Fines for Violations of Competition Law

Le Trang

17:19, 10/07/2024

The Competition Law 2018 promulgated by the National Assembly on June 12, 2018, stipulates acts related to competition; competition proceedings; handling of violations of competition laws; State management of competition.

The maximum monetary fines for breaches of competition law are stipulated as follows:

- For acts of anti-competitive agreements, abuse of market dominance, and abuse of monopoly positions: 10% of the total revenue of the violating enterprise in the relevant market in the financial year immediately preceding the year in which the violation occurred;- For acts breaching regulations on economic concentration: 5% of the total revenue of the violating enterprise in the relevant market in the financial year immediately preceding the year in which the violation occurred;- For acts breaching regulations on unfair competition: 2,000,000,000 VND;- For other violations: 200,000,000 VND.

More details can be found in the Competition Law 2018 effective from July 1, 2019.

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