
6. Costs for investigation, survey, and data collection.
7. Costs for office supplies, communication, printing serving research activities.
8. Costs for convening evaluation boards to assess the implementation results of scientific and technological tasks (if any).
9. General management costs for scientific and technological tasks to ensure management requirements in the implementation of scientific and technological tasks.
10. Other costs directly related to the implementation of scientific and technological tasks.
Article 7. Method for determining the value of assets based on investment costs for science and technology tasks
The determination of the asset value based on investment costs for science and technology tasks shall be carried out according to the following formula:
|
Value of the asset |
= |
Investment cost for the task |
+ |
Anticipated profit (if any) |
+ |
General expenses |
+ |
Value-added tax, other taxes (if any) |
Where:
a) The investment cost for science and technology tasks shall be determined in accordance with the provisions of Article 6 of this Circular. In cases where science and technology tasks are implemented over a long period, the value of the investment cost must be adjusted to the time point of valuation;
b) Special consumption tax, value-added tax, other taxes (if any) shall be determined in accordance with current tax laws;
c) Anticipated profit shall be determined in accordance with current laws and information collected from similar assets that are science and technology tasks which have been transferred ownership and usage rights on the market at the time of valuation.
Article 8. Methods for determining the value of assets based on the cost approach
1. Methods for determining the value of assets based on the cost approach shall be carried out in accordance with the Asset Valuation Standard for Intangible Assets issued by the Ministry of Finance and the specific guidance provided in this Article.
2. The reproduction cost, replacement cost of assets resulting from science and technology tasks shall be determined according to the investment cost for these tasks as stipulated in Article 6 of this Circular.
3. Determining the depreciation value of scientific and technological research results includes:
a) Depreciation due to obsolescence in function and technology: In cases where obsolescence in function and technology can be remedied, the depreciation value due to obsolescence in function and technology shall be determined based on the cost to remedy the obsolescence in function and technology of the science and technology task, for example: improvement costs for inventions, costs to change industrial designs. In cases where obsolescence in function and technology cannot be remedied, the depreciation value due to obsolescence in function and technology shall be determined based on the loss in asset value due to obsolescence in function and technology;
b) Depreciation due to economic obsolescence: shall be determined based on the reduction in asset value due to direct impact from external environment and market conditions compared to the time when the asset was created, for example: inflation rate increases causing the actual value of scientific and technological research results to decrease; government regulations limiting the use of a similar product to the asset being scientific and technological research results leading to reduced supply and thus decreased price of scientific and technological research results; society's payment ability decreases leading to reduced demand for similar products to the asset being scientific and technological research results, thus decreasing the price of scientific and technological research results.
Article 9. Methods for determining the value of assets based on the market approach
1. Methods for determining the value of assets based on the market approach shall be carried out in accordance with the Asset Valuation Standard for Intangible Assets issued by the Ministry of Finance and the specific guidance provided in this Article.
2. The market price of comparable assets may include the following levels:
a) Transfer prices in contracts transferring ownership and usage rights of scientific and technological research results recorded by state management agencies or published on the market;
b) Market offer and bid prices;
c) Listed prices on trading floors;
d) Auction bid prices;
đ) Joint venture, joint stock, mortgage prices;
e) Actual purchase prices on the market;
g) Comparable asset prices in other forms of transactions on the market.
Article 10. Methods for determining the value of assets based on the income approach
1. Methods for determining the value of assets based on the income approach shall be carried out in accordance with the无形资产评估标准，由财政部发布，并根据本条的具体指导进行。
2. The user fee method
a) The user fee for the results of scientific and technological tasks is determined by the actual user fee recorded in the contract transferring the right to use the comparable asset.
b) User fees include: advance user fees, periodic user fees (which may be determined based on the per unit revenue, profit, or product user fee rate); taxes arising from the contract transferring the right to use the asset to the transferee; advertising, marketing costs, and other costs incurred by the transferee.
3. The excess profit method
Excess profit is determined based on the difference in profit between using and not using the asset that is the result of scientific and technological tasks.
4. The additional income method
Additional income is determined based on the difference in total expected profits of the enterprise before and after using tangible assets, intangible assets, and other financial assets that are not the subject of valuation.
Article 11. Report on the Results of Asset Valuation, Report on the Results of Determining the Value of Assets
1. The enterprise conducting the valuation has the responsibility to provide a Valuation Certificate and a Report on the Results of Asset Valuation in accordance with the Vietnamese Valuation Standards System.
2. Organizations with functions to advise on prices have the responsibility to prepare a Report on the Results of Determining the Value of Assets according to the Model attached as an appendix to this Circular.
