Overstatement of charter capital is fined up to VND 100 million

Overstatement of charter capital is fined up to VND 100 million
Bảo Ngọc

This is a notable content in Decree 122/2021/ND-CP stipulating penalties for administrative violations in the field of planning and investment.

Accordingly, acts of making false declaration of charter capital may result in a fine of up to VND 100 million, specifically as follows:

- A fine of between VND 20 and 30 million shall be imposed for making false declarations of charter capital with a value of less than VND 10 billion.

- A fine of between VND 30 million and VND 40 million shall be imposed for making false declarations of charter capital with a value of between VND 10 billion and under VND 20 billion.

- A fine of between VND 40 and 60 million shall be imposed for false declaration of charter capital with a value of between VND 20 billion and under VND 50 billion.

- A fine of between VND 60 and 80 million shall be imposed for making false declarations of charter capital with a value of between VND 50 billion and under VND 100 billion.

- A fine of between VND 80 and 100 million shall be imposed for making false declarations of charter capital with a value of VND 100 billion or more.

(According to the old regulations, the maximum penalty for failure to register changes with the business registration agency when not contributing enough charter capital as registered is 20 million dong).

In addition, remedial measures for violations on declaration of charter capital: Force registration to adjust charter capital equal to the actual contributed capital, for violations.

Decree 122/2021/ND-CP takes effect from January 1, 2022; replace Decree 50/2016/ND-CP .

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