According to the provisions of Article 35 of the Enterprise Law 2014 on capital contribution assets can be: Vietnam Dong, freely convertible foreign currency, gold, value of land use rights, value of intellectual property rights, technology, technical know-how, other assets that can be valued in Vietnam Dong.
Thereby, it can be seen that if the members of the enterprise contribute capital in cash or in gold or foreign currency, it is very easy to convert into the unit of calculation, which is Vietnam Dong. In case a member contributes capital with assets other than cash such as: vehicles, land use rights, value of intellectual property rights, technology, technical know-how and other assets, the valuation of assets How is production done? And who has the authority to value the assets contributed as capital?
Authority to value assets contributed as capital
• For limited liability companies, partnerships, and private enterprises contributed as capital by members of the company;
• For a joint-stock company where the founding shareholders value the assets contributed as capital;
• In addition, companies can ask professional valuation organizations to value contributed assets.
Principles of asset valuation
Assets contributed as capital upon enterprise establishment must be valued by founding members and shareholders on the principle of consensus or by a professional valuation organization. If a professional valuation organization makes a valuation, the value of assets contributed as capital must be approved by a majority of members and founding shareholders.
Valuation of assets contributed as capital during the companys operation
During the operation of the enterprise, when there is a need to increase charter capital, the members of the company can contribute more assets to increase capital, the valuation of assets contributed as capital is due to:
• The owner, the Members Council for limited liability companies, partnerships and capital contributors agree on valuation;
• The Board of Directors for joint-stock companies and capital contributors agree on valuation;
• Or a professional valuation organization makes the valuation. In case the professional valuation organization makes the valuation, the value of the assets contributed as capital must be approved by the capital contributor and the enterprise.
Responsibility for property valuation
• In case when the company is established: the assets contributed as capital are valued higher than the actual value at the time of capital contribution, the founding members and shareholders jointly contribute an additional amount equal to the difference between the value of the capital contribution and the capital contribution. be valued and the actual value of the assets contributed as capital at the time of closing the valuation; at the same time jointly responsible for damage caused by intentionally pricing assets contributed as capital higher than the actual value.
• In case during the operation: the assets contributed as capital are valued higher than the actual value at the time of capital contribution, the capital contributors, owners, members of the Members Council for limited liability companies and partnerships, members of the Board of Directors for joint-stock companies jointly contribute an additional amount equal to the difference between the assessed value and the actual value of the assets contributed as capital at the time of valuation completion. ; at the same time, jointly and severally responsible for damage caused by intentionally valuing the contributed assets higher than the actual value.
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