Decree 87/2024/ND-CP sanctioning of administrative violations in the field of price

DECREE

On sanctioning of administrative violations in the field of price

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Pursuant to the Law on Organization of the Government dated June 19, 2015;

Pursuant to the Law on Organization of Local Administration dated June 19, 2015;

Pursuant to the Law on Amending and Supplementing a Number of Articles of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on Handling of Administrative Violations dated June 20, 2012; the Law on Amending and Supplementing a Number of Articles of the Law on Handling of Administrative Violations dated November 13, 2020;

Pursuant to the Law on Price dated June 19, 2023;

At the proposal of the Minister of Finance;

The Government promulgates the Decree on sanctioning of administrative violations in the field of price.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree prescribes administrative violations; completed and in-progress administrative violations; sanctions, sanctioning levels and remedial measures for each administrative violation; entities subject to sanctioning; sanctioning competence of and specific fines to be imposed by each title holder, and competence to make written records of administrative violations; application of sanctions against administrative violations and remedial measures in each field of price management (including price management and regulation by the State; price database; valuation; specialized inspection of prices, examination of the observance of the laws on price and valuation) and broadcasting of information on violations of the laws on price and valuation in the mass media.

Article 2. Subjects of application

1. Vietnamese individuals and organizations; foreign individuals and organizations (hereinafter referred to as individuals and organizations) committing acts of administrative violation specified in this Decree; persons competent to make written records, competent to sanctioning of administrative violations and other related individuals and organizations.

2. Institutional entities subject to sanctioning defined in this Decree include:

a) Economic organizations established under the Enterprise Law, including: sole proprietorships, joint stock companies, limited liability companies, partnerships and their subsidiary units (branches, representative offices);

b) Cooperatives and unions of cooperatives established in accordance with the Law on Cooperatives;

c) Organizations established under the Investment Law and the Commercial Law, including: domestic investors, foreign investors (except individual investors) and foreign-invested economic organization; representative offices and branches of foreign traders in Vietnam; representative offices of foreign trade promotion organizations in Vietnam;

d) Social organizations, socio-political organizations, socio-politico-professional organizations, socio-professional organizations;

dd) Public non-business units;

e) State agencies that commit violations not within the assigned state management tasks;

g) Other organizations as prescribed by law.

3. Business households, households, domestic investors and foreign investors who are individuals committing acts of administrative violation prescribed in this Decree shall be subject to sanctioning of administrative violation for individuals.

Article 3. Forms of administrative sanction, principles of application and remedial measures

1. Forms of sanctioning administrative violations include:

a) Fine;

b) Deprivation of the right to use the valuer cards for a definite time; suspension of the provision of valuation services for a definite time; suspension of the operation of training, retraining and updating knowledge on valuation for a definite time.

2. The form of sanctioning prescribed at Point a Clause 1 of this Article is imposed as the principal sanction. The form of sanctioning prescribed at Point b Clause 1 of this Article is imposed as the additional sanction.

3. The maximum fine levels to be imposed on individuals and organizations defined in this Decree are VND 150,000,000 and VND 300,000,000, respectively.

4. The fines and the competence to impose fines specified in this Decree are those applicable to individuals. The fines and competence to impose fines on organizations is twice higher than the fines and competence to impose fines on individuals.

5. The determination of aggravating circumstances and extenuating circumstances and the specific fine level for each act of administrative violation in the field of price shall comply with the Law on Handling of Administrative Violations and the Decree detailing a number of articles of, and providing measures to implement, the Law on Handling of Administrative Violations.

6. In case an individual or organization repeatedly commits an act of administrative violation, for acts of violation defined in this Decree, the aggravating circumstance of repeatedly committing an administrative violation shall apply, except for the acts of violation defined in Clause 1, Clause 2, Clause 3, Clause 4 and Clause 5 Article 7; Clause 4, Clause 5 and Clause 6 Article 20; Clause 3 Article 22; Clause 5 Article 23; Clause 4 Article 25 of this Decree, which shall be sanctioned for each violation.

7. In addition to the forms of sanction prescribed in Clause 1 of this Article, depending on the nature and seriousness of violations, the violators may also be subject to one or several remedial measures as follows:

a) Forcible proper compliance with, or forcible observance of, price valorization measures prescribed by competent agencies; forcible disclosure of full information on the price valorization funds as defined; forcible full reporting on the price valorization funds in accordance with regulations or at request by competent state agencies; forcible payment to the price valorization funds of amounts set aside or used in contravention of regulations or administrative documents of competent state agencies;

b) Forcible suspension of application of the selling prices of goods or services valued by organizations and individuals;

c) Forcible submission of the price declaration document, forcible price declaration or price listing in accordance with regulations;

d) Forcible return of the difference in price due to selling at a higher price than the prescribed price level, the amount of profits obtained for the act of administrative violation to customers;

dd) Forcible refund of illicit profits earned through the commission of acts of administrative violation;

e) Forcible submission of reports, provision of information and documents; forcible reporting, provision of additional information and documents; forcible provision and updating of price-related information in the price database in accordance with regulations;

g) Forcible disclosure of information in accordance with law on valuation;

h) Forcible reporting as prescribed by law on valuation;

i) Forcible purchase of professional liability insurance or setting up of professional risk reserve funds in accordance with law on valuation;

k) Forcible updating of valuation deeds in the national price database in accordance with law on valuation;

l) Forcible storage, preservation and exploitation of valuation dossiers in accordance with law on valuation;

m) Forcible explanation of valuation reports conducted by valuers to competent state agencies;

n) Forcible implementation of procedures for re-grant of certificates of eligibility for provision of valuation services;

o) Forcible provision of accurate and truthful information on qualifications, experience and capacity to provide services of valuers and valuation enterprises;

p) Forcible implementation of rules on control of quality of valuation reports;

q) Forcible re-grant of training certificates for learners attending the training and retraining courses;

r) Forcible revocation of training certificates or certifications on updating of knowledge on valuation and at the same time, forcible remittance of the amount of profits from the acts of violation to the state budget;

s) Force the revocation of training certificates, or certifications on updating of knowledge on valuation and at the same time, forcible refund of costs for training and retraining courses or knowledge updating courses for learners;

t) Forcible correction of information due to commission of the violation.

