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Business suspension period is an issue that businesses need to understand clearly to avoid violating the law. Understanding current regulations on business suspension periods will help businesses easily plan for re-operation or dissolution when necessary and avoid financial risks. Next, let’s join Long Phan to learn in detail about the business suspension.
Pursuant to Clauses 1 and 2, Article 206 of the Law on Enterprise 2020, temporarily suspend business in the following cases:
Pursuant to Clause 1, Article 66 of Decree 01/2021/ND-CP, the business suspension period of each notification must not exceed 01 years.
According to Clause 3, Article 4 of Circular 302/2016/TT-BTC (amended in Circular 65/2020/TT-BTC), Enterprises temporarily suspending business operations do not have to pay business license fees for the year of temporary suspension of business operations under the following conditions:
Thus, when an enterprise announces a temporary suspension of business for the entire calendar year and meets the above two conditions, it will not pay the license fee for the year of temporary suspension. If you leave for less than 1 year (from January 1 to December 31), you still have to pay the license fee for the whole year.
According to the provisions of Point c, Clause 1, Article 50 of Decree 122/2021/ND-CP, when an enterprise temporarily suspends business without timely notification to the business registration agency, it will be fined from 10,000,000 VND to 15,000,000 VND.
Remedy: Force notice of business suspension time.
In addition, based on Point c, Clause 1, Article 212 of the Law on Enterprises 2020, if an enterprise temporarily suspends business operations for 1 year without notifying the business registration agency and tax agency, the Registration Certificate The enterprise’s business will be revoked.
Coming to Long Phan, you will be supported in taking steps to quickly suspend business, ensuring all procedures are completed in accordance with the law. Below are the related services we provide:
Mastering the procedures and processes for notifying temporary suspension of business operations is extremely important to avoid unwanted risks. With a team of experienced experts, Long Phan will help you resