Penalties for Conducting Business of Buying and Selling Gold Bars Without a Business License?

According to Clause 8, Article 24 of Decree 81/2019/ND-CP, a fine ranging from VND 300,000,000 to VND 400,000,000 shall be imposed for any of the following violations:

Engaging in the business of purchasing and selling gold bars without a business license to purchase and sell gold bars;

Clause 9, Article 24 of this Decree stipulates additional penalties:

Confiscation of the gold for violations specified in points a, c of Clause 8 of this Article;

Thus, if ABC gold shop engages in purchasing and selling gold bars without a business license to purchase and sell gold bars, it will be fined from VND 300,000,000 to VND 400,000,000.

In addition, the additional penalty for this violation is the confiscation of the gold involved in the violation.

Sincerely!