Circular No. 55/2011/TT-BTC guiding the system for reporting market prices of domestic goods and services and imported goods.

CIRCULAR

Guidelines on the system for reporting domestic commodity and service market prices, and import commodity prices

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Pursuant to Decree No. 170/2003/NĐ-CP dated December 25, 2003 of the Government detailing implementation of certain provisions of the Price Ordinance;

Pursuant to Decree No. 75/2008/NĐ-CP dated June 9, 2008 of the Government amending and supplementing certain articles of Decree No. 170/2003/NĐ-CP dated December 25, 2003 of the Government detailing implementation of certain provisions of the Price Ordinance;

Pursuant to Decree No. 118/2008/NĐ-CP dated November 27, 2008, of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

The Ministry of Finance issues guidelines on the system for reporting domestic commodity and service market prices, and import commodity prices as follows:

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Circular stipulates the system for reporting domestic commodity and service market prices; import commodity prices (hereinafter referred to collectively as the system for reporting market prices).

Article 2. Applicability

1. Market price reporting agencies include: Departments of Finance; District, County, City Financial Planning Offices under provinces and centrally governed cities (hereinafter collectively referred to as Departments of Finance); General Department of Customs; Representative Office of the Ministry of Finance in Ho Chi Minh City; Price Management Bureau; Bureau of Information Technology and Financial Statistics.

2. Individuals working at market price reporting agencies who are assigned tasks to monitor, collect, and compile market price information within the country and import commodity prices according to this Circular (hereinafter collectively referred to as market price officers) shall implement reports as prescribed.

3. Organizations and individuals engaged in production and business operations; organizations and individuals signing contracts to provide information, or contracts with cooperating agents providing market price information.

Article 3. Explanation of Terms

1. Wholesale price: Is the price level of goods and services set by competent authorities or formed and implemented through agreements between sellers and buyers in large quantities for use in production, processing, or resale (usually retail prices).

2. Retail price: Is the price at which goods and services are sold directly to consumers at the final stage of circulation when goods end their circulation process and enter individual consumption.

3. Listed price: Is the price level announced by organizations and individuals engaged in production and business operations to customers at transaction locations using appropriate methods (written, posted on boards, printed on product packaging...).

4. CIF price: Is the payment price in export and import transactions including the cost of goods, insurance costs, loading and unloading fees, and transportation costs to the port of the importing country.

5. Registered price, declared price: Is the price level of goods and services listed in the catalog of goods and services required to be registered or declared according to the law that organizations and individuals engaged in production and business operations have registered or declared to competent state agencies.

6. Price level: Is the average price level of the majority of goods and services in the economy corresponding to a specific space and time period and is usually measured through monthly, quarterly, or annual consumer price indices.

1. Domestic market prices of goods and services (hereinafter referred to collectively as domestic market prices) must be collected to ensure objectivity and timeliness, reflecting actual purchase and sale prices commonly prevailing in the market at the time of collection, at production and business locations, centralized trading places; simultaneously, it must clearly distinguish whether the collected price is a wholesale price or a retail price associated with the place of information collection such as: factory price, business location price; supermarket price, shopping center price; wholesale market price, general wholesaler price, retail market price, retail agent price.

3. Import prices must be the actual payment price under the import contract (CIF price) of the importing enterprise; if the import price provided by the enterprise is incorrect, it shall be based on the price determined by the customs authority.

Article 5. Methods for collecting information on domestic market prices and import prices of goods

1. For reports on domestic market prices

a) Survey area for price collection: Select information collection points that are places with regular and stable production and business activities representing urban and rural areas in provinces and cities. In cases where prices are collected based on listed prices, clearly indicate the listing of organizations and individuals engaged in production and business.

b) Types of market prices to be collected:

- Purchase prices of agricultural products (which are also the selling prices of agricultural producers).

