Your business is experiencing operational difficulties and wants to suspension of business but no time to process. We – NAVI, with many years of experience, committed to providing business suspension services for limited liability companies or business suspension services for joint stock companies of other types, with accuracy, prestige, dedication and the cheapest price in Ho Chi Minh City and neighboring provinces.
Regulations on the suspension of business of companies and enterprises
Regulations on the suspension of business for companies and enterprises are usually determined by law and competent regulatory agencies. Here are some key points related to this regulation.
According to the provisions of Article 67 of Decree 01/2021/ND-CP on suspension of business at the request of competent state agencies:
– When the Business Registration Office receives a notice from a competent state agency that the enterprise does not meet the business conditions of a conditional investment line or a conditional market access line for foreign investors:
The Business Registration Office will issue a notice requesting the enterprise to suspend or terminate business in the above-mentioned fields. If the enterprise fails to comply, the Business Registration Office will request the enterprise to report as prescribed at Point c of Clause 1, Article 216 of the Law on Enterprises.
– Within 03 working days from the date the Business Registration Office receives a notice from a competent state agency of the enterprise being requested to suspend its business, suspend its operation or terminate its business, or when it has implemented penalties or judicial measures in accordance with the law:
The Business Registration Office will update the information in the National Database of Business Registration and publish it on the National Business Registration Portal.
Details of the business suspension service
Our complete package of services to suspend business at NAVI not only brings convenience but also maximum cost savings for your business. For 700,000 VND, you will have a comprehensive service package, including state fees and NAVI’s service fees.
Not only do we make it quick and efficient to suspend your business, but we also make sure every step of the way goes smoothly. Our fee also includes the cost of consulting, preparing documents, submitting to the business to sign at the place, and replacing the business to submit documents and receive results directly at the Department of Finance.
With NAVI, we are committed to providing a comprehensive and cost-effective solution for your business during the suspension of your business. Contact us for professionalism and convenience today.
Total cost of business suspension services
A business suspension service is a solution provided so that a business can suspend all its business activities while maintaining its legal status and not having to cease its legal existence. Here are some details about this service.
► The service fee to suspend the company in NAVI is 700,000 VND
| COMPANY BUSINESS SUSPENSION SERVICE IN NAVI PACKAGE – 700,000 VND | |
| NAVI Business Suspension Service Fee | |
| Fees for consulting, preparing dossiers, submitting on-site and representing enterprises to submit dossiers as well as receive results at the Department of Finance | 300,000 VND |
| Suspension fee paid to the State | |
| The fee for disclosing information about the business suspension status of the enterprise on the National Business Registration Portal. | 100,000VND |
| Notary fee authorizing NAVI to carry out procedures | 300,000 VND |
Time to complete the service to terminate the prestigious business location-cheap price.
The completion time of the company’s suspension service depends on many factors such as the reason for the suspension, legal regulations, documents, and debt agreement. However, when using the company – enterprise business suspension service in NAVI, you can significantly shorten the time.
Time for completion of business suspension services for limited liability companies and other types
► Up to 3 – 4 working days is the time that NAVI needs to complete the business suspension process, details are as follows:
– In 3 days, the Business Registration Office will process the dossier;
– Then, in 1 day, NAVI will prepare the entire dossier, submit it to the customer for signing, submit the dossier at the Department of Finance, and receive and hand over the results to the customer.
Note: We support the handover of dossiers and free door-to-door results throughout the procedure.
Documents to be provided when using the business suspension service at NAVI
Depending on the type of business, the composition of the business suspension application will be different. The use of business suspension services in NAVI is the optimal choice to simplify every procedure. In this case, the information you need to provide only includes:
– Tax Identification Number
– The time that customers want to suspend business
NAVI’s mission when providing services to suspend company operations
Receive information and provide comprehensive advice on legal issues related to the company’s suspension process, including:
► Legal advice and procedures: Guide businesses on legal provisions related to business suspension, including deadlines, procedures and obligations to be performed.
► Preparation of dossiers: Drafting and completing necessary dossiers according to the provisions of Article 66 of Decree 01/2021/ND-CP, including:
+ Notice of business suspension.