8. The execution of remedial measures shall comply with the Law on Handling of Administrative Violations and the Decree detailing a number of articles of, and providing measures to implement, the Law on Handling of Administrative Violations..

For remedial measures in Clause 2 Article 10, Point b Clause 4 Article 13, Point b Clause 5 Article 15 of this Decree, violators shall be responsible for coordinating with relevant organizations and individuals (if any) to execute remedial measures stated in the decisions in accordance with the law and must bear all expenses for the execution of such remedial measures. After the time limit for disclosure of the content of remedial measures on the mass media as prescribed, individuals and organizations committing administrative violations must report on the results on execution of remedial measures to the persons competent to issue the sanctioning decisions within 07 working days.

Article 4. Statute of limitations for sanctioning of administrative violations

1. The statute of limitations for sanctioning an administrative violation concerning the price management is defined in Article 6 of the Law on Handling of Administrative Violations.

2. The principle for determination of completed administrative violations, in-progress administrative violations for calculating the statute of limitations for sanctioning administrative violations in price management shall comply with the Decree detailing a number of articles of, and providing measures to implement, the Law on Handling of Administrative Violations.

Article 5. Posting of information on violations related to price and valuation

1. In case an administrative violation causes serious consequences or has a negative impact on public opinion, the head of the agency or unit of the person who has issued the sanctioning decision shall send a document on publicization and a copy of the decision on sanctioning of administrative violation to the website or newspaper of the ministerial-level or department-level management agency or provincial-level People's Committee of the locality where the act of administrative violation is committed within 03 working days from the date of issuance of the sanctioning decision.

2. The publicized contents shall be a copy of the decision on sanctioning of administrative violation.

3. The head of the press agency or the person in charge of management of the content of the website specified in Clause 1 of this Article shall be responsible for:

a) Posting a copy of a decision on sanctioning of administrative violation within 02 working days from the date of receipt of the document on publicization and a copy of the decision on sanctioning of administrative violation;

b) Posting the information on each decision on sanctioning of administrative violation at least once, posting time is at least 30 days;

c) Posting corrected information (if any) on the website or the next issue within 01 working day from the time of receiving the request for information correction.

4. The head of the agency or unit of the person who has issued the Decision on sanctioning of administrative violation shall be responsible for:

a) Take responsibility for publicized information;

b) Correct erroneous information within one working day after detecting an error or receiving a request for correction.

5. Correction of information:

a) In case the website or newspaper incorrectly publishes the information specified in Clause 2 of this Article, it must properly correct the column or position in which the erroneous information was posted within 1 working day from the date of detecting or receiving the correction request on the website or the next issue and must bear the cost of correction;

b) The correction is made once for each decision on sanctioning of administrative violation, the posting period is at least 30 days.

6. Expenses for publicization and correction of information are covered by regular operating funds of agencies or units of persons who have issued decisions on sanctioning of administrative violation.

Chapter II

ACTS OF ADMINISTRATIVE VIOLATION, SANCTIONS AND REMEDIAL MEASURES IN THE FIELD OF PRICE MANAGEMENT AND REGULATION AND PRICE DATABASE

Article 6. Sanctioning for acts in observance of price valorization measures of competent state agencies

1. A fine of between VND 10,000,000 and VND 20,000,000 shall be imposed for the act of failing to properly comply with one of price valorization measures defined by competent agencies.

2. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for the act of failing to comply with one of price valorization measures defined by competent agencies.

3. Remedial measures:

a) Forcible proper compliance with price valorization measures prescribed by competent agencies, for the act of violation specified in Clause 1 of this Article during the duration of application of price valorization measures prescribed by competent state agencies;

b) Forcible observance of price valorization measures, for the act of violation specified in Clause 2 of this Article during the duration of application of price valorization measures prescribed by competent state agencies.

Article 7. Sanctioning for acts of violation of regulations on management and use of price valorization funds

1. For the acts of failing to fully publicize or failing to publicize on time or failing to publicize the information about price valorization funds in accordance with law regulations:

a) A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for the act of failing to fully publicize the information about price valorization funds in accordance with law regulations;

b) A fine of between VND 30,000,000 and VND 50,000,000 shall be imposed for the act of publicizing the information about price valorization funds in accordance with law regulations within from 1 working day to 5 working days, after the required date of publicization;

c) A fine of between VND 50,000,000 and VND 70,000,000 shall be imposed for the act of failing to publicize the information about price valorization funds in accordance with law regulations after 05 working days, from the required date of publicization.

2. For the acts of failing to report or failing to report on the price valorization funds accurately or on time in accordance with law regulations or at request by competent state agencies:

a) A fine of between VND 20,000,000 and VND 40,000,000 shall be imposed for the act of failing to fully report on the price valorization funds in accordance with law regulations or at request by competent state agencies;

b) A fine of between VND 10,000,000 and VND 20,000,000 shall be imposed for the act of reporting on the price valorization funds in accordance with law regulations or at request by competent state agencies within 3 working days from the required date of reporting;

c) A fine of between VND 30,000,000 and VND 50,000,000 shall be imposed for the act of reporting on the price valorization funds within 4 working days to 5 working days after the date of reporting defined by law or requested by competent state agencies;

d) A fine of between VND 50,000,000 and VND 70,000,000 shall be imposed for the act of failing to report on the price valorization funds in accordance with law regulations or at request by competent state agencies after 05 working days from the required date of reporting or failing to report accurately on the price valorization funds.