- Wholesale prices (wholesale selling prices) at manufacturing plants, processing centers, wholesale centers; wholesale markets; wholesale agents;

- Retail prices at shopping centers, supermarkets, retail agents, markets in central and rural areas of provinces and cities;

- Wholesale and retail prices at sales systems, distribution agents.

The collected prices include value-added tax (if applicable).

c) Collection methods:

- Direct collection: Market staff directly visit manufacturing plants, processing centers, wholesale centers, wholesale markets; shopping centers, supermarkets, markets... to investigate and collect information;

- Indirect collection: The price reporting agency issues a letter requesting organizations and individuals engaged in production and business to provide information on goods and service prices within the reporting price list; collect market price information through mass media: newspapers, radio, magazines...; collect through registration and declaration statistics of organizations and individuals engaged in production and business; collect through purchasing information contracts and regular cooperation agreements with organizations and individuals providing information.

2. For reports on import prices of goods:

a) Types of prices to be collected: Import prices of goods are actual import prices (CIF prices).

b) The collected price is the weighted average price for the reporting period (15 days, monthly).

c) The format for reporting import prices of goods is implemented according to the provisions in Appendix No. 2 attached to this Circular.

Chapter II

SPECIFIC PROVISIONS

Article 6. Types of Reports

1. For reports on domestic market prices

a) Weekly, Monthly, Quarterly, Annual Reports: The Department of Finance implements weekly, monthly, quarterly, and annual market price reports. The last week of the month is the monthly report. The last months of each quarter (3, 6, 9, 12) are the corresponding quarterly, semi-annual, nine-month, and annual reports (collectively referred to as long-term reports).

b) Special Reports: The Department of Finance proactively implements special reports when there are abnormal fluctuations in the prices of certain goods and services listed in the price stabilization list as stipulated in Circular No. 104/2008/TT-BTC dated November 13, 2008, issued by the Ministry of Finance guiding the implementation of Decree No. 170/2003/NĐ-CP dated December 25, 2003, of the Government detailing the implementation of certain provisions of the Price Ordinance, Decree No. 75/2008/NĐ-CP dated June 9, 2008, of the Government amending and supplementing certain articles of Decree No. 170/2003/NĐ-CP, and Circular No. 122/2010/TT-BTC dated August 12, 2010, issued by the Ministry of Finance amending and supplementing certain articles of Circular No. 104/2008/TT-BTC, or when the prices of essential goods and services in the locality experience unusual fluctuations.

2. For reports on import prices of goods:

The General Customs Department implements import price reports every 15 days and monthly as specified in Appendix No. 2 attached to this Circular and proactively submits special reports when import prices of goods listed in the reporting price list experience unusual fluctuations.

Article 7. Content of the Report

1. For reports on domestic market prices

a) Weekly report:

- Overview of market conditions and prices during the reporting period.

- Analysis of price trends and causes for fluctuations (or stability) in the overall price level and for each specific type of goods and services.

- Statistics on the prices of goods and services according to the list specified in Appendix No. 1 (annexed hereto).

b) Monthly, quarterly, and annual reports:

Part One: Overview of market conditions and prices during the reporting period:

- Report on the trend of market prices for goods and services, analyze the current situation and causes;

- Forecast the movement of market prices in the following month (quarter, year).

- Statistics on the prices of goods and services according to the list specified in Appendix No. 1 (annexed hereto).

For localities where agricultural, forestry, and fisheries production serves as raw materials for processed agriculture, during the harvest season, in addition to the above contents, the report must also include the purchase prices of products at the place of production, including analysis of trends, causes, and recommendations for stabilizing prices as stipulated in Appendix No. 1 (annexed hereto).

Part Two: Evaluation of the implementation of price management and guidance work in the locality, including the following contents:

- Policies, measures, and tasks carried out;

- Impact of these actions on market prices and economic and social conditions in the locality;

- Difficulties, obstacles, and recommendations for price management and stabilization.

c) Ad hoc report:

- Comments on the trend of market prices for goods and services with price fluctuations;

- Causes and recommendations for market and price stabilization measures;

- The report must include a statistical table showing the prices of the type of goods and services before and after the price fluctuation.

