What are the fines for enterprises in Vietnam for not listing the correct prices of goods and services?

In Vietnam, enterprises must display the prices of goods and services according to the principles of price listing; otherwise, they will be penalized as per regulations.

1. Principles of Price Listing Implementation in Vietnam

To be specific, according to Article 29 of the Vietnam Price Law 2023, the concept of price listing is regulated as follows:

Price listing is a form of publicly displaying prices. The listed price is the purchase price, sale price of goods, and services including various types of taxes, fees, and charges (if any) of those goods and services as determined by organizations and individuals engaged in production, business in Vietnam Dong, except for cases regulated by the foreign exchange law.

The listed price is associated with the quantity or volume of goods and services appropriately, along with other information (if any) about basic technical characteristics, origin, and methods of purchase and sale.

Organizations and individuals doing business in goods and services in Vietnam, when listing prices, must ensure the following principles:

- Organizations and individuals doing business in goods and services must list prices in Vietnam clearly and not confuse customers about the purchase price or sale price of goods and services in various forms: printing, pasting, inscribing information on boards, papers, or directly on the packaging of goods or other forms suitable to the actual conditions at the point of sale of goods or provision of services, or on electronic information pages for the convenience of customers' and Vietnamese governmental authorities' observation and recognition.

- Organizations and individuals are not allowed to sell higher than the listed price; for goods and services with specific prices determined by the State of Vietnam, organizations and individuals doing business in goods and services must list and sell at the prices set by competent state authorities; for goods and services with minimum prices, maximum prices, and price frames determined by competent Vietnamese state authorities, they must list and sell at appropriate prices within the minimum, maximum prices, and price frames.

Organizations and individuals doing business in goods and services in Vietnam must adjust the listed price immediately when there is a change in the price of goods and services.

2. What are the fines for enterprises in Vietnam for not listing the correct prices of goods and services?

According to Article 13 of the Decree 87/2024/ND-CP issued by the Government of Vietnam, penalties for violations of regulations on listing prices of goods and services are stipulated as follows:

- Fines from 500,000 VND to 1,000,000 VND for one of the following acts:

+ Not listing the prices of goods and services in any of the forms prescribed by law;

+ Listing prices of goods and services unclearly, causing confusion for customers;

+ Listing prices of goods and services incorrectly with the specific price set by competent state authorities or organizations, or individuals.

- Fines from 5,000,000 VND to 10,000,000 VND for acts of selling goods and services at prices higher than the listed prices set by organizations or individuals, except as specified in Clause 3, Article 13 of the Decree 87/2024/ND-CP.

- Fines from 20,000,000 VND to 30,000,000 VND for acts of selling goods and services at prices higher than the listed prices for goods and services under the Price Stabilization List, or during the period the State is conducting price stabilization.

Additionally, Clause 4, Article 3 of the Decree 87/2024/ND-CP stipulates that the above-mentioned fines are applicable to individuals, while the fines and fining authority for organizations are double that for individuals.

Enterprises that do not correctly list the selling prices of goods and services in Vietnam will be fined from 1 million VND to 2 million VND. If they sell goods and services at prices higher than the listed prices, enterprises may be fined up to a maximum of 60 million VND.

Furthermore, enterprises must also be compelled to correctly list the prices as their incorrect listing of selling prices of goods and services causes confusion for customers.

Sincerely!

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