This Decree prescribes that enterprises that do not prepare all required financial statements will be liable for 10-20 million dong in fines.
Additionally, the range of the fine for violations arising from preparation and presentation of financial statements will be subject to the following specific changes:
- If financial statements are not prepared in accordance with regulations, the fine will range from 20 to 30 million dong (compared with the fine ranging from 10 to 20 million dong as prescribed in current applications).
- If information and data provided in financial statements are not correct, the fine will range from 20 to 30 million dong (compared with the fine ranging from 40 to 30 million dong as prescribed in current applications).
- If financial statements are fake and data included in financial statements are willfully misrepresented, the fine will range from 40 to 50 million dong (compared with the fine ranging of up to 60 million dong as prescribed in current applications).
For more details, please read the Decree No. 41/2018/ND-CP (coming into effect on May 1, 2018).
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