2. For reports on import prices of goods:

- Comments on the trend of import prices of goods listed in Appendix No. 2 annexed hereto;

- Reasons for increases or decreases in import prices (if any), and other related issues.

Article 8. Form, Address, and Time for Submitting Reports

The price market reporting agency shall update and compile market price information and submit the reports prescribed in this Circular in accordance with the form, address, and time for submitting reports as follows:

1. For reports on domestic market prices

The price market reporting agency shall submit the report to the Price Management Department (Ministry of Finance) simultaneously in two forms: written and through the information network system (email, Market Price Management Program for Goods and Services version 1.0):

1.1. Submit the report in writing to the address: Price Management Department - Ministry of Finance, No. 28 Tran Hung Dao Street, Hanoi.

1.2. Submit the report through the information network system:

a) Via email:

The Departments of Finance send the report to the Price Management Department at the email address: [email protected]

For the Departments of Finance in the southern region from Khanh Hoa Province southward, in addition to sending the report to the Price Management Department at the aforementioned email address,[email protected] they must also simultaneously send it to the Representative Office of the Ministry of Finance in Ho Chi Minh City at the email address: [email protected].

The Representative Office of the Ministry of Finance in Ho Chi Minh City shall aggregate the market price situation in southern provinces and promptly report in writing and via email to the Price Management Department at the addresses specified in point 1.1 and 1.2, Clause 1, Article 8 of this Circular.

b) Through the Market Price Management Program for Goods and Services version 1.0 pursuant to Decision No. 346/QD-BTC dated February 20, 2009 of the Minister of Finance on implementing the Market Price Management Program for Goods and Services version 1.0 (hereinafter referred to as the Market Price Management Program for Goods and Services version 1.0):

From July 1, 2011, in addition to sending the report via email at the address specified in paragraph a, point 1.2, Clause 1, Article 8 of this Circular, the Departments of Finance shall update, compile information, and submit the report through the Market Price Management Program for Goods and Services version 1.0 at the address: http://qlg.btc

c) All information sent via email at the address: [email protected] and through the Market Price Management Program for Goods and Services version 1.0 at the address: http://qlg.btc must be uniformly encoded in Vietnamese Unicode.

d) File naming conventions for reports submitted through the information network system:

Follow the provisions in Appendix No. 3 (annexed hereto).

đ) Regular reports on national market price conditions by the Price Management Department sent to the Departments of Finance, in addition to sending letters by post, must be uploaded to the website under the "Market Prices" section of the Ministry of Finance's electronic news site.

1.3. Time for submitting reports:

The Departments of Finance in localities shall submit reports to the Price Management Department as follows:

+ Weekly report: before 15:00 on Friday of each week.

+ Monthly and long-term reports: before the 25th of each month.

+ Ad hoc report: immediately upon price fluctuations.

2. For reports on import goods prices

2.1. The General Customs Department shall submit regular reports on import goods prices every 15 days and monthly, and ad hoc reports to the Price Management Department at the address: Price Management Department (Ministry of Finance) - No. 28 Tran Hung Dao, Hanoi; and simultaneously send files through the information network system at the email address: [email protected]. Reports sent via email must be uniformly encoded in Vietnamese Unicode.

2.2. Time for submitting reports:

a) Report for the first 15 days of the month: Before the 20th of each month.

b) Report for the last 15 days of the month and monthly report: before the 10th of the following month (including the last 15 days of the month and the summary of the entire month's report).

2.3. List of imported goods that require price reporting is specified in Appendix No. 2 (annexed hereto).

Article 9. Budget for Implementing the Market Price Reporting System

1. Staff members responsible for market prices as stipulated in Article 2 of this Circular shall be provided with a monthly allowance of VND 300,000/person/month according to Clause 5 of Article 2 of Circular No. 97/2010/TT-BTC dated July 6, 2010 issued by the Ministry of Finance on the regulations on travel expenses and conference costs for state agencies and public institutions. In case the Ministry of Finance issues a revised or new circular to replace Circular No. 97/2010/TT-BTC dated July 6, 2010, the provisions of that circular shall apply.

