On June 13th, 2019, the Government issued Decree No.51/2019/ND-CP stipulating administrative fines or violations in science and technology activities and technology transfer. Accordingly, the content of the Decree has some notable points regarding technology transfer activities as follows:
Being imposed the fine ranging from 1,000,000 dong to 2,000,000 dong if failing to send the previous year’s report on implementation of the contract for transfer of the technology already obtaining the technology transfer license to competent regulatory authorities;
Being imposed the fine ranging from 12,000,000 dong to 20,000,000 dong for the failure to make written contracts upon making independent technology transfer or capital contribution made by using technology.
Being imposed the fine ranging from 30,000,000 dong to 40,000,000 dong for one of the following violations:
+ Failing to make a pricingaudit in the form of appraisal of the transferred technology when transferring it between related parties upon the request of the tax authority;
+ Making the outbound transfer of technologies from foreign countries to Vietnam without obtaining the certificate of registration of technology transfer;
This Decree takes effect from August 1st, 2019, replacing the Government’s Decree No.64/2013/ ND-CP of July 26th, 2013 and other documents prescribing administrative fines for violations arsing from scientific and technological activities and technology transfer.
