Decree 87 on Administrative Penalties for Price Management Violations Effective from July 12, 2024
The Decree 87 stipulates penalties for administrative violations in price management effective from July 12, 2024
On July 12, 2024, the Government of Vietnam issued Decree 87/2024/ND-CP stipulating penalties for administrative violations in price management.
Decree 87/2024/ND-CP provides for administrative violations; completed administrative violations and ongoing administrative violations; forms of penalties, penalty levels, remedial measures for each administrative violation;
Decree 87/2024/ND-CP applies to the following subjects:
- Vietnamese individuals and organizations; foreign individuals and organizations committing administrative violations as stipulated in Decree 87/2024/ND-CP; persons authorized to make records, authority to impose administrative penalties, and other related individuals and organizations.
- Organizations subject to penalties include:
+ Economic organizations established under the Enterprise Law, including: private enterprises, joint-stock companies, limited liability companies, partnerships, and business-dependent units (branches, representative offices)
+ Cooperatives, cooperative unions established under the Cooperative Law
+ Organizations established under the Investment Law, Commerce Law, including: domestic investors, foreign investors (excluding investors who are individuals), and economic organizations with foreign investment; representative offices, branches of foreign traders in Vietnam; representative offices of foreign trade promotion organizations in Vietnam;
+ Social organizations, socio-political organizations, socio-political-professional organizations, socio-professional organizations;
+ Public non-business units
+ State agencies committing violations that are not part of their assigned state management duties
+ Other organizations as regulated by law.
- Business households, family households, domestic investors, and foreign investors being individuals committing administrative violations as specified in Decree 87/2024/ND-CP shall be subject to penalties for individuals.
Decree 87/2024/ND-CP takes effect from July 12, 2024, simultaneously replacing the regulations on administrative penalties in the price sector specified in Chapter 2 of Decree 109/2013/ND-CP.
The Decree 87 stipulating penalties for administrative violations in price management effective from July 12, 2024 (Image from the Internet)
What is the statute of limitations for administrative penalties in price management?
According to Article 4 of Decree 87/2024/ND-CP, the statute of limitations for administrative penalties is regulated as follows:
Statute of limitations for administrative penalties
The statute of limitations for administrative penalties in price management is stipulated in Article 6 of the Law on Handling of Administrative Violations.
Principles for determining completed administrative violations and ongoing administrative violations to calculate the statute of limitations for administrative penalties in price management shall be applied according to regulations of the decree detailing a number of provisions and measures for implementing the Law on Handling of Administrative Violations.
Thus, the statute of limitations for administrative penalties in price management is 01 year, except for the following cases:
Administrative violations related to accounting; invoices; fees, charges; insurance business; price management; securities; intellectual property; construction; fisheries; forestry; investigation, planning, exploration, exploitation, and use of water resources; petroleum activities and other mineral activities; environmental protection; nuclear energy; house and office management and development; land; dikes; journalism; publishing; production, export, import, and trade of goods; production and trade of banned and counterfeit goods; management of overseas labor, the statute of limitations for administrative penalties is 02 years.
Administrative violations related to tax, the statute of limitations for administrative penalties shall follow the provisions of the tax management law.
What are the forms of administrative penalties under Decree 87?
According to Article 3 of Decree 87/2024/ND-CP stipulating the forms of penalties, principles for application, and remedial measures:
Forms of penalties, principles for application, and remedial measures
1. Forms of administrative penalties include:
a) Monetary fines;
b) Temporary revocation of the appraiser's certificate of price assessment; temporary suspension of price assessment service business activities; temporary suspension of training, nurturing, updating knowledge on price assessment.
- The form of penalty stipulated at point a, clause 1, Article 3, is the principal form of penalty. The form of penalty stipulated at point b, clause 1, Article 3, is the additional form of penalty.
...
Thus, there are 2 forms of administrative penalties including:
- Monetary fines
- Temporary revocation of the appraiser's certificate of price assessment; temporary suspension of price assessment service business activities; temporary suspension of training, nurturing, updating knowledge on price assessment.
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