How is illegal speculation punished?

Article 31 of Decree 98/2020, as amended and supplemented in Decree 17/2022, on administrative sanctions for acts of commodity speculation is specified as follows:

- A fine of between VND 5 - 10 million shall be imposed for speculating on goods in one of the following cases with a value of between VND 50 and under 100 million in order to resell for illicit profits:

+ Goods on the list of price stabilization or the list of prices by the State;

+ When the market has fluctuations in supply and demand, commodity prices due to natural disasters, fires, epidemics, wars or other unusual developments.

- A fine of between VND 10 and 20 million shall be imposed for goods speculation on valued at between VND 100 and under VND 200 million.

- A fine of between VND 20 and 50 million shall be imposed for goods speculation valued between VND 200 and under 500 million.

- A fine of between VND 50 million and VND 80 million shall be imposed for goods speculation valued at between VND 500 million and under VND 1 billion.

- A fine ranging from VND 80-100 million shall be imposed for goods speculation valued at VND 01 billion or more.

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On the other hand, individuals and organizations that commit this act may also be subject to additional penalties and remedial measures as follows:

- Confiscate material evidences for violations specified in this Article;

- Deprive the right to use the Certificate of eligibility for business, business license, practice certificate or suspend the business of infringing goods for 6-12 months;

- Confiscate illegal profits obtained from committing violations.