The Vietnam government has announced the issuance of Decree No. 125/2020/ND-CP, which provides for higher penalties for tax administration violations ranging from VND 500,000 to VND 25 million. Specific fines/penalties are as follows:
- Failing to meet deadlines for tax registration or for notifying cessation of business - fines of VND 1 million to VND 10 million;
- Failing to meet deadlines for notifying changes in tax registration - fines of VND 500,000 to VND 7 million;
- Incorrect or incomple…