Businesses face fines for listing prices in foreign currencies

Businesses found listing the prices of goods and services in foreign currencies or who accept foreign-currency payments without state permission, could be fined up to VND30 million (US$1,700).

The new guidelines, issued by the Ministry of Industry and Trade, will be implemented beginning July 4.

The fines will also apply to businesses and individuals who do not list prices at all, or list them incorrectly or in an unclear manner.

The circular also said organizations and individuals must list the correct prices for goods and services according to state-determined prices.

If traders are found committing violations several times, they could face having their business licenses revoked for a minimum of one year.

The circular also clarifies regulations for penalizing businesses and individuals for the speculation of goods, overpricing, circulating false information, smuggling, and trade fraud.

Nhu Nguyen

thanhnien

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