3. The Report on the Results of Asset Valuation and the Report on the Results of Determining the Value of Assets must truthfully and objectively reflect the process and results of determining the asset value and serve as an important basis for the agency managing scientific and technological tasks to submit to the competent authority for examination and approval of the value of assets that are the results of scientific and technological tasks.
Article 12. Costs of Determining the Value of Assets; Payment of Costs of Determining the Value of Assets
1. Costs of determining the value of assets include fees for hiring a valuation service; fees for hiring an organization with advisory functions on prices to determine the value of assets; office supplies costs and other direct costs related to determining the value of assets.
The level of expenditure for these costs shall be implemented in accordance with the provisions of Article 33 of Decree No. 70/2018/NĐ-CP dated May 15, 2018 of the Government on the management and use of assets formed through the implementation of scientific and technological tasks funded by state capital.
2. Payment of costs of determining the value of assets:
a) For assets with a decision to transfer ownership rights: The source of funds for paying the costs of determining the value of assets shall be from the proceeds from transferring ownership rights of the asset. In cases where the disposal of the asset does not generate revenue or the revenue is insufficient to cover the costs, the remaining costs shall be settled and paid from the budget of the agency managing scientific and technological tasks.
b) For assets with a decision to transfer usage rights:
- The agency managing scientific and technological tasks shall pay the costs of determining the value of assets from the state budget allocated for science and technology activities; at the same time, it shall send the application file to the organization, entity, or individual granted the usage rights to perform the repayment of the costs of determining the value of assets;
- Within 60 days from the date of receipt of the application file requesting repayment of the costs of determining the value of assets, the organization, entity, or individual granted the usage rights shall be responsible for repaying the costs of determining the value of assets to the agency managing scientific and technological tasks.
Chapter III
IMPLEMENTING PROVISIONS
Article 13. Effective Date
This Circular takes effect from April 6, 2019.
Article 14. Implementation Organization
1. The Price Management Department under the Ministry of Finance shall coordinate with the Market Development and Science and Technology Enterprise Development Department under the Ministry of Science and Technology to guide and inspect the implementation of the provisions of this Circular in determining the value of assets that are the results of scientific and technological tasks funded by state capital.
2. During the implementation, if there are difficulties or obstacles, units and localities are requested to report to the Ministry of Finance for research and appropriate amendments.
|
Place of Receipt: |
DEPUTY MINISTER DEPUTY MINISTER (Signed) Tran Van Hieu |
|---|
ANNEX
(Annexed to Circular No. 10/2019/TT-BTC dated February 20, 2019 issued by the Minister of Finance)
PREPARATION OF THE REPORT
…., day … month … year …..
| NAME OF JOINT STOCK Results of determining the value of assets that are the results of scientific and technological tasks ------- |
SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness --------------- |
|---|---|
| No.: … | (Name of asset and name of scientific and technological task) |
REPORT
in document number … dated … regarding the request to determine the value of assets that are the results of scientific and technological tasks funded by state capital.
I. UNIT PREPARING THE REPORT
--------------------
Respectfully submitted to: ...1
To appoint and issue judicial expert certificates to the persons named in the attached list.2 1. Name of unit and legal representative: …
3. Telephone number: … Fax: …
4. Email: …
3. Telephone: …; Fax: …; Email: …
II. PURPOSE OF DETERMINING THE VALUE OF ASSETS
To determine the value of assets…
as a basis to serve…
III. ASSETS TO BE VALUED 3 1. Name of asset: … 4
2. Legal status: …
3. Technical condition: …
IV. IMPLEMENTATION OF PRICE PROPOSAL
1. Legal basis for determining the value: …
2. Time of determination of value: …
3. Basis of value: …
4. Investigation, survey, collection of relevant information and data: …
5. Method of determining the value of assets: …
5.1. The selected method is: …
5.2. Steps and contents of determining the value of assets that are the results of scientific and technological tasks
6. Results of determining the value of assets: 5
7. Limitations and conditions of determining the value of assets (if any):
(Signature, full name, stamp)
.............................................................................................................................................
State the name of the organization or individual as the customer
.............................................................................................................................................
| HEAD OF THE UNIT State the name of the asset that is the result of the research and development task |
|---|
_____________________
1 Choose one of the following purposes: transfer ownership rights; transfer usage rights.
2 Choose one of the following purposes: transfer ownership rights; transfer usage rights.
3 Clearly state the reasons for choosing the method of determining the value of assets
4 Select one of the following purposes: transfer ownership; transfer right to use.
5 Specify the reasons for choosing the method to determine the value of the asset.
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