Vietnam: Enterprise selling goods or providing services below their costs shall be fined up to VND 1 billion

10:35, 28/09/2019

This is one of the notable contents of Decree No. 75/2019/ND-CP of Vietnam’s Government providing for penalties for administrative violations against regulations on competition, issued on September 26, 2019.

Specifically, according to Decree No. 75/2019/ND-CP of Vietnam’s Government, a fine ranging from VND 800,000,000 to VND 1,000,000,000 shall be imposed for selling goods or providing services below their costs and thus driving or potentially driving other enterprises selling or providing the same type of goods or services out of the market.

A fine twice as much as the fine for the administrative violation prescribed above shall be imposed if this violation involves two provinces or central-affiliated cities or more.

Moreover, a fine ranging from VND 100,000,000 to VND 200,000,000 shall be imposed for trade libel by indirectly spreading false information about an enterprise with the aim of causing harm to the prestige, financial status or business operations of that enterprise.

View more details at Decree No. 75/2019/ND-CP of Vietnam’s Government, effective from December 01, 2019.

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