3. A fine of between VND 60,000,000 and VND 80,000,000 shall be imposed for the act of failing to fully set aside the price valorization funds in accordance with law regulations.

4. A fine of between VND 80,000,000 and VND 100,000,000 shall be imposed for the act of failing to set aside the price valorization funds in accordance with law regulations.

5. A fine of between VND 120,000,000 and VND 150,000,000 shall be imposed for the act of using the price valorization funds in contravention of law regulations.

6. Remedial measures:

a) Forcible disclosure of full information on the price valorization funds as defined, for the acts of violation defined at Points a and c Clause 1 of this Article;

b) Forcible full reporting on the price valorization funds in accordance with regulations or at request by competent state agencies, for the act of violation defined at Point a Clause 2 of this Article;

c) Forcible reporting on the price valorization funds in accordance with regulations or at request by competent state agencies, for the act of violation defined at Point d Clause 2 of this Article;

d) Forcible payment to the price valorization funds of the entire amount obtained from failure to set aside or failure to fully set aside the price valorization funds (if any), for the acts of violation specified in Clauses 3 and 4 of this Article;

dd) Forcible payment to the price valorization funds of the entire amount of improper use of price valorization funds, for the acts of violation specified in Clause 5 of this Article;

e) Forcible payment to the budget of the entire illicit profits (if any) earned from the price valorization funds through failure to fully set aside, failure to set aside or use in contravention of purposes defined by the law on price valorization funds as defined in Clauses 3, 4 and 5 of this Article.

Article 8. Sanctioning for acts of violation of regulations on reporting, provision of information and documents on prices in accordance with regulations or documents of competent state agencies to serve price management and regulation

1. A fine of between VND 1,000,000 and VND 2,000,000 shall be imposed for any of the following acts of violation:

a) Submitting reports or providing information and documents within 03 to 05 working days after the prescribed time limit or after the time limit stated in the written request of the competent state management agency;

b) Failing to fully report and provide complete information and documents as prescribed or requested by competent state management agencies.

2. A fine of between VND 2,000,000 and VND 5,000,000 shall be imposed for the acts of violation defined at Point a Clause 1 of this Article within from 06 working days to 10 working days.

3. A fine of between VND 5,000,000 and VND 10,000,000 shall be imposed for the acts of violation defined at Point a Clause 1 of this Article after 10 working days.

4. Remedial measures:

a) Forcible submission of reports or provision of information and documents in accordance with regulations or according to the written request of the competent state management agency, for the acts of violation defined in Clause 3 of this Article;

b) Forcible making of additional report or provision of additional information and documents, for the acts of violation prescribed at Point b Clause 1 of this Article.

Article 9. Sanctioning for acts of violation of regulations on submission of plans on prices of goods or services or reports on detailed assessment of constituents of prices of goods or services, provision of relevant data and documents at the request of competent state agencies

1. A fine of between VND 1,000,000 and VND 5,000,000 shall be imposed for any of the following acts of violation:

a) Submitting plans on prices of goods or services or reports on detailed assessment of constituents of prices of goods or services, or providing relevant data and documents after the time limit within 3 working days to 5 working days from the date of sending defined by law or requested by competent state agencies;

b) Failing to submit complete dossiers of price plans for goods or services as prescribed by law.

2. A fine of between VND 5,000,000 and VND 10,000,000 shall be imposed for the acts of violation defined at Point a Clause 1 of this Article within from 06 working days to 10 working days from the required date of formulation of plans on prices as specified by law.

3. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for the act of submitting or failing to submit plans on prices of goods or services or reports on detailed assessment of constituents of prices of goods or services, or provide relevant data and documents within 10 working days from the required date of formulation of plans on prices as specified by law.

4. Remedial measures:

a) Forcible submission of plans on prices of goods or services or reports on detailed assessment of constituents of prices of goods or services, provision of relevant data and documents at the request of competent state agencies, for the act of violation defined in Clause 3 of this Article;

b) Forcible submission or additional reporting, provision of additional relevant data and documents at the request of competent state agencies, for the acts of violation defined in Clause 1, Clause 2 and Clause 3 of this Article.

Article 10. Sanctioning for acts of violation of regulations on pricing and selling of goods or providing service in contravention of competent state agencies’ regulations

1. A fine of between VND 10,000,000 and VND 20,000,000 shall be imposed for any of the following acts of violation:

a) Selling of goods or providing service, not using the prices of goods or services priced by the State;

b) Selling of goods or providing service with the price higher than the maximum price of price bracket set by the State;

c) Selling of goods or providing service with the price lower than the minimum price of price bracket set by the State;

d) Selling of goods or providing service with the price higher than the maximum price set by the State;

dd) Selling of goods or providing service with the price lower than the minimum price set by the State.

2. Remedial measures: Forcible return of the entire difference in price due to selling price higher than the prescribed price level caused by the acts of violation defined at Point a, Point b and Point d Clause 1 of this Article.

Organizations or individuals trading in goods or services shall publicly announce the content of the above remedial measure in mass media within 30 days. In case the customers cannot be identified or the customers refuses to receive such amount, the entire difference in price due to selling price higher than the defined price shall be remitted to the state budget.

Article 11. Sanctioning for acts of violation of regulations on price negotiation

A fine of between VND 30,000,000 and VND 40,000,000 shall be imposed for the act of not properly implementing the minutes acknowledging the negotiation results or price-setting document of the price negotiation agency.

