How will violations against regulations on disclosure of transparency reports be penalized?

Posted by Vinasc post
Category:

How will violations against regulations on disclosure of transparency reports be penalized?

Vinascgroup

Pursuant to Article 58, Decree 41/2018/ND-CP, violations against regulations on disclosure of transparency reports shall be penalized as follows:

1. A warning shall be imposed on the auditing firm committing one of the following violations:

a) Lack of the legal representative or the approved person’s signature on the transparency report.

b) Publishing or updating the transparency report’s information less than 15 days after the specified deadline.

2. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed on the auditing firm publishing or updating the transparency report’s information on the firm’s website 15 days after the specified deadline or later.

3. A fine ranging from VND 10.000.000 to VND 20.000.000 shall be imposed on the auditing firm committing one of the following violations:

a) Failure to publish websites;

b) Failure to publish or update the transparency report’s information on the firm’s website;

c) Publishing false information in the transparency report.

4. Remedial Measure:

Rectify false or misleading information in case of the violation mentioned in Point c, 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.

Leave a Reply

error: Content is protected !!