+ Decisions and minutes of meetings of the Members’ Council or the Board of Management (depending on the type of enterprise).
+ Business registration certificate.
► Submit documents and track results: On behalf of the enterprise, submit documents at the Business Registration Office and monitor the processing process, ensure to receive confirmation of business suspension within the prescribed time.
► Tax support: Advise and support businesses in notifying business suspension to tax authorities, ensuring compliance with regulations and avoiding unnecessary tax obligations during the suspension period.
► Advice on continuing operations: When the business wants to operate again, NAVI supports the implementation of business continuation notification procedures with the business registration agency and tax office.
The use of the services of NAVI help businesses save time, ensure compliance with legal regulations and avoid legal risks during the suspension of operations.
Procedures for notice of business suspension
The business suspension process requires a series of stages, in accordance with the provisions of Decree 01/2021/ND-CP. Thereby, ensuring that this process takes place in accordance with the law. The company’s business suspension process consists of 5 main steps:
► Step 1: Prepare business suspension dossiers. At this step, the enterprise prepares the business suspension dossier in accordance with the provisions of the 2020 Enterprise Law and Decree 01/2021/ND-CP, as detailed in Circular 01/2021/TT-BKHDT.
► Step 2: Submission of business suspension dossiers Enterprises shall submit business suspension dossiers at the provincial/municipal Department of Finance (where the business registration certificate is issued). Applications can be submitted through the National Business Registration Portal at https://dangkykinhdoanh.gov.vn/
► Step 3: To verify and notify the results of suspension of business, the Department of Finance shall verify and notify the results of suspension of business after receiving the dossiers. The time limit for returning the results is 03 working days.
► Step 4: Receive a confirmation from the Department of Finance. If the dossier is valid, the Department of Planning and Investment shall issue a certificate of business suspension, clearly stating the suspension period. Businesses need to pay attention to this time to carry out tax procedures (see step 5).
► Step 5: Implementation of tax procedures after suspension For business suspension dossiers not completed in the quarter/year, enterprises need to submit tax declarations in accordance with the provisions of law. This is an important step to avoid late filing and heavy fines.
Note: This is an important step that many businesses often overlook, resulting in late filing and heavy fines.
Business suspension period
The policy on the duration of business suspension of enterprises and business households has undergone important adjustments since January 4, 2021, according to Article 66, Decree 01/2021/ND-CP. Previously, according to the old regulations, the enterprise was only allowed to suspend its business for a period not exceeding 1 year, and after the expiration of the notified period, the enterprise must continue to notify if it wants to continue the suspension, with a total suspension period not exceeding 02 years.
However, the latest regulation offers more flexibility for businesses. Under the new regulations, the business can not only suspend its business once after the notice period expires, but it can also do this several times in a row, no more than one year at a time. This creates more favorable conditions for businesses to adjust their business strategies, quickly adapt to the market and the constantly changing business environment.
For business households, the new regulation provides that they are suspended from business indefinitely, opening up opportunities for more flexibility and convenience in managing their business activities.
These adjustments not only represent listening to the needs of businesses and business households but also demonstrate the government’s commitment to creating conditions for businesses to thrive, be flexible and sustainable in an increasingly competitive business environment.
Penalty for overdue suspension of company business
When an enterprise suspends its business without notifying or notifying in time to the business registration agency, it will be administratively sanctioned in accordance with the current law.
► Administrative fines
According to Point c, Clause 1, Article 50 of Decree 122/2021/ND-CP, the violating enterprise will be fined from VND 10,000,000 to VND 15,000,000 if it fails to notify or fails to notify the business registration agency of the time and time limit for suspending business or continuing business.
► Remedies
In addition to the fine, the enterprise is also required to make a notice of the time and time of suspension or resumption of business to the business registration agency.
► Regulations on the time limit for suspension of business
+ The enterprise must notify in writing to the business registration agency no later than 03 working days before the date of suspension of business or resumption of business before the notified time limit.
+ The business suspension period of each notice shall not exceed 01 year.
+ Enterprises can suspend business many times in a row, but must make notices in accordance with regulations.