Article 12. Sanctioning of violations of regulations on declaration of goods or service prices

1. A fine of between VND 3,000,000 and VND 5,000,000 shall be imposed for the act of declaring insufficient contents or failing to make declaration using the form of price declaration document.

2. For the act of declaring the incorrect selling prices or failing to make declaration of prices to the competent state agencies in accordance with regulations:

a) A fine of between VND 10,000,000 and VND 15,000,000 shall be imposed for the act of declaring the incorrect selling prices or failing to make declaration of prices for 01 to 10 specific goods or services subject to price declaration;

b) A fine of between VND 15,000,000 and VND 20,000,000 shall be imposed for the act of declaring the incorrect selling prices or failing to make declaration of prices for 11 to 20 specific goods or services subject to price declaration;

c) A fine of between VND 20,000,000 and VND 25,000,000 shall be imposed for the act of declaring the incorrect selling prices or failing to make declaration of prices for 21 or more specific goods or services subject to price declaration.

3. Remedial measures:

a) Forcible submission of the price declaration document with sufficient contents or made using the defined form, for the act of violation specified in Clause 1 of this Article;

b) Forcible price declaration according to the actual prices, for the act of violation specified in Clause 2 of this Article.

Article 13. Sanctioning of violations of regulations on listing prices of goods or services

1. A fine of between VND 500,000 and VND 1,000,000 shall be imposed for any of the following acts of violations:

a) Failing to list prices of goods or services by one of the methods defined by laws;

b) Failing to list prices of goods or services in a transparent manner which mislead customers;

c) Listing prices of goods or services not being specific prices decided by competent state agencies or organizations or individuals.

2. A fine of between VND 5,000,000 and VND 10,000,000 shall be imposed for the act of selling goods or services at prices higher than listed prices, for goods and services priced or with prices declared by organizations or individuals other than those defined in Clause 3 of this Article.

3. A fine of between VND 5,000,000 and VND 10,000,000 shall be imposed for the act of selling goods or services at prices higher than listed prices, for goods and services on the list of goods and services subject to price valorization; goods and services during the time the State organizes the price valorization.

4. Remedial measures:

a) Forcible price listing in accordance with regulations, for the act of violation specified in Clause 1 of this Article.

b) Forcible return of the collected difference amount due to the actual price higher than the listed price, for the acts of violation defined in Clauses 2 and 3 of this Article.

Organizations or individuals trading in goods or services shall publicly announce the content of the above remedial measure in mass media within 30 days. In case the customers cannot be identified or the customers refuses to receive such amount, the entire difference in price due to selling price higher than the listed price shall be remitted to the state budget.

Article 14. Sanctioning of violations of regulations on compliance with inspection and examination decisions in price management

1. A fine of between VND 2,000,000 and VND 5,000,000 shall be imposed for any of the following acts of violations:

a) Failing to receive the decision on inspection and examination on price management when being assigned or sent by a competent agency as prescribed;

b) Failing to comply with the decision on inspection and examination on price management as notified by a competent state agency;

c) Failing to provide dossiers and documents as requested by a competent agency or person during the inspection and examination at the inspection location;

d) Failing to provide complete or accurate information and documents as requested by a competent agency or person during the inspection and examination at the inspection location;

dd) Failing to sign the minutes on inspection and examination within 05 working days from the date of preparation or the date of publicization of the minutes.

2. A fine of between VND 5,000,000 and VND 10,000,000 shall be imposed for recidivism of the acts of violation defined in Clause 1 of this Article.

3. Remedial measures: Forcible provision of related information and documents, for the act specified at Point c, Clause 1 of this Article; Forcible provision of complete and accurate information and documents, for the act specified at Point d Clause 1 of this Article.

Article 15. Sanctioning of other violations related to price management

1. A fine of between VND 15,000,000 and VND 20,000,000 shall be imposed for the act of spreading or providing untruthful or inaccurate information on the socio-economic situation, leading to confusing market information and goods and service prices.

2. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for any of the following acts of violation:

a) Committing price frauds by intentionally changing without prior notice to customers commitments in transactions regarding the time, place, purchase and sale conditions, transport and payment modes; quality, quantity, functions and utilities of goods or services at the time of goods delivery or service provision;

b) Obstructing price management and regulation and valuation activities of competent state agencies by directly or indirectly influencing such process through actions or words, thereby creating difficulties in law enforcement.

3. A fine of between VND 30,000,000 and VND 50,000,000 shall be imposed for the act of colluding or reaching agreement with, one another to falsify goods or service prices for self-seeking or profiteering purposes; or committing collusion in prices for profiteering purpose.

4. A fine of between VND 50,000,000 and VND 80,000,000 shall be imposed for the act of taking advantage of a state of emergency, an incident, a natural disaster or an epidemic to increase selling prices of goods or services not in conformity with changes in total costs as compared to normal conditions for profiteering purpose.

The acts of abusing the dominant market position or abusing the monopoly position shall be handled in accordance with the regulations on sanctioning of administrative violation in the field of competition.

5. Remedial measures:

a) Forcible correction of information due to commission of the violation prescribed in Clause 1 of this Article.

b) Forcible return of the amount of profits obtained for the act of administrative violation defined at Point a Clause 2, Clause 3, Clause 4 of this Article to customers. Organizations or individuals trading in goods or services shall publicly announce the content of the above remedial measure in mass media within 30 days. In case the customers cannot be identified or the customers refuse to receive such amount, the entire difference in price due to frauds shall be remitted to the state budget.

Article 16. Sanctioning of violations related to building, exploitation and use of price database for organizations and individuals trading in goods and services

1. A fine of between VND 1,000,000 and VND 2,000,000 shall be imposed for any of the following acts of violation:

a) Failing to provide information or update information on prices;

b) Providing information or updating information on prices in contravention of regulations;

c) Providing information or updating incorrect information to the price database.

