Within 3 days, fdiinvietnam.com will complete the temporary suspension of business procedures for enterprises in general or the temporary suspension of operations of joint stock companies/LLCs in particular. Contact fdiinvietnam.com now to complete the temporary suspension of business procedures soon.
Temporary suspension of business operations at Online Accounting
- Total cost of temporary business suspension service package: Only 700,000 VND .
- Maximum 3 – 4 working days for fdiinvietnam.com to complete the business suspension procedure, details:
- 3 days – Business Registration Office processes documents;
- From 1 day – fdiinvietnam.com prepares all documents, presents them to the customer for signature, submits documents to the Department of Planning and Investment, receives and delivers results on-site.
Note: fdiinvietnam.com supports free delivery of documents and results to your location during the entire procedure.
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Documents required when using the temporary business suspension service at fdiinvietnam.com
Depending on the type of business, the components of the temporary suspension of business dossier will be different. Using the temporary suspension of business service at fdiinvietnam.com is the optimal choice to simplify all procedures. At that time, the information you need to provide only includes:
- Business tax code;
- Temporary suspension of business.
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In case you carry out the procedure for temporarily suspending the company’s operations yourself, you can refer to detailed instructions on the implementation process, required documents, and download free sample documents in the article: Procedures for temporarily suspending business operations.
New regulations on business suspension period
For some reason, if a business has to register to temporarily suspend business, it needs to clearly understand the following general regulations:
- At least 3 working days before the date of temporary suspension or resumption of business before the announced deadline, the enterprise must send a written notice to the business registration authority about the time and duration of temporary suspension/resumption of business;
- The period of temporary suspension of business of an enterprise for each notification procedure shall not exceed 1 year;
- In case there is a need to continue to suspend business operations after the notified period has expired, no later than 3 working days (from the date of continued suspension of business operations), the enterprise must notify the business registration authority of the continued suspension period;
- Enterprises are not limited in the number of times they can suspend business operations, but must ensure that they carry out the procedures for registering the temporary suspension of company operations in accordance with current legal regulations.
>> See more: Regulations on temporary suspension of business.
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Because of the regulation that the company must submit a notice of temporary suspension of business 3 days in advance, to avoid complicated procedures, prolonged completion time, affecting the date the business wants to stop operating, you can consider consulting the temporary suspension of business service at fdiinvietnam.com.
Notes when carrying out procedures to temporarily suspend business operations for enterprises
1. Exemption from business license fees
Pursuant to Decree 22/2020/ND-CP, enterprises are exempted from business license fees for the year of temporary suspension of operations if:
- The enterprise has notified the direct tax authority of its temporary suspension of business operations during the calendar year before January 30 (the deadline for paying business license tax according to regulations);
- Enterprises have not paid business license tax for the year of temporary suspension of business operations.
>> You may be interested in: Cases exempted from business license fees.
2. Obligation to submit tax declarations and financial reports
Enterprises do not need to submit tax declarations or financial reports during the period of temporary suspension of business (except in cases where the suspension does not last a full month, quarter, calendar year or fiscal year).
>> See more: How to submit tax returns online.
For example:
Enterprises shall make quarterly declarations and request to temporarily suspend business operations from January 3, 2024 to December 31, 2024 (ie, temporarily suspending business operations for less than a full calendar year). Accordingly, even if they only operate for 2 days (January 1 and January 2), enterprises must still:
- Submit tax declaration for the first quarter of 2024;
- Submit personal income tax and corporate income tax finalization dossiers for 2024;
- Submit financial report 2024.
3. Other notes when temporarily suspending business
In addition to important notes on reporting and taxes, businesses must also ensure compliance with the following regulations:
- Still have to hang company sign;
- Complete payment of debts to tax authorities during the period of temporary suspension of business;
- Not allowed to sign contracts or conduct new transactions during the period of temporary suspension of business;
- Pay debts and other financial obligations to customers, partners and employees (unless otherwise agreed).
After the period of temporary suspension of business, if the enterprise decides to dissolve, it must carry out the company dissolution procedures in accordance with legal regulations.
See details:
>> Company dissolution procedures;
>> Should we suspend business or dissolve the enterprise?
Frequently asked questions when a business temporarily ceases operations
1. How much is the service fee for temporary suspension of business operations at Online Accounting?
The total cost that the business needs to pay is only 700,000 VND. Online Accounting commits to completing the temporary business suspension procedure quickly (from 3 to 4 working days) so as not to affect tax-related issues.
Call fdiinvietnam.com now at 0978 578 866 (North) – 033 9962 333 (Central) – 033 9962 333 (South) for support.
2. How long can a business temporarily suspend operations?
Enterprises are currently allowed to suspend operations for a period of no more than 1 year for each time of notification of suspension. The number of times of suspension of business is not limited, however, enterprises must ensure that they carry out the suspension registration procedure in accordance with regulations.
>> See more: Procedures for temporarily suspending company operations.
3. Does a business that temporarily suspends operations have to pay business license tax?
Enterprises temporarily suspending business are exempt from business license tax during the suspension period if:
- Notified the direct tax authority of temporary suspension of business during the calendar year before January 30 (the deadline for paying business license tax according to regulations);
- Not paid business license tax for the year of temporary suspension of business operations.
4. Can a business with tax debt temporarily suspend business?
Enterprises with tax debts can still apply for temporary suspension of business, but must ensure full payment of outstanding taxes during the period of temporary suspension of business.
5. What are the conditions for temporary suspension of business?
During the period of temporary suspension of business, the enterprise must still pay debts and unfinished contracts with customers, partners and employees (if there is no other agreement). At the same time, the enterprise must complete the tax payable and other financial obligations.
6. Should a business suspend operations or dissolve?
Depending on the actual business situation, development orientation, and financial capacity of each enterprise, a decision can be made on the appropriate operating plan. You can refer to detailed consulting information on this issue in the article: Should we temporarily suspend business or dissolve the company?
Call us at 0978 578 866 (North) – 033 9962 333 (Central) – 033 9962 333 (South) for support.