Vietnam: Failure to make payment to the disaster preparedness fund shall be fined

According to Decree No. 104/2017/NĐ-CP of Vietnam’s Government, fines are specified as follows:

1. A fine of 2.0 times the payable amount of each payment shall be imposed for failure to make payment to the disaster preparedness fund as regulated by law. To be specific:

- Ending December 31 annually, an individual has still not yet made the full payment to the disaster preparedness fund;

- Ending October 30 annually, an economic organization with independent accounting fails to make the first payment, and ending December 31 annually, it fails to make the remaining amount to the disaster preparedness fund as regulated.

2. A fine of 1.5 times the payable amount of each payment shall be imposed for delaying payment of annually payable amounts to the disaster preparedness fund. To be specific:

- An individual makes compulsory payment to the disaster preparedness fund after May 30 to the end of December 31 annually;

- An economic organization with independent accounting makes the first payment to the disaster preparedness fund after May 30 but by October 30 annually, and pays the remaining amount to the same fund after October 30 to the end of December 31 annually.

3. A fine which is equal to the payable amount of each payment shall be imposed for failure to make full payment of annually payable amount to the disaster preparedness fund. To be specific:

An individual only makes part payment of the payable amount to the fund by May 30 but fully pays the remaining amount to the fund within duration from May 30 to the end of December 31 annually;

An economic organization with independent accounting:

- Partially makes the first payment of the payable amount to the fund by May 30 but fully pays the remaining amount of the first payment to the fund by October 30 annually; or

- Partially makes the second payment of the payable amount to the fund by October 30 but fully pays the remaining amount of the second payment to the fund by December 30 annually.

Decree No. 104/2017/NĐ-CP of Vietnam’s Government takes effect from November 01, 2017.

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