2. A fine of between VND 2,000,000 and VND 5,000,000 shall be imposed for the act of using price data in the price database for purposes other than those permitted by the competent agency managing that database.

3. Remedial measures:

a) Forcible provision of information on price or updating of information on price for the act of violation specified at Point a Clause 1 of this Article.

b) Forcible provision of information or updating of information in accordance with regulations, for the acts of violation prescribed at Point b and Point c, Clause 1 of this Article.

Chapter III

ACTS OF ADMINISTRATIVE VIOLATION, SANCTIONS AND REMEDIAL MEASURES IN THE FIELD OF VALUATION

Article 17. Sanctioning of violations of regulations on disclosure of information

1. A fine of between VND 3,000,000 and VND 5,000,000 shall be imposed for the act of failing to fully publicize the valuation-related information in accordance with regulations.

2. A fine of between VND 5,000,000 and VND 8,000,000 shall be imposed for the act of failing to publicize the valuation-related information in accordance with regulations.

3. Remedial measures: Forcible disclosure of information in accordance with law regulations on valuation, for the acts of violation defined in Clause 1 and Clause 2 of this Article.

Article 18. Sanctioning of violations of regulations on reporting regime in valuation

1. A fine of between VND 5,000,000 and VND 8,000,000 shall be imposed for any of the following acts of violation:

a) A report is made, not using the form prescribed by law on valuation;

b) A report does not contain full contents as prescribed by law on valuation.

2. A fine of between VND 8,000,000 and VND 10,000,000 shall be imposed for the act of reporting in accordance with the law on valuation within a period of between 15 to 30 days from the prescribed date of reporting in the following cases:

a) Change in valuers in case a valuer in an enterprise no longer satisfies the conditions for valuation practice registration or changes the place of valuation practice registration;

b) Change in the information stated in the certificate of eligibility for provision of valuation services, including: information about the enterprise and its branches; information about legal representatives of valuation enterprise and the head of the enterprise branch stated in the certificate of eligibility for provision of valuation services.

3. A fine of between VND 12,000,000 and VND 15,000,000 shall be imposed for the act of reporting specified in Clause 2 of this Article within between 31 days and 45 days from the defined date of reporting.

4. A fine of between VND 15,000,000 and VND 20,000,000 shall be imposed for any of the following acts of violation:

a) Making report as prescribed in Clause 2 of this Article after 45 days from the defined date of reporting;

b) Making periodic report as prescribed by law regulations on valuation after 15 days from the defined date of periodic reporting;

c) Ad hoc reporting as prescribed by law regulations on valuation after 05 days from the defined date of ad hoc reporting;

d) Failing to make report as prescribed in Clause 2 of this Article after 45 days from the defined date of reporting;

dd) Failing to make periodic report as prescribed by law regulations on valuation after 15 days from the defined date of periodic reporting;

e) Failing to make ad hoc report as prescribed by law regulations on valuation after 05 days from the defined date of ad hoc reporting.

5. Remedial measures: Forcible making of report in accordance with law regulations on valuation, for the acts of violation defined at Point d, Point dd and Point e Clause 4 of this Article.

Article 19. Sanctioning of violations of regulations on purchase of professional liability insurance and setting up of professional risk reserve funds

1. A fine of between VND 10,000,000 and VND 15,000,000 shall be imposed for the act of failing to set up professional risk reserve funds with the amount as defined by law regulations.

2. A fine of between VND 15,000,000 and VND 20,000,000 shall be imposed for the act of failing to buy professional liability insurance for valuation activities and failing to set up professional risk reserve funds in accordance with law regulations.

3. Remedial measures:

a) Forcible setting up of professional risk reserve funds in accordance with law on valuation, for the act of violation defined in Clause 1 of this Article;

b) Forcible purchase of professional liability insurance or setting up of professional risk reserve funds in accordance with law on valuation, for the act of violation defined in Clause 2 of this Article.

Article 20. Sanctioning of violations of regulations on making and issuance of valuation deeds and valuation reports

1. A fine of between VND 10,000,000 and VND 15,000,000 shall be imposed for any of the following acts of violation:

a) Making valuation deeds without using the form defined in the Vietnamese valuation standards.

b) Failing to fully update valuation deeds to the National Price Database in accordance with law on valuation.

2. A fine of between VND 15,000,000 and VND 20,000,000 shall be imposed for the act of failing to update valuation deeds to the National Price Database as prescribed by law on valuation.

3. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for any of the following acts of violation:

a) Making valuation deeds and valuation reports without full basic contents as defined in the Vietnamese valuation standards.

b) Issuing valuation deeds and valuation reports ultra vires by valuation enterprise’s subsidiary under the law on valuation.

4. A fine of between VND 30,000,000 and VND 40,000,000 shall be imposed for any of the following acts of violation:

a) Making valuation deeds and valuation reports in personal capacity;

b) Issuing valuation deeds not attached with valuation reports or vice versa.

5. A fine of between VND 40,000,000 and VND 50,000,000 shall be imposed for any of the following acts of violation:

a) Signing valuation deeds and reports beyond their professional expertise or in contravention of state agencies’ notices of their permissible fields of practice; signing valuation deeds and reports while failing to satisfy the conditions for valuation practice registration as defined;

b) Issuing valuation deeds and valuation reports in case the at-law representative of the valuation enterprise or the head of a subsidiary of a valuation enterprise is no longer a valuer at the enterprise or fails to satisfy the conditions for valuation practice.

6. A fine of between VND 50,000,000 and VND 60,000,000 shall be imposed for any of the following acts of violation:

a) Making or issuing blank valuation deeds, valuation reports, documents related to valuation in accordance with the Vietnamese valuation standards.

b) Issuing valuation deeds and valuation reports in case of valuation enterprises suspended from provision of valuation services.

