How will violations against regulations on accounting inspection be penalized?

Pursuant to Article 14, Decree 41/2018/ND-CP, violations against regulations on accounting inspection will be penalized as follows:

1. A fine ranging from VND 3.000.000 to VND 5.000.000 shall be imposed for one of the following violations:

a) Failure to provide sufficient relevant documents to the inspectorate;

b) Failure to fully comply with the conclusion given by the inspectorate.

2. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed in one of the following cases:

a) Failure to implement the competent authorities’ decision on accounting inspection;

b) Failure to provide relevant documents to the inspectorate;

c) Failure to translate accounting documents and records to Vietnamese upon the competent authorities’ request;

b) Failure to comply with the conclusion given by the inspectorates.

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.