FINE UP TO VND 15 MILLION FOR DECLARING THE BUSINESS REGISTRATION DOSSIER INACCURATELY
The Government issues the Decree No. 155/2013/ND-CP dated November 11, 2013 stipulating the sanctioning of administrative violations in the field of planning and investment. One of the most significant points is the regulation on sanctions for acts of administrative violations in the field of business registration by enterprises, business households, cooperatives and cooperative unions. Specifically, a fine of between VND 10,000,000 and VND 15,000,000 shall be imposed for acts of declaring untruthfully and inaccurately when making business registration of enterprise; registration of changes in the business registration contents; registration of operation of branches, representative offices, business spot, and registration of business dissolution. A fine of between VND 1,000,000 and VND 2,000,000, between VND 10,000,000 and VND 20,000,000, and between VND 25,000,000 and VND 30,000,000 respectively shall be imposed on organizations having acts of failing to disclose or improperly disclosing the business registration contents on the national registration portal as stipulated; failing to contribute the registered amount of capital and business behavior as enterprise but failing to register the business establishment or doing business as enterprise when having the business registration certificate revoked…
In addition to the fine level above, depending on the nature and severity of violation, a violating organization or individual may also be forced to take the remedial measures as follows: forced registration of changes and re-notification of the enterprise information that have been declared untruthfully and inaccurately; forced disclosure of the business registration content on the national registration portal as stipulated; forced procession of the dissolution procedures according to the law…
This Decree takes effect on January 01, 2014.
