How will violations against regulations on accounts be penalized?
How will violations against regulations on accounts be penalized?
Pursuant to Article 10, Decree 41/2018/ND-CP, violations against regulations on accounts will be penalized as follows:
1. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed for one of the following violations:
a) Failure to carry out bookkeeping as specified in the account;
b) Modifying the account’s bookkeeping contents and methods, or opening additional accounts without the Ministry of Finance’s approval required.
2. A fine ranging from VND 10.000.000 to 20.000.000 VND shall be imposed for failure to comply with the account system promulgated or approved by the Ministry of Finance.
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.
