How will violations against regulations on accounting records be penalized?
To understand more thoroughly about the penalties for specific violations against accounting regulations, we will respectively discuss each aspect of this field. First, pursuant to Article 8, Decree 41/2018/ND-CP, the fines for violations against regulations on accounting records, or vouchers are:
1. A fine ranging from VND 3.000.000 to VND 5.000.000 shall be imposed for one of the following violations:
a) Accounting record forms having insufficient mandatory content;
b) Tampering with accounting records;
c) Red or faded signatures on accounting records;
d) Using signature stamps on accounting records;
dd) Expense records do not have signatures on all copies.
2. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed for one of the following violations:
a) The accounting record having insufficient copies as specified in the regulations;
b) Signing accounting records which have insufficient contents;
c) Signing accounting records ultra vires;
d) Inconsistent signatures or signatures not matching those in the signature registry;
dd) Accounting records having insufficient signatures as specified in those records;
e) Failure to translate accounting records in foreign language to Vietnamese;
g) Loss or damage of accounting documents and records while in use.
3. A fine ranging from VND 20.000.000 to VND 30.000.000 shall be imposed for one of the following violations:
a) Forging or providing false information in accounting records but not serious enough for criminal prosecution;
b) Forging or providing false information in accounting records by means of collusion or coercion but not serious enough for criminal prosecution;
c) Inconsistency in the contents of copies of accounting records for the same transaction;
d) Failure to make accounting records for every economic/financial transaction;
dd) Make multiple accounting records for an economic/financial transaction;
e) Spending without sufficient signatures on the expense records as specified in the law on accounting.
4. Remedial measures:
a) Make sure the forms of accounting records mentioned in Point a, Clause 1 of this Article have sufficient mandatory content;
b) Destroy forged or falsified records in case of the violation specified in Point a, Clause 3 of this Article;
c) Make records for economic/financial transactions without them in the cases specified in Point d, Clause 3 of this Article;
d) Destroy the economic/financial transaction’s multiple records in case of the violation specified in Point e, Clause 3 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.