Penalties for violations against regulations on accounting inspection

1. A fine ranging from VND 3.000.000 to VND 5.000.000 shall be imposed for one of the following violations:

a) Failure to provide sufficient relevant documents to the inspectorate;

b) Failure to fully comply with the conclusion given by the inspectorate.

2. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed in one of the following cases:

a) Failure to implement the competent authorities’ decision on accounting inspection;

b) Failure to provide relevant documents to the inspectorate;

c) Failure to translate accounting documents and records to Vietnamese upon the competent authorities’ request;

b) Failure to comply with the conclusion given by the inspectorates.

Article 15. Penalties for violations against regulations on retention of accounting documents

1. A warning shall be imposed for one of the following violations:

a) Archiving accounting documents 12 months after the specified deadline or later;

b) Failure to arrange the archived accounting documents by fiscal year in chronological order.

2. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed for one of the following violations:

a) Failure to retain accounting documents in full;

b) Damage or loss of accounting documents during the retention period;

c) Using accounting documents against regulations during the retention period;

d) Failure to inventory and sort accounting documents or to restore lost or damaged ones.

3. A fine ranging from VND 10.000.000 to VND 20.000.000 shall be imposed for one of the following violations:

a) Destroying accounting documents before the end of the retention period specified in the Law on Accounting but not serious enough for criminal prosecution;

b) Failure to establish a destruction council, to apply the destruction methods correctly and to make a destruction report while destroying accounting documents.

Article 16. Penalties for violations against regulations on stocktaking

1. A fine ranging from VND 1.000.000 to VND 2.000.000 shall be imposed for one of the following violations:

a) Failure to make stocktaking reports or the stocktaking report not having sufficient signatures;

b) Failure to report discrepancies between actual and book figures and their handling.

2. A fine ranging from VND 3.000.000 to VND 5.000.000 shall be imposed for failure to carry out stocktaking.