From 2017, the Ministry of Industry and Trade shall in charge of management of milk price

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This is an important content of Circular No. 233/2016/TT-BTC dated November 11, 2016 of the Ministry of Finance amending, supplementing a number of Articles of the Circular No. 56/2014/TT-BTC dated April 28, 2014 of the Minister of Finance guiding the Government’s Decree No. 177/2013/ND-CP of November 14, 2013, detailing and guiding the implementation of a number of articles of the Law on Prices.

In particular, from January 01, 2017, entities required to register prices of milk for kids under six years old shall comply with the guidance of the Ministry of Industry and Trade; prices of preventive and curative medicines for human use on the list of essential curative medicines and agencies receiving price registration forms still comply with the guidance of the Ministry of Health.

With regards to the rights and responsibilities of organizations and individuals in price declaration, they have right to purchase and sell goods and services at the declared prices from the date of making price declaration that organizations and individuals write in the documents sent to the document-receiving agencies; make price declaration in accordance with law; take responsibility before law for the accuracy of declared prices; comply with the report on declared price at the request of the document-receiving agencies. Especially, not to apply declared prices in the purchase and sale of goods and services before the date of implementation as stipulated; take responsibility to publicize information on declared prices; to publicize and post up declared prices within their distribution systems (if any); to comply with declared prices; to abide by price valorization measures applied by competent state agencies in accordance with law…

This Circular takes effect on January 01, 2017.