Vietnam: Rectification of information printed on business license shall be fined up to VND 1,000,000

According to Clause 8 Article 1 of Decree No. 124/2015/NĐ-CP of Vietnam’s Government amending Article 7 of Decree No. 185/2013/NĐ-CP, “warnings or fines from VND 500,000 – 1,000,000 for illegal supplements, erasure or rectification of information printed on certificates for goods and services subject to business restriction”.

Besides, Decree No. 124/2015/NĐ-CP also stipulates fines for acts of violation in business activities according to business licenses:

A fine from VND 1,000,000 – 3,000,000 for one of the following acts:

- Lease out, lend, mortgage, sell or transfer certificates for goods and services subject to business restriction;

- Lease, borrow, receive a mortgage, buy or receive transfer of certificates for goods and services subject to business restriction.

A fine from VND 3,000,000 - 5,000,000 for business activities inconsistent with scope, entities, scale, time, administrative division, locations and commodities specified in granted certificates for goods and services subject to business restriction;

A fine from VND 5,000,000 – 10,000,000 for one of the following acts:

- Trade in goods and services subject to business restriction without certificates for goods and services subject to business restriction as prescribed;

- Trade in goods and services subject to business restriction when the certificate for goods and services subject to business restriction expires;

- Use the certificate for goods and services subject to business restriction owned by others for doing business;

A fine from VND 10,000,000 - 15,000,000 with respect to acts of continuing business activities which are currently being suspended by competent state management agencies or with Certificate for goods and services subject to business restriction being revoked.

Note: A fine twice the level for violations as prescribed above shall be imposed on activities of industrial production or distribution and trading in alcoholic, tobacco products, and tobacco ingredients committing administrative violations.

View other provisions at Decree No. 124/2015/NĐ-CP of Vietnam’s Government, effective from January 05, 2016.

Thu Ba

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