UNFAIR COMPETITION ACTS TO BE FINED 02 BILLION VND
NEW ENTERPRISE REGISTRATION FEE RATES APPLIED FROM 20/9/2019 ONWARDS
09/10/2019
BUSINESS ENTITIES MAY BORROW UP TO 02 BILLION VND/PROJECT FROM THE NATIONAL EMPLOYMENT FUND FROM NOVEMBER 08, 2019 ONWARDS
09/10/2019UNFAIR COMPETITION ACTS TO BE FINED 02 BILLION VND
Under Decree No. 75/2019/NĐ-CP issued by the Government on September 26, 2019 and coming into effect on December 01, 2019:
– The maximum fineable amount for violations of regulations on unfair competition practices is 02 billion VND.
– The maximum fineable amount for anti-competitive agreements, abuse of a dominant position on the market and abuse of monopoly power is 10% of the total turnover of the violating enterprises.
– The maximum fineable amount for economic concentration activities is 05% of the total turnover of violating enterprises in relevant markets during the fiscal year.
– The specific fine for a violation in the competition field is the average amount of the prescribed fine bracket for such violation:
- Where mitigating circumstances exist, the fine can be reduced but it must not be lower than the minimum amount in the fine bracket;
- Where aggravating circumstances exist, the fine can be increased but it must not be higher than the maximum amount in the fine bracket;
- Mitigating, aggravating circumstances will change the fineable amount correspondingly but not exceeding 15% of the average amount of the fine bracket.
Best regards,
