Penalties for violations of regulations on listing prices of goods and services in Vietnam (Latest)

Penalties for violations of regulations on listing prices of goods and services in Vietnam (Latest) (Image from the Internet)

Penalties for violations of regulations on listing prices of goods and services (Latest)

Article 13 of Decree 87/2024/ND-CP stipulates the penalty levels for violations of regulations on listing prices of goods and services in Vietnam (effective from July 12, 2024) as follows:

(1) A fine ranging from 500,000 VND to 1,000,000 VND for committing one of the following acts:

- Failing to list prices of goods and services in one of the forms as prescribed by law;

- listing prices of goods and services unclearly, causing confusion for customers;

- listing prices of goods and services incorrectly against the specific prices determined by competent state agencies or organizations, individuals.

(2) A fine ranging from 5,000,000 VND to 10,000,000 VND for selling higher than the listed prices of goods and services determined by organizations, individuals not falling under (3).

(3) A fine ranging from 20,000,000 VND to 30,000,000 VND for selling higher than the listed prices of goods and services included in the price stabilization list, goods and services during the period when the State implements price stabilization.

Note that the above fines apply only to individuals, for organizations committing violations the fines will be doubled.

In addition to being fined, individuals and organizations violating shall also implement the following remedial measures:

- Must implement proper listing of prices for violations under (1);

- Must repay the collected overcharged amount to customers for violations under (2) and (3).

Businesses and individuals dealing in goods and services must publicly announce the content of the remedial measures on public information media within 30 days; in cases where customers cannot be identified or customers refuse to receive, the entire amount of the price difference collected due to selling higher than the listed prices must be submitted into the state budget.

Regulations on price listing in Vietnam under the Price Law 2023

price listing is the public disclosure of purchase prices and sales prices of goods and services by businesses and individuals to ensure convenience for customers and competent state agencies in observing and recognizing.

The listed price is the purchase price and sale price of goods and services, including taxes, fees, and charges (if any) decided by businesses in Vietnamese Dong, except for cases implemented according to the regulations of foreign exchange laws. Listed prices should be tagged with the quantity or weight of the goods and services, appropriate specifications, origin, and purchasing method.

Businesses and individuals dealing in goods and services must ensure that price listings are clear and do not cause confusion about the purchase prices and sales prices of the goods and services by any of the following methods: printed, affixed, written on boards, papers, or directly printed on the packaging of goods, or other forms appropriate to the actual conditions at the points of sale or services, or on electronic information pages for easy observation and recognition by customers and competent state agencies.

Businesses and individuals must not sell at prices higher than the listed prices; for goods and services determined by the State with specific prices, businesses must list and sell at the prices issued by competent state agencies; for goods and services with minimum prices, maximum prices, or price ranges issued by competent state agencies, they must list and sell at prices appropriate to those prices. Businesses and individuals dealing in goods and services shall adjust the listed prices immediately upon any price changes of goods and services.

(Clause 15, Article 4 and Article 29 Price Law 2023)

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