Vietnam: Enterprises that impose unreasonable sale prices shall be fined up to 10% of the turnover

15:21, 25/07/2014

This is a notable content mentioned in Decree No. 71/2014/NĐ-CP of Vietnam’s Government detailing the Law on Competition on the imposition of penalties for violations against the law on competition.

According to Decree No. 71/2014/NĐ-CP of Vietnam’s Government, any enterprise or each enterprise of any enterprise group having a monopoly shall be fined up to 10% of the turnover of the financial year before the year in which one of these violations is committed:

- Imposing the sale prices for goods and services, which causes damage to the customers;

- Imposing the minimum resale price, which causes damage to the customers.

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In addition to the fine prescribed above, any enterprise committing any violation against the regulations on the abuse of firms’ dominant market positions may be liable to some additional penalties and remedial measures prescribed in Clause 2 Article 16 of this Decree.

Also according to Decree No. 71/2014/NĐ-CP, any enterprise or each enterprise of any enterprise group having a monopoly, selling goods and providing services at a price below the fair value shall be fined up to 10% of the turnover of the financial year in which such violation is committed.

View full text at Decree No. 71/2014/NĐ-CP of Vietnam’s Government effective from September 15, 2014.

Thu Ba

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