Violations in the Accounting Sector Penalized Up to 100 Million VND

19:20, 10/07/2024

Decree 41/2018/ND-CP stipulating penalties for administrative violations in the field of accounting and independent auditing has just been issued by the Government of Vietnam, replacing Decree 105/2013/ND-CP.

violations in the field of accounting are subject to a maximum fine of 100 million VND for cases where the violator is an organization (current regulation is 60 million VND).

If an individual violates, the maximum fine is 50 million VND, an increase of 20 million VND compared to the current regulation. Additionally, the fine levels for many violations compared to the old regulations have changed significantly; for example:

- Erasing, altering accounting documents: Fine from 3 million VND to 5 million VND (old fine from 500 thousand VND to 1 million VND);- Altering, erasing to change the content of the Certificate of Eligibility for Accounting Services Business: Fine from 5 million VND to 10 million VND and confiscation of evidential material;- ...

For details, please see Decree 41/2018/ND-CP effective May 01, 2018.

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