► More serious consequences
If the enterprise stops operating for 01 year without notifying the business registration agency and tax office, the enterprise registration certificate may be revoked as prescribed at Point c, Clause 1, Article 212 of the 2020 Enterprise Law.
Benefits of Temporarily Suspending Business
The suspension of business on time and in accordance with the law brings many practical benefits to businesses, especially in the context of volatile markets or businesses that need time to restructure. Here are the key benefits:
► Reduce financial pressure: Suspension of business helps businesses significantly reduce fixed costs such as:
+ Employee’s salary: Do not have to pay salary during the suspension period.
+ Operating costs: Minimizing the cost of office rental, electricity and water, maintenance, etc.
+ Taxes and financial statements: During the suspension period, enterprises are not required to declare taxes, pay license taxes, financial statements and annual settlement reports, unless tax obligations arise or the suspension is not for the whole month, quarter, calendar year or fiscal year.
► Maintaining legal entity status
Other than dissolution, business suspension allows the business to retain its tax code and legal status. This makes it easy for businesses to return to operation when the market is favorable without implementing new establishment procedures.
► Flexibility in business strategy: The suspension period is an opportunity for businesses to:
+ Re-evaluate business strategy.
+ Organizational and operational restructuring.
+ Resolve outstanding issues.
+ Planning for the resumption, transfer or dissolution of the company.
► Simple and time-saving procedures: Simple and quick business suspension procedures:
+ Enterprises only need to send a notice to the Business Registration Office at least 03 working days before the suspension date.
+ After receiving a valid dossier, the business registration agency will issue a certificate of suspension of operation within 03 working days.
► Avoid legal risks and sanctions: The suspension of business on time and full notice help businesses avoid legal risks such as:
+ Be administratively sanctioned from VND 10,000,000 to VND 15,000,000 if not notified or notified on time.
+ The enterprise registration certificate shall be revoked if the business operation is stopped for 01 year without notifying the business registration agency and tax office.
► Easy transfer or sale of the company: During the suspension period, the business retains its legal status and operating history, which facilitates:
+ Transfer of the company.
+ Sell the company to new partners or investors.
► Maintaining prestige and brand: Suspending business on time and giving full notice helps businesses:
+ Maintain credibility with customers and partners.
+ Avoid negative effects on the brand due to sudden or unclear shutdown.
Note: During the suspension period, the enterprise must still fulfill its financial obligations before the suspension and must report tax periodically if it still owes tax.
Notes on temporary suspension of business procedures
Recent years have marked a series of significant fluctuations in many fields, especially real estate and finance, where many difficulties appear. In this context, if the business has not developed a viable business plan for next year, the decision to suspend operations may be an innovative choice to avoid unnecessary costs and complicated obligations such as filing quarterly tax returns. During the suspension of business, businesses should pay attention to the following issues:
– Notice of business suspension should be made no later than 03 days before the suspension date in accordance with the 2020 Enterprise Law from January 1, 2021. If the enterprise wants to resume business before the time limit announced to suspend, it is also necessary to notify at least 03 days before the date of business resumption. The Law on Enterprises 2014 previously set the notice period to 15 days.
– The Law on Tax Administration 2019 stipulates that business organizations and individuals not subject to business registration must notify at least 01 working day before suspending operations or continuing business. The suspension period shall not exceed 01 year and there is no restriction on the number of consecutive suspensions, according to the guidance of Decree 126/2020/ND-CP.
– Enterprises do not need to submit tax declaration dossiers during the temporary suspension of operation, except in cases where license fees have been paid, they are non-refundable. License fee waiver only applies if the suspension notice is given before January 30, and if the fee has been paid, it is non-refundable. Previously, enterprises were suspended for the whole new year to be exempted from licenses.
– Enterprises only need to notify the business suspension to the business registration agency and do not need to notify the tax authority in accordance with Decree 126/2020/ND-CP. During the suspension period, the legal status and dependent units of the enterprise are also updated. The business may offer to resume business before the notified deadline and may resume operations at any time without restriction.
Thus NAVI has gone through a few points about the business suspension service of NAVI. Hopefully, with the above contents, you can have a deeper view of this type of service to suspend the operation of the company.
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