Persons on exit to face fines up to VND 50 million for undeclared cash, gold items

From July 1, Vietnam will impose heavy customs fines under a new government decree, on travelers who fail to declare or inaccurately declare cash, gold, precious metals or gemstones upon entry or exit.

From July 1, individuals who fail to declare or incorrectly declare the amount of cash or gold they carry when entering or exiting Vietnam will face fines of up to VND 50 million.

Article 11 of Government Decree 169 dated May 15, on sanctioning of customs-related administrative violations stipulates that persons on exit who fail to declare or incorrectly declare the amount of cash in permissible foreign currencies or Vietnam dong or gold exceeding the law-specified limit will be fined between VND 1 million and VND 50 million. Fines will be imposed for confiscated items that are valued at between VND 5 million and VND 100 million and on violators who do not subject to penal liability examination.

Those entering the country will face a fine of up to VND 20 million for failing to declare or inaccurately declare cash in Vietnam dong or foreign currencies or gold that exceeds the aforesaid limit. Those who over-declare the amount of cash, gold or foreign currencies they carry will also be fined. This fine tops out at VND 25 million if the discrepancy between the declared value and actual value is VND 100 million or more. Furthermore, those entering or exiting the country with valid travel documents who fail to declare or inaccurately declare foreign-currency amounts will face fines of between VND 5 million and VND 50 million, depending on the value of undeclared amounts/items.

Sanctions for failing to declare or inaccurately declaring precious metals, gemstones or negotiable instruments subject to customs declaration upon entry or exit are all fiercer, ranging from VND 1 million to VND 50 million, scaled to the value of undeclared items.

- (VLLF)