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MEKONG COUNSEL

Circular guiding on several regulations on administrative sanction in price domain

On May 18th, 2012, the Ministry of Finance issued Circular No. 78/2012/TT-BTC guiding a number of articles of Decree No. 84/2011/ND-CP dated September 20th, 2011 of the Government on administrative sanction in price domain. Accordingly, some administrative violation acts in price domain (including administrative violation acts in price evaluation), authority for sanctioning administrative violation acts in price domain shall be guided as follows:

 

- Violation acts of price regulations shall include: acts violating regulations on price valorization; acts of wrongly applying the prices decided by competent agencies; acts of violating regulations on formulation of price scheme for goods, services; acts of violating regulations on conditional businesses as regulated; acts of violating regulations on price registration and declaration of goods, services; acts of violating regulations on price posting for goods, services; acts of excessive price hiking; acts of announcing false informationabout the market, prices of goods and services; administrative violation in price evaluation by appraisal company, administrative violation by price evaluator, organizations, individuals using the state budget to buy assets subject to price evaluation as regulated, administrative violation by organizations having a function to train, retrain for price evaluation.

 

For each violation act, the competent agencies shall apply a suitable level of sanctioning: monetary fine, additional sanctionings and remedial measures.

 

- Authority for sanctioning administrative violations in price domain shall comply with the provisions of Decree No. 84/2011/ND-CP. In case the fine, additional sanctioning, or remedial measure is not under the authority for sanctioning, the handling agency shall transfer such a case to the competent agency in a timely manner.

 

This Circular shall be effective from July 5th, 2012, annul Circular No. 110/2004/TT-BTC dated November 18th, 2004 of the Ministry of Finance.

 

Remarks: File attached.