Foreign-invested enterprises in Vietnam continuing operations after the business license has been revoked shall be fined up to VND 50 million

This is a content of the Decree No. 98/2020/NĐ-CP of Vietnam’s Government prescribing penalties for administrative violations against regulations on commerce, production and trade in counterfeit and prohibited goods, and protection of consumer rights, effective from October 15, 2020.

thu hồi GPKD của DN nước ngoài, Nghị định 98/2020/NĐ-CP

 

According to Article 70 of Decree No. 98/2020/NĐ-CP of Vietnam’s Government, penalties for violations against regulations on purchase and sale of goods and activities directly related to the purchase and sale of goods of foreign-invested enterprises in Vietnam are as follows:

1. A fine ranging from VND 10.000.000 to VND 20.000.000 shall be imposed for committing one of the following violations:

- Providing false information in the application for issuance, re-issuance, modification or renewal of the business license or license for establishment of retail outlet;

- Failing to report the loss of business license or license for establishment of retail outlet to competent authorities;

- Failing to submit reports or provide documents or explanations about issues concerning the enterprise’s operation at the request of competent authorities.

2. A fine ranging from VND 20.000.000 to VND 30.000.000 shall be imposed for committing one of the following violations:

- Failing to carry out procedures for modification of the business license or license for establishment of retail outlet upon occurrence of any changes in its contents;

- Failing to carry out procedures for re-issuance of the business license or license for establishment of retail outlet in case it is lost, torn, damaged, burned or otherwise destroyed.

3. A fine ranging from VND 30.000.000 to VND 40.000.000 shall be imposed for committing one of the following violations:

- Organizing a system for purchase of goods in Vietnam for export inconsistently with the Law of Vietnam or an international treaty to which the Socialist Republic of Vietnam is a signatory;

- Organizing or participating in a distribution system in Vietnam inconsistently with the Law of Vietnam or an international treaty to which the Socialist Republic of Vietnam is a signatory;

- Trading in goods or services against Vietnam’s market opening commitments or the Law of Vietnam;

- Operating beyond the scope specified in the business license or license for establishment of retail outlet;

- Illegally establishing a retail outlet in Vietnam.

4. A fine ranging from VND 40.000.000 to VND 50.000.000 shall be imposed for continuing operations after the business license or license for establishment of retail outlet has been revoked by a competent authority or has been expired without renewal granted.

Concurrently, the business license or license for establishment of retail outlet shall be suspended for a fixed period of 01 - 03 months or business operations shall be suspended for a fixed period of 01 - 03 months. The violating entity is compelled to return any benefits illegally obtained from the commission of the violation.

View more details at the Decree No. 98/2020/NĐ-CP of Vietnam’s Government, issued on August 24, 2020.

Le Vy

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