7. Additional sanctions:

a) Deprivation of the right to use the valuer cards for a definite time of from 01 month to 02 months from the effective date of the sanctioning decision, for the act of violation defined at Point a Clause 5 of this Article;

b) Suspension of the provision of valuation services for a definite time of from 1 month to 2 months from the effective date of the sanctioning decision, for the act of violation defined at Point b Clause 5 of this Article;

c) Deprivation of the right to use the valuer cards for a definite time of from 02 months to 03 months from the effective date of the sanctioning decision, for the act of violation defined at Point a Clause 6 of this Article;

d) Suspension of the provision of valuation services for a definite time of from 04 months to 06 months from the effective date of the sanctioning decision, for the acts of violation defined in Clause 6 of this Article.

8. Remedial measures: Forcible updating of valuation deeds to the National Price Database in accordance with law on valuation, for the act of violation defined in Clause 2 of this Article.

Article 21. Sanctioning of violations of regulations on storage, preservation and exploitation of valuation dossiers

1. A fine of between VND 10,000,000 and VND 20,000,000 shall be imposed for any of the following acts of violation:

a) Failing to fully store valuation dossiers in accordance with law regulations;

b) Failing to comply with the law regulations on preservation and exploitation of valuation dossiers.

2. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for the act of modifying or changing contents of the stored valuation dossiers.

3. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for the act of failing to present valuation dossiers due to no storage in accordance with law regulations.

4. Remedial measures: Forcible storage, preservation and exploitation of valuation dossiers in accordance with law regulations on valuation, for the acts of violation defined in Clause 1 and Clause 2 of this Article.

Article 22. Sanctioning of violations of regulations on valuation practice

1. A fine of between VND 10,000,000 and VND 15,000,000 shall be imposed for the act of failing to make explanation of valuation reports conducted by valuers to competent state agencies upon request in accordance with law regulations.

2. A fine of between VND 30,000,000 and VND 40,000,000 shall be imposed for any of the following acts of violation:

a) Failing to properly comply with the guidance on collection of information about the assets subject to valuation and information serving the valuation process prescribed in the Vietnamese valuation standard;

b) Failing to properly implement the valuation approach and methods prescribed in the Vietnamese valuation standard;

c) Failing to fully apply the valuation methods prescribed in the Vietnamese valuation standard.

3. A fine of between VND 80,000,000 and VND 100,000,000 shall be imposed for the act of forging, leasing, lending or using the valuer cards in contravention of the Law on Price and relevant law regulations, which is not serious enough for penal liability examination under the Penal Code.

4. Additional sanctions:

a) Deprivation of the right to use the valuer cards for a definite time of from 02 months to 03 months from the effective date of the sanctioning decision, for the acts of violation defined in Clause 2 of this Article;

b) Deprivation of the right to use the valuer cards for a definite time of from 06 months to 09 months from the effective date of the sanctioning decision, for the acts of violation defined in Clause 3 of this Article, except for the case of forging valuer cards.

5. Remedial measures: Forcible explanation of valuation reports conducted by valuers to competent state agencies, for the act of violation defined in Clause 1 of this Article.

Article 23. Sanctioning of violations of other regulations on valuation

1. A fine of between VND 5,000,000 and VND 8,000,000 shall be imposed for the act of providing valuation service without a valuation contract.

2. A fine of between VND 8,000,000 and VND 10,000,000 shall be imposed for any of the following acts of violation:

a) Failing to carry out the procedures for re-grant of certificates of eligibility for provision of valuation services after the defined time limit from the date of any change in information stated in certificates of eligibility for provision of valuation services;

b) Signing valuation contracts without permission in accordance with law regulations on valuation.

3. A fine of between VND 10,000,000 and VND 20,000,000 shall be imposed for any of the following acts of violation:

a) Providing inaccurate and untruthful information on qualifications, experience and capacity to provide services of valuers and valuation enterprises;

b) Making inaccurate and untruthful declarations for registration of grant or re-grant of certificates of eligibility for provision of valuation services or dossiers for practice registration of valuers;

c) Formulating but failing to implement rules on control of quality of valuation reports serving the issuance and provision of valuation deeds to valuation clients.

4. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for any of the following acts of violation:

a) Failing to formulate rules on control of quality of valuation reports and failing to implement rules on control of quality of valuation reports serving the issuance and provision of valuation deeds to valuation clients;

b) Providing valuation service or carrying out valuation for affiliated persons of their valuation enterprises in accordance with the law on enterprises;

c) Obstructing valuation activities of competent state agencies or issuing documents providing forms or conditions to inhibit operation of valuation enterprises and valuers in contravention of the Law on Price.

5. A fine of between VND 100,000,000 and VND 150,000,000 shall be imposed for the act of buying off, giving bribes to, colluding or reaching agreement with, one another to falsify value of assets subject to valuation for self-seeking purposes; committing collusion in valuation, which is not serious enough for penal liability examination under the Penal Code.

6. Additional sanctions: Suspension of the provision of valuation services for a definite time of from 6 months to 9 months from the effective date of the sanctioning decision, for the acts of violation defined in Clause 5 of this Article.

7. Remedial measures:

a) Forcible implementation of procedures for re-grant of certificates of eligibility for provision of valuation services, for the acts of violation defined at Poit a Clause 2 of this Article;

b) Forcible provision of accurate and truthful information on qualifications, experience and capacity to provide services of valuers and valuation enterprises, for the act of violation defined at Point a Clause 3 of this Article;

c) Forcible implementation of rules on control of quality of valuation reports, for the acts of violation defined at Point c Clause 3 and Point a Clause 4 of this Article.

