On July 10, 2024, the Government issued Decree 85/2024/ND-CP detailing some provisions of the Price Law.
1. The establishment of pricing plans for goods and services priced by two levels is regulated as follows:
- For goods and services funded by the state budget and ordered by central agencies or organizations: The production, business, and supply organizations are responsible for preparing pricing plans.
- For national reserve goods purchased through bidding (excluding national defense and security reserves): Organizations or individuals receiving bidding documents according to procurement laws are responsible for preparing pricing plans. For national reserve goods purchased through direct, broad-based methods: Regional national reserve departments prepare the pricing plans.
2. Organizations conducting business with goods and services subject to price declaration must submit a price declaration document to the receiving agency within a maximum of 5 working days from the decision date.
Specifically:
- If the business organization only conducts wholesale, it declares wholesale prices; if it only conducts retail, it declares retail prices.
- If the business organization conducts both wholesale and retail, it declares both wholesale and retail pric1es.
- If the business organization is an importer and an exclusive distributor, it declares both wholesale and retail prices (if applicable).
- If the business organization is an exclusive distributor, it declares both wholesale and retail prices; if it is a general agent with the right to decide and adjust prices, it declares both wholesale and retail prices; if it is an agent with the right to decide and adjust prices, it declares retail prices.
3. Forms of receiving price declarations:
- Receiving online through software in the following forms: receiving through online public services; receiving through a price database software; other online forms approved by competent authorities according to the law.
- Receiving through other forms: direct submission at the receiving agency; submission by mail (time is calculated based on the arrival postmark); submission of electronic documents via email.
The Decree takes effect from July 10, 2024.
