Vietnam: Fine for providing false information about competition

According to Decree No. 75/2019/ND-CP of Vietnam’s Government, a fine ranging from VND 20,000,000 to VND 50,000,000 shall be imposed the party subject to the investigation or the person with relevant interests and duties for:

- Failing to provide information/documents as requested by the National Competition Committee, the authority in charge of investigation into the competition case or the anti-competitive case handling council;

- Falsifying or providing false information/documents;

- Forcing another person to provide false information/documents;

- Concealing or destroying information/documents relating to the competition case.

Besides, penalties for other acts are as follows:

- A warning shall be imposed upon the party subject to the investigation or the person with relevant interests and duties for failure to provide information/documents by the deadline requested by the National Competition Committee, the authority in charge of investigation into the competition case or the anti-competitive case handling council.

- A fine ranging from VND 10,000,000 to VND 20,000,000 shall be imposed upon the party subject to the investigation or the person with relevant interests and duties for failure to provide sufficient information/documents as requested by the National Competition Committee, the authority in charge of investigation into the competition case or the anti-competitive case handling council.

Thus, in comparison with Article 37 of Decree No. 71/2014/ND-CP, which is currently effective and expires from December 01, 2019, fine for the act of failing to provide information/documents as requested by the National Competition Committee specified in Decree No. 75/2019/ND-CP is significantly higher.

View more details at Decree No. 75/2019/ND-CP of Vietnam’s Government, effective from December 01, 2019.

Thu Ba

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