On July 12, 2024, the Government issued Decree 87/2024/ND-CP regulating administrative penalties in price management, including fines for selling goods above the maximum state price range.
- Penalties for selling goods above the maximum price set by the State:
The decree specifies fines for violations regarding pricing and selling goods and services not in accordance with state regulations:
Fines from 10 to 20 million VND for any of the following acts:
- Selling goods or services at prices not set by the State.
- Selling above the maximum price set by the State.
- Selling below the minimum price set by the State.
- Selling above the maximum price set by the State.
- Selling below the minimum price set by the State.
Additionally, the corrective measure requires returning the full price difference to customers for overcharging in cases (1), (2), and (4). Moreover, businesses must publicly announce the corrective measures on mass media within 30 days. If customers cannot be identified or refuse the refund, the total price difference must be paid to the state budget.
Note: The above fines apply to individuals. If an organization commits similar violations, the fine is double the amount for individuals.
- List of goods and services priced by the State:
Currently, the list of goods and services priced by the State is specified in Appendix No. 02 attached to the Price Law 2023. Examples of state-priced goods and services include:
+ Electricity (retail, wholesale); various electricity services as per the Electricity Law, including power generation, transmission, ancillary services, grid operation, market operation, and distribution services.
+ Road usage services for road construction investment projects (excluding expressways) managed by central authorities.
+ Clean water.
+ Medical examination and treatment services within the State pricing scope as per medical laws, etc.
This decree takes effect from July 12, 2024.