Article 24. Sanctioning of violations of regulations on provision of information about assets subject to valuation and use of valuation deeds for valuation clients and third parties named in valuation contracts

1. A fine of between VND 5,000,000 and VND 10,000,000 shall be imposed for any of the following acts of violation:

a) Using expired valuation deeds;

b) Using valuation deeds not for the valuation purpose in association with accurate information about assets subject to valuation and quantity of such assets as stated in valuation contracts.

2. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for the act of intentionally providing false information on assets subject to valuation.

Article 25. Sanctioning of violations of regulations on training, retraining, updating of knowledge on valuation

1. A fine of between VND 5,000,000 and VND 10,000,000 shall be imposed for any of the following acts of violation:

a) Failing to collect learners' assessment on the class quality assessment form as prescribed;

b) Failing to make report according to regulations on the reporting regime for training, retraining, and updating knowledge on valuation.

2. A fine of between VND 10,000,000 and VND 25,000,000 shall be imposed for any of the following acts of violation:

a) Organizing classes with learners more than the number prescribed by law regulations on valuation;

b) Failing to ensure the content, program, and duration of courses as prescribed;

c) Arranging lecturers who do not meet the criteria prescribed by law regulations on valuation;

d) Compiling and using documents for training, retraining and updating of knowledge that are not in accordance with the curriculum framework as prescribed by law regulations on valuation;

dd) Conducting assessment of learning outcomes in contravention of law regulations on valuation;

e) Issuing certificates that are not in accordance with the certificate form prescribed by the Ministry of Finance;

g) Storing dossiers related to training, retraining and updating of knowledge in contravention of law regulations on valuation.

3. A fine of between VND 15,000,000 and VND 30,000,000 shall be imposed for any of the following acts of violation:

a) Granting certificates and certifications to learners who do not meet the requirements of the law on study time and testing results;

b) Granting certificates and certifications to those who do not actually attend the course.

4. A fine of between VND 20,000,000 and VND 35,000,000 shall be imposed for any of the following acts of violation:

a) Opening a class without meeting the requirements and conditions as prescribed by the Ministry of Finance;

b) Opening a class and granting training certificates or certifications on updating of knowledge on valuation when not being eligible for organization of training, retraining, and updating of knowledge as prescribed by the Ministry of Finance.

5. Additional sanctions:

a) Suspension of the opening of training, retraining and knowledge updating courses for a period of from 01 month to 02 months from the effective date of the sanctioning decision, for the act of violation specified at Point b Clause 3 of this Article;

b) Suspension of the opening of training, retraining and knowledge updating courses for a period of from 02 months to 03 months from the effective date of the sanctioning decision, for the act of violation specified in Clause 4 of this Article.

6. Remedial measures:

a) Forcible reporting in accordance with regulations on reporting regime of training, retraining and updating knowledge on valuation, for the act of violation defined at Point b Clause 1 of this Article;

b) Forcible re-grant of training certificates for learners attending the training and retraining courses, for the act of violation defined at Point e Clause 2 of this Article;

c) Forcible revocation of training certificates or certifications on updating of knowledge on valuation and at the same time, forcible remittance of the amount of profits from the acts of violation to the state budget, for the act of violation defined at Point b Clause 3 of this Article;

d) Force the revocation of training certificates, or certifications on updating of knowledge on valuation and at the same time, forcible refund of costs for training and retraining courses or knowledge updating courses for learners, for the acts of violation defined in Clause 4 of this Article.

Chapter IV

COMPETENCE TO MAKE WRITTEN RECORDS AND SANCTION ADMINISTRATIVE VIOLATIONS

Article 26. Competence to make written records of administrative violations

1. Persons competent to make written records of administrative violations prescribed in this Article have the right to make written records of administrative violations within the scope of performing official duties and assigned tasks according to the prescribed form and are responsible for making the records.

2. The following persons have the competence to make written records of administrative violations:

a) Persons competent to sanction administrative violations as prescribed in this Decree;

b) Civil servants, public employees and persons of the People's Public Security force who are on public duty or performing their tasks as assigned.

Article 27. Competence of inspectorates to sanction administrative violations:

1. Chiefs of Inspectorates of ministries and ministerial-level agencies; Director of the Department of Price Management may:

a) Impose a fine of up to VND 150,000,000 for the acts of violations prescribed in this Decree;

b) Apply the additional sanction defined at Point b Clause 1 Article 3 and remedial measures specified in Clause 7 Article 3 of this Decree.

2. Chiefs of Inspectorates of provincial-level Departments; heads of specialized inspection teams of agencies assigned to perform the function of specialized inspection on price may:

a) Impose a fine of up to VND 50,000,000 for the acts of violations prescribed in this Decree;

b) Apply the additional sanction defined at Point b Clause 1 Article 3 and remedial measures specified in Clause 7 Article 3 of this Decree.

Article 28. Competence of Chairpersons of People’s Committees to sanction administrative violations

Chairpersons of People's Committees at all levels are competent to sanction administrative violations in the field of price management at localities.

1. Chairpersons of provincial-level People’s Committees may:

a) Impose a fine of up to VND 150,000,000 for the acts of violation related to price management;

b) Apply the additional sanction defined at Point b Clause 1 Article 3 and remedial measures specified in Clause 7 Article 3 of this Decree.

2. Chairpersons of district-level People’s Committees may:

a) Impose a fine of up to VND 75,000,000;

b) Apply the additional sanction defined at Point b Clause 1 Article 3 and remedial measures specified in Clause 7 Article 3 of this Decree.