2. Budget for purchasing market price information:

2.1. Where the market price reporting agency cannot directly collect market price information through surveys and must purchase such information, the market price reporting agency shall settle the cost of purchasing information according to contracts signed with organizations and individuals directly producing and trading goods and services or providing other types of information.

2.2. Situations eligible for reimbursement of information purchase costs:

- Goods and services not commonly traded on the market, making it impossible to accurately grasp their prices;

- Goods and services at markets without publicly posted prices as required;

- Purchasing information on various prices from Supermarkets, Shopping Centers, etc.;

- Other situations for purchasing information as specified by the head of the market price reporting agency in accordance with approved budgets, ensuring economy and effectiveness.

2.3. Payment vouchers for purchasing information costs:

- Contracts and settlement certificates for purchasing information or information provision contracts, collaboration contracts for information provision;

- Legal invoices or receipts from organizations and individuals providing information according to signed contracts.

3. Budget for supporting information collection work and implementing the market price reporting system:

In addition to the budget items specified in Clause 1 and Clause 2 of this Article, the market price reporting agency may allocate:

3.1. Costs for supporting meetings or organizing the monitoring and reporting of market prices, guiding districts, counties, and related units to implement the market price reporting system according to current regulations of the Ministry of Finance on travel expenses and conference costs for state agencies and public institutions.

3.2. Costs for collecting and reporting emergency market prices during holidays, festivals, natural disasters, typhoons, floods, etc., as directed by the Government, Prime Minister, Ministry of Finance, and People's Committees of provinces and centrally-administered cities (hereinafter referred to as provincial-level People's Committees), which shall be applied as overtime allowances for civil servants according to current regulations of the Ministry of Finance.

4. The market price reporting agencies stipulated in Article 2 of this Circular shall be responsible for preparing annual budget estimates for information collection, compilation, and market price reporting:

4.1. The annual budget estimate for information collection, compilation, and market price reporting system implementation shall include the following cost items:

DTKPHN = KPCBTT + KPHT + KPMT + KPĐX

Where:

a) Abbreviations (DTKPHN, KPCBTT, KPHT, KPMT, KPĐX) are understood as follows:

- DTKPHN: Annual budget estimate.

- KPCBTT: Cost for market price staff.

- KPHT: Support cost.

- KPMT: Cost for purchasing market price information.

- KPĐX: Emergency cost for collecting and reporting market prices.

b) Calculation methods for each cost item:

- KPCBTT= Number of market price staff x Monthly support amount x 12 months.

- KPHT= [(Number of meetings in a year x Number of attendees x Support amount per person) + (Support amount for meeting chairperson x Number of meetings in a year)].

- KPMT = KPMTof the main agency + KPMT of subordinate units.

- KPĐX= Number of participants in emergency collection and reporting of market prices x Number of days or time spent on such activities x Overtime allowance rate as prescribed.

4.2. If the budget for information collection, compilation, and market price reporting exceeds the estimate, the market price reporting agency shall propose to the competent state management authority to supplement the budget according to State regulations.

4.3. Based on the above provisions, the market price reporting agencies stipulated in Article 2 of this Circular shall be responsible for managing and using these funds in accordance with the State Budget Law and related implementing documents, ensuring economy and effectiveness.

Chapter III

IMPLEMENTATION

Article 10. Responsibilities of Organizations and Individuals

1.1. General responsibilities:

a) Agencies responsible for market price reporting as stipulated in Article 2 of this Circular: based on the guidance in this Circular, they are responsible for building, consolidating, and improving the market price information collection system; organizing regular and emergency reporting on market price conditions of goods and services within their jurisdiction and submitting reports to the Ministry of Finance (Price Management Department). They are accountable to the Minister of Finance and the Chairman of the Provincial People's Committee for implementing the market price reporting system as prescribed in this Circular.

b) The Price Management Department is responsible for compiling and reporting to the leadership of the Ministry of Finance.

