15/10/2021 0 Comments 0

Fee payers and collecting agencies

Fee payers and collecting agencies   1. Upon submission of request for replacement, amendment, supplements or extension for Certificate of multi-level marketing activities (hereinafter referred to as the Certificate), multi-level marketing enterprises must pay fees for appraisal; And upon grant of replacement, amendment, supplements or extension of the Certificate, such enterprises shall pay charges as regulated hereof. 2. Vietnam Competition Authority (the Ministry of Trade and Industry) shall be responsible for collecting, managing and using fees for appraisal for replacement, amendment, supplements [...]

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12/10/2021 0 Comments 0

Process of the facility establishment

Process of the facility establishment   1. The enterprise shall submit their application for establishment of the facility to the Customs Department of a province/city where the facility is located as stipulated in Article 13 hereof. 2. The decision on establishment of the facility must be granted as follows: a) The Customs Department of a city or province where the facility is established shall receive the documentation submitted by the enterprise; b) Within a permitted period of 10 working days of receipt of all [...]

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08/10/2021 0 Comments 0

Customs documentation

Customs documentation   1. Customs documentation submitted to export postal items shall include: a) Electronic export customs declaration including information inputs stipulated by the Appendix II issued together with the Circular No. 38/2015/TT-BTC of the Ministry of Finance dated March 25, 2015; If the paper-based customs declaration is submitted in accordance with regulations laid down in Clause 2 Article 25 of the Decree No. 08/2015/NĐ-CP dated January 21, 2015, the customs declarant must prepare and submit 02 original copies of export customs declaration [...]

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05/10/2021 0 Comments 0

Actions against administrative violations

Actions against administrative violations   1. Imported goods in the following cases are considered smuggled goods: a) Goods in transit; goods being displayed for sale; goods stored at warehouses, depots, gathering points that the trader fails to present invoices and/or documents proving their legitimacy as prescribed in Article 3 of this Circular; b) Imported goods being sold on the market with invoices and/or documents that are concluded illegal or illegally used by competent authorities through investigation. Illegal invoices and illegally used invoices are [...]

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01/10/2021 0 Comments 0

Scope

Scope   This Circular deals with invoices and documents of imported goods being sold on the market, including: goods in transit; goods displayed for sale; goods in warehouses, depots, manufacturing/trading facilities or other locations (hereinafter referred to as imported goods being sold on the market); guidance on actions against violations against regulations on invoices and documents of imported goods being sold on the market; rights and obligations of relevant organizations and individuals. Article 2. Regulated entities 1. Organizations and individuals that directly import, [...]

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28/09/2021 0 Comments 0

Power to record administrative violations regulated by this Decree

Power to record administrative violations regulated by this Decree   Those with the power to record administrative violations regulated by this Decree are: 1. Those with the power to impose penalties for administrative violations regulated by this Decree, as specified in Articles 70 and 71 of this Decree. 2. Officials, public employees, officers of the People’s Public Security or the People’s Army who are on duty as specified by legislative documents or administrative documents promulgated by competent authorities have the right to record [...]

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24/09/2021 0 Comments 0

Penalties for violations against regulations on independence

Penalties for violations against regulations on independence   1. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed for taking up positions of management, administration, inspection committee member or chief accountant of a unit with public interest less than 12 months after completing the last audit for that unit. 2. A fine ranging from VND 10.000.000 to VND 20.000.000 shall be imposed for carrying out auditing works for a unit with public interest for more than 4 consecutive fiscal [...]

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21/09/2021 0 Comments 0

Penalties for violations against regulations on audit documents

Penalties for violations against regulations on audit documents   1. A fine ranging from VND 20.000.000 to VND 30.000.000 shall be imposed for failure to document an audit. 2. Additional penalties: a) The audit practitioner committing the violation mentioned in Clause 1 of this Article shall have his/her certificate of audit practice registration suspended for 3-6 months from the day the decision on penalty imposition comes into effect; The auditing firm committing the violation mentioned in Clause 1 of this Article shall have its [...]

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17/09/2021 0 Comments 0

Penalties for violations against regulations on audit statements

Penalties for violations against regulations on audit statements   1. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed on the auditor that commit one of the following violations: a) Signing audit statements ultra vires; b) Signing audit statements before the financial statements’ audit dates. 2. A fine ranging from VND 10.000.000 to VND 20.000.000 shall be imposed on the auditor that commit one of the following violations: a) Signing audit statements despite the fact that he/she is not an audit practitioner; b) [...]

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14/09/2021 0 Comments 0

Penalties for violations against regulations on audit approvals

Penalties for violations against regulations on audit approvals   1. A fine ranging from VND 10.000.000 to VND 20.000.000 shall be imposed for one of the following violations: a) Carrying out auditing works without independence, sufficient professional skills and meeting requirements in accordance with regulations of law; b) Carrying out auditing works when the client and audited unit have requirements that violate the code of ethics, professional requirements or regulations of law. 2. Remedial Measure: Return illegal profits earned by violations mentioned in Clause 1 [...]

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