How will organizations, individuals relating to the entities violating tax-related regulations be penalized?

Violating tax-related administrative regulations incurs risks for enterprises, but also for related entities and persons, who will be penalized as follows pursuant to Article 19, Decree 125/2020/ND-CP of the Government:

1. Fines ranging from VND 2,000,000 to VND 6,000,000 shall be imposed for the act of providing information, documents or records related to the determination of tax obligations or taxpayers’ accounts upon tax authorities’ request at least 05 days after expiration of the prescribed time limits.

2. Fines ranging from VND 6,000,000 to VND 16,000,000 shall be imposed for one of the following violations:

a) Colluding with and shielding taxpayers evading taxes, failing to execute decisions on enforcement of tax-related administrative actions, except the act of failing to withdrawing and remitting money from taxpayers’ accounts as provided in Article 18 herein;

b) Failing to provide or inaccurately providing information related to property, rights and obligations to property of taxpayers under their custody; accounts of taxpayers opened at credit institutions or state treasuries.

3. The amounts of fine specified in clause 1 and 2 of this Article are those imposed on entities. The amounts of fine imposed on persons shall conform to the principles prescribed in clause 5 of Article 4 herein.

4. Remedies: Compelling the provision of information with respect to the acts specified in point b of clause 2 of this Article.

As an established company in the field of tax and legal consulting, Vinasc hopes to adequately inform our customers to help them mitigate the risk during operation in Vietnam. Should there be any further concern, please contact Vinasc’s Customer Care department for timely support.