In just 3 working days, LawFirm.Vn will complete the procedures for applying for the temporary suspension of business for businesses in general or the temporary suspension of business files for joint-stock companies/limited liability companies in particular. Contact LawFirm.Vn now to expedite the process of suspending business.
1. Regulations on the duration of temporary business suspension
To temporarily suspend business operations, businesses need to be aware of the regulations regarding business suspension according to the Enterprise Law 2020 and Decree 01/2021/ND-CP, specifically:
– Businesses must notify the Business Registration Office in writing no later than 3 working days before the date of suspension.
– The duration of each suspension notification should not exceed one year.
Because the regulation requires submitting a notice of business suspension at least 3 working days in advance, to avoid complicated procedures and extended processing time that may affect the desired date of business cessation, please consider using the services at LawFirm.Vn.
2. Total package cost for temporary business suspension services
The total package cost for temporary business suspension services is 400,000 VND.
LawFirm.Vn requires a maximum of 3-4 working days to complete the procedures for temporary business suspension, as follows:
– 3 working days: Processing the file at the Business Registration Office.
– 1 day: LawFirm.Vn prepares the entire file, presents it to the client for signing, submits the file to the Department of Planning and Investment, and receives and delivers the results on-site.
Note: Free support for file delivery and result handover throughout the process.
3. Customer-provided documents when using temporary business suspension services at LawFirm.Vn
Depending on the type of business entity, the components of the business suspension file may vary. Using the temporary business suspension service at LawFirm.Vn is an optimal choice to simplify all procedures. In that case, the information you need to provide includes:
– Company’s tax code.
– Duration of suspension.
4. Other considerations when undergoing the temporary business suspension procedures
4.1. Exemption from business license fee
If the business temporarily suspends operations for an entire calendar year or fiscal year;
Example: If the business suspends operations for the entire year 2024 – from January 1, 2024 – the business will be exempt from business license fees if the application is submitted at least 3 working days in advance, counting from the date of suspension.
4.2. Tax declaration
During the period of temporary business suspension, businesses are not required to submit tax declarations.
However, businesses must still submit tax declarations for the previous quarter before the temporary suspension, which will be accepted by the Business Registration Office.
4.3. Financial reporting
Businesses must still submit annual financial reports if the suspension period is less than an entire calendar year or fiscal year.
4.4. Other considerations
In addition to important notes regarding reporting and taxes, businesses must also ensure compliance with the following regulations:
– Displaying signage.
– Settling debts with tax authorities during the temporary suspension period.
– Not entering into new contracts or conducting new transactions during the temporary business suspension period.
– Settling debts and other property obligations with customers, partners, and employees (unless otherwise agreed upon).
LawFirm.Vn
