Vietnam: Foreign traders failing to make import and export reports shall be fined from VND 20 million to VND 30 million

According to Article 71 of the Decree No. 98/2020/NĐ-CP of Vietnam’s Government, fines for violations against regulations on exercise of import/export rights by foreign traders without presence 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 certificate of registration for export/import right;

- Failing to carry out registration of contact address with competent authorities;

- Failing to carry out procedures for modification, re-issuance or renewal of the certificate of registration for export/import right;

- Failing to implement or improperly implement regulations on publishing of the certificate of registration for export/import right on means of mass media of Vietnam after it has been issued, modified or renewed.

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 submit annual or ad hoc reports to competent authorities on the trader’s import/export or submitting reports that contain inadequate or inaccurate information or failing to submit reports by the prescribed deadline;

- Failing to send notification of operation termination to the issuing authority of the certificate of registration for export/import right or failing to send it within the prescribed time limit;

- Failing to publish the planned termination of operation on means of mass media of Vietnam or making such publishing against regulations.

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

- Forging documents included in the application for issuance, re-issuance, modification or renewal of the certificate of registration for export/import right, if not liable to criminal prosecution;

- Purchasing goods for export or selling imported goods with Vietnamese traders without carrying out business registration of such goods;

- Exporting goods other than the ones to be exported as specified in the issued, modified or renewed certificate of registration for export/import right;

- Importing goods other than the ones to be imported as specified in the issued, modified or renewed certificate of registration for export/import right.

4. A fine ranging from VND 40.000.000 to VND 50.000.000 shall be imposed for exporting or importing goods when the certificate of registration for export/import right has been revoked by a competent authority or has been expired without renewal granted.

Concurrently, the exhibits of the violation prescribed in Point d Clause 3 or Clause 4 of this Article shall be confiscated. The violating entity is compelled to transport out of the territory of the Socialist Republic of Vietnam via the checkpoint of importation or re-export the exhibits.

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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