1.2. Specific responsibilities:

a) Departments of Finance:

- Assign dedicated staff to monitor, collect, compile information, and prepare market price reports.

- Submit regular and emergency reports to the Ministry of Finance (Price Management Department) in accordance with regulations. - Guide County Financial Planning Departments to assign dedicated staff to monitor, collect, and report market prices (if necessary) within the scope of responsibility of the Department of Finance and the County People's Committee, following directives from the Provincial People's Committee and guidance in this Circular.

b) General Customs Department:

b) General Department of Customs:

- Assign dedicated staff to monitor, collect, and compile information and prepare reports on import commodity prices.

- Compile periodic and ad hoc reports on the situation of import commodity prices and submit them to the Ministry of Finance (Price Management Department) in accordance with regulations.

- Direct the Customs Departments of provinces and cities to implement monitoring, collection, and reporting of import commodity prices within their customs jurisdiction (if necessary) to the General Customs Department for consolidation according to the guidelines set forth in this Circular.

c) The representative office of the Ministry of Finance in Ho Chi Minh City:

Assign staff to handle communication, collect market price information from southern provinces starting from Khanh Hoa and report it to the Price Management Department in accordance with the provisions of this Circular.

d) The Price Management Department:

- Report biannually to the Minister of Finance on the implementation of the market price reporting system by relevant agencies as stipulated in this Circular.

- Implement, guide, urge, and inspect the execution of this Circular.

- Assign market price staff to monitor and compile market price information nationwide; periodically report to the leadership of the Ministry of Finance on the market price situation every 15 days, monthly, quarterly, annually, or ad hoc reports as directed by the Minister of Finance; submit periodic reports every 15 days, monthly, quarterly, annually to provincial finance departments, related units under the Ministry of Finance, other relevant agencies, and post on the Ministry of Finance's website: Market Price Section.

- Coordinate with the Information Technology and Financial Statistics Department to organize guidance on reporting through the network system between provincial finance departments and the General Customs Department with the Price Management Department.

- Manage the entire content of the market price database for goods and services submitted by provincial finance departments and the General Customs Department to the Price Management Department.

- Coordinate with the Information Technology and Financial Statistics Department of the Ministry of Finance in guiding the handling of technical issues arising during the updating, exploitation, and use of the information system; share timely and accurate price data for effective exploitation and use by units; secure shared information.

đ) The Information Technology and Financial Statistics Department (Ministry of Finance):

- Manage, maintain, and ensure technical operations for the information network system serving the implementation of the market price reporting system.

- Ensure technical security, storage, and confidentiality of data for the price database at the Information Technology and Financial Statistics Department's Data Center.

- Guide the handling of technical issues arising during the updating, exploitation, and use of the price information system; share timely and accurate price data for effective exploitation and use by units; secure shared information.

- Take the lead and coordinate with the Price Management Department to guide and urge provincial finance departments to use the Goods and Services Market Price Management Program version 1.0 to serve the collection and reporting of market price information as per Decision No. 346/QĐ-BTC dated February 20, 2009 of the Minister of Finance on the implementation of the Goods and Services Market Price Management Program version 1.0.

- Be responsible for organizing and managing effectively the process of updating, exploiting, and using the market price database for goods and services in accordance with regulations.

e) Other organizations and individuals:

Organizations and individuals specified in Clause 3, Article 2 of this Circular are responsible for providing accurate market price information for goods and services as required by authorized state management agencies and market price reporting agencies as stipulated in this Circular.

Article 11. Effective Date

This Circular takes effect from July 1, 2011, and replaces Decision No. 1712/QĐ-BTC dated May 25, 2005 of the Minister of Finance on the issuance of the Market Price Reporting System.

During the implementation process, if there are any difficulties, units shall report to the Ministry of Finance for guidance on resolution and appropriate amendments and supplements./.