Maximum fine of 1 million VND for confusing customers regarding price listings in Vietnam

Maximum fine of 1 million VND for confusing customers regarding price listings in Vietnam (Image from Internet)

Maximum fine of 1 million VND for confusing customers regarding price listings in Vietnam

Price listing is the public disclosure of the purchase price and sale price of goods and services by organizations and individuals engaged in goods and service businesses to ensure convenient observation and recognition for customers and competent state authorities in Vietnam (according to Clause 15, Article 4 Price Law 2023).

Penalties for violations of price listing regulations for goods and services are stipulated in Article 13 of Decree 87/2024/ND-CP as follows:

(1) Fine from 500,000 VND to 1,000,000 VND for any of the following acts:

- Failure to list prices of goods and services in one of the legally prescribed forms;

- Listing prices of goods and services unclearly, causing confusion for customers in Vietnam;

- Listing prices of goods and services incorrectly compared to the specific prices determined by competent state authorities or decided by organizations and individuals.

(2) Fine from 5,000,000 VND to 10,000,000 VND for selling goods and services at prices higher than the listed prices determined by organizations and individuals, not specified in item (3).

(3) Fine from 20,000,000 VND to 30,000,000 VND for selling goods and services at prices higher than the listed prices for goods and services under the price stabilization list or during the period when the state implements price stabilization.

(4) Remedial measures:

- Must list prices conformably for the violation mentioned in Clause 1 of this Article;

- Must refund the differential amount to customers who were charged higher than the listed prices for violations of regulations in items (2) and (3).

Organizations and individuals engaged in goods and service businesses must publicly announce the remedial measures on public media within 30 days. If customers cannot be identified or refuse to receive the refund, they must pay the entire differential amount from selling above the listed prices to the state budget.

Regulations on price listing in Vietnam

Price listing is regulated by Article 29 of the Price Law 2023 as follows:

- Price listing is a form of public disclosure about prices. Listed prices include purchase and sale prices of goods and services, including all types of taxes, fees, and charges (if any) determined by organizations and individuals producing and trading in Vietnamese Dong, except for specific cases stipulated by foreign exchange laws. Listed prices must be linked to the quantity or weight of goods and services, along with other relevant information (if any) about the basic technical characteristics, origin, and purchasing and selling methods.

- Organizations and individuals engaged in goods and service businesses must list prices clearly and without causing confusion to customers about purchase and sale prices of goods and services by printing, pasting, writing information on boards, papers, or directly on the packaging of goods or other suitable methods based on the actual conditions at sales locations or on electronic information sites to facilitate observation and recognition by customers and competent state authorities.

- Organizations and individuals must not sell at prices higher than the listed prices. For goods and services with specific prices determined by the state, organizations and individuals must list and sell at prices set by competent state authorities. For goods and services with minimum, maximum, or framed prices specified by competent state authorities, they must list and sell at prices suitable to the minimum, maximum, or framed prices. Organizations and individuals must adjust listed prices immediately upon any changes in the prices of goods and services.

Tran Trong Tin

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