How will violations against regulations on accounting service inspection be penalized?
Pursuant to Article 35, Decree 41/2018/ND-CP, violations against regulations on accounting service inspection shall be penalized as follows:
1. A fine ranging from VND 10.000.000 to VND 20.000.000 shall be imposed for one of the following violations:
a) Late or insufficient provision of information and documents upon request of the competent authority during the accounting service inspection process;
a) Providing false information and documents upon the competent authority’s request during the accounting service inspection process;
2. A fine ranging from VND 20.000.000 to VND 30.000.000 shall be imposed for one of the following violations:
a) Failure to provide information and documents upon the competent authority’s request during the accounting service inspection process;
b) Failure to explain to and cooperate with the competent authority during the accounting service inspection process.
3. Additional penalty:
The Vietnamese accounting firm committing any of the violations mentioned in Clause 2 of this Article shall have its certificate of eligibility to provide accounting services suspended for 1-3 months from the day the decision on penalty imposition comes into effect.
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.