3. Chairpersons of commune-level People’s Committees may impose a fine of up to VND 5,000,000.

Article 29. Competence of Market Surveillance Force to sanction administrative violations

Competent persons of market surveillance agencies prescribed in Article 45 of the Law on Handling of Administrative Violations has the competence to impose administrative sanctions prescribed in Article 6, Clause 1 Article 7, Article 8, Article 10, Article 11, Article 13, Article 15 of this Decree, specifically as follows:

1. The Director General of Vietnam Directorate of Market Surveillance may:

a) Impose a fine of up to VND 150,000,000;

b) Apply the remedial measures prescribed at Points a, b, c, d, dd, e and t Clause 7 Article 3 of this Decree.

2. Directors of provincial-level Market Surveillance Departments, the Director of the Market Surveillance Operation Department under the Vietnam Directorate of Market Surveillance may:

a) Impose a fine of up to VND 50,000,000;

b) Apply the remedial measures prescribed at Points a, b, c, d, dd, e and t Clause 7 Article 3 of this Decree.

3. Heads of market surveillance teams and heads of professional divisions of the Market Surveillance Professional Department may:

a) Impose a fine of up to VND 25,000,000;

b) Apply the remedial measures prescribed at Points a, b, c, d, dd, e and t Clause 7 Article 3 of this Decree.

Article 30. Competence of the Public Security Force to sanction administrative violations

1. The Director of the Internal Political Security Department, Director of the Economic Security Department, Director of the Police Department for Administrative Management of Social Order, Director of Police Department for Investigation of Social Order-Related Crimes, Director of the Police Department for Investigation of Corruption, Economic and Smuggling Crimes, Director of the Police Department for Drug-Related Crimes, Director of the Traffic Police Department, Director of the Fire Prevention and Fighting, Salvage and Rescue Police Department, Director of the Environmental Crime Prevention and Combat Police Department, Director of the Cyber Security and Hi-Tech Crime Prevention and Combat Department, Director of the Internal Security Department, Director of the Police Department for Custody, Temporary Detention and of Criminal Judgment Execution in the Community, and Commander of the Mobile Police Department may:

a) Impose a fine of up to VND 150,000,000;

b) Apply the additional sanction defined at Point b Clause 1 Article 3 and remedial measures specified in Clause 7 Article 3 of this Decree.

2. Directors of provincial-level Police Departments may:

a) Impose a fine of up to VND 75,000,000;

b) Apply the additional sanction defined at Point b Clause 1 Article 3 and remedial measures specified in Clause 7 Article 3 of this Decree.

3. Chiefs of district-level police offices; heads of professional divisions of the Internal Political Security Department; heads of the professional divisions of the Police Department for Administrative Management of Social Order; heads of the professional divisions of the Traffic Police Department; heads of the professional divisions of the Fire Prevention and Fighting, Salvage and Rescue Police Department; heads of the professional divisions of the Department for Cyber Security and Hi-Tech Crime Prevention and Combat; heads of the professional divisions of the Immigration Department; and heads of divisions of provincial-level of Departments of Public Security, including heads of the Internal Political Security Divisions, heads of Police Divisions for Administrative Management of Social Order, heads of Police Divisions for Investigation of Social Order-Related Crimes, heads of Police Divisions for Investigation of Corruption, Economic and Smuggling Crimes, heads of Police Divisions for Investigation of Drug-Related Crimes, heads of Police Divisions for Execution of Criminal Judgments and Judicial Support, heads of Police Divisions for Environmental Crime Prevention and Combat, heads of Cyber Security and Hi-Tech Crime Prevention and Combat Divisions, heads of Immigration Divisions, heads of Economic Security Divisions, heads of External Security Divisions, heads of Mobile Police Regiments, and heads of marine battalions may:

a) Impose a fine of up to VND 25,000,000;

b) Apply the additional sanction defined at Point b Clause 1 Article 3 and remedial measures specified in Clause 7 Article 3 of this Decree.

4. Chiefs of commune-level police offices, chiefs of police stations and chiefs of police offices of border gates or export processing zones, heads of border-gate police offices of international airports, heads of mobile police battalions, and heads of marine squads may:

a) Impose a fine of up to VND 2,500,000;

b) Apply the remedial measures prescribed in Clause 7 Article 3 of this Decree.

Chapter V

IMPLEMENTATION PROVISIONS

Article 31. Effect

This Decree takes effect on July 12, 2024 and replaces regulations on sanctioning of administrative violations in the field of price defined in Chapter II of the Decree No. 109/2013/ND-CP dated September 24, 2013 of the Government prescribing the sanctioning of administrative violations in the fields of price, charges, fees and invoices; Article 1 of Decree No. 49/2016/ND-CP dated May 27, 2016 of the Government amending and supplementing a number of articles of Decree No. 109/2013/ND-CP dated September 24, 2013 of the Government prescribing the sanctioning of administrative violations in the fields of price, charges, fees and invoices.

Article 32. Transitional provisions

For acts of administrative violation on environmental protection that occurred and terminated before the date on which this Decree takes effect but are detected or considered for issuing the decision on sanctioning when this Decree has taken effect, the Decree No. 109/2013/ND-CP dated September 24, 2013 of the Government prescribing the sanctioning of administrative violations in the fields of price, charges, fees and invoices; Decree No. 49/2016/ND-CP dated May 27, 2016 of the Government amending and supplementing a number of articles of Decree No. 109/2013/ND-CP dated September 24, 2013 of the Government prescribing the sanctioning of administrative violations in the fields of price, charges, fees and invoices shall continue to apply, except for cases where this Decree does not prescribe the liability or imposes lighter liability for the acts of administrative violation.

Article 33. Organization of implementation

Ministers, Heads of ministerial-level agencies, Heads of government-attached agencies and Chairpersons of People’s Committees of provinces and central affiliated cities and related organizations, individuals shall take responsibilities for the implementation of this Decree.