Proposal to increase declared asset value from 50 to 150 million VND

On the morning of November 4, continuing the tenth session, the National Assembly listened to the presentation of the draft Law amending and supplementing a number of articles of the Law on Anti-Corruption.

Government Inspector General Doan Hong Phong presents the report. *Photo: media.quochoi.vn*

Presenting the report, Government Inspector General Doan Hong Phong said that the draft Law amending and supplementing a number of articles of the Law on Anti-Corruption amends a number of regulations on assessing anti-corruption work; applying science , technology, and digital transformation in management.

The draft law also amends provisions related to: Asset and income control agencies; duties and powers of asset and income control agencies; assets and income that must be declared; asset and income verification activities; detection of corruption through inspection and auditing activities; authority of inspection agencies in inspecting cases with signs of corruption; receiving and resolving feedback and denunciations about corruption and a number of other contents to overcome limitations and shortcomings in the implementation process.

Regarding assets and income that must be declared, the Government Inspector General said that the draft Law stipulates an increase in the value of declared assets from 50 million VND to 150 million VND to suit the current socio-economic development conditions and prices, which have changed a lot compared to 2018.

Regarding the value of assets and income levels to monitor fluctuations and verify assets and income, the Government Inspector General Doan Hong Phong said that the draft Law amending and supplementing the provisions on increasing the value of assets and income levels when there are fluctuations in the year from 300 million VND to 1 billion VND to suit current actual conditions and create long-term stability, while ensuring consistency with the increase in the value of assets that must be declared by about 3 times (from 50 million VND to 150 million VND) as shown in the draft Law.

Chairman of the National Assembly's Committee on Law and Justice Hoang Thanh Tung reports on the investigation. *Photo: media.quochoi.vn*

Reporting on this issue, Chairman of the National Assembly's Committee on Law and Justice Hoang Thanh Tung basically agreed with the provisions of the draft Law on increasing the value of assets and income that must be declared from 50 million VND to 150 million VND; increasing the level of change in assets and income in the year that must be additionally declared (instead of change compared to the previous declaration) from 300 million VND to 1 billion VND.

“This is a regulation that is suitable for the socio-economic situation, accurately reflects current price and income fluctuations, ensures centralized management and control of declaration of assets and income of large value, and at the same time reduces unnecessary administrative procedures for controlling declaration of assets and income of small value, thereby improving the effectiveness of corruption prevention,” said Mr. Hoang Thanh Tung.

In addition, the Chairman of the National Assembly's Committee on Law and Justice said that there are opinions that in order to ensure the stability of the Law as well as to comply with the requirements of innovation in legislative thinking and the provisions of the Law on Promulgation of Legal Documents, it is not advisable to rigidly stipulate monetary quantification levels in the Law. Instead, the Government should be assigned to specifically stipulate monetary quantification levels in sub-law documents so that they can be flexibly adjusted in each period, in accordance with the socio-economic situation.

Source: https://hanoimoi.vn/de-xuat-tang-gia-tri-tai-san-ke-khai-tu-50-len-150-trieu-dong-722041.html