Recently, the Minister of Finance of Vietnam has issued the Circular No. 87/2019/TT-BTC providing guidance on penalties for administrative violations in the state treasury sector.
According to Article 3 of the Circular No. 87/2019/TT-BTC of the Ministry of Finance of Vietnam, fines for violations against regulations on state budget expenditures which must be included in state budget estimates given by competent authorities are specified as follows:
- A fine of VND 1,500,000 shall be imposed for committing one of the violations prescribed in Clause 1 Article 54 of the Decree No. 63/2019/NĐ-CP if there are no aggravating or mitigating factors.
- A fine of VND 4,500,000 shall be imposed for committing one of the violations prescribed in Clause 2 Article 54 of the Decree No. 63/2019/NĐ-CP if there are no aggravating or mitigating factors.
Violations against regulations on state budget expenditures which must be included in state budget estimates given by competent authorities shall be determined according to Clause 1, Clause 2 Article 54 of the Decree No. 63/2019/NĐ-CP of Vietnam’s Government.
Moreover, the remedial measures specified in Clause 3 Article 54 of Decree No. 63/2019/NĐ-CP shall be taken against the violations which are detected after the State Treasury has made payments.
View more details at the Circular No. 87/2019/TT-BTC of the Ministry of Finance of Vietnam, effective from February 01, 2020.
Thu Ba
Address: | 19 Nguyen Gia Thieu, Vo Thi Sau Ward, District 3, Ho Chi Minh City |
Phone: | (028) 7302 2286 |
E-mail: | info@lawnet.vn |