From October 2, some types of assets which are confiscated in the state budget or over which the state ownership is established under decisions of competent authorities will be handled under the Finance Ministry’s Circular No. 166/2009/TT-BTC of August 18, which specifies procedures for receipt and preservation of these assets, relevant dossiers, plans on asset handling and approval and implementation thereof by competent authorities, and the management of expenses for handling and proceeds from sale of these assets.
Subject to confiscation into the state budget are assets involved in civil judgment enforcement; material evidence in civil or criminal cases and assets owned by civil judgment debtors or criminal convicts; deserted real estate over which state ownership is allowed to be established under the civil law; lost or abandoned assets whose owners are unidentifiable or which are left unclaimed; assets of deceased persons without any heirs; assets transferred by domestic or foreign entities to the Vietnamese State as donations, contributions, aid or financial assistance; and assets given as gifts and handed over to state agencies under regulations of the Government and the Prime Minister.
Assets confiscated into the state budget in sanctioning administrative violations; assets of programs or projects funded by the state budget; assets kept in bonded warehouses; unhandled assets at Vietnamese seaports; buried or sunken assets which are now found and salvaged will not be confiscated and handled under the new regulation, which replaces those issued together with Decision No. 1766/1998/QD-BTC of December 7, 1998, and Decision No. 29/2000/QD-BTC of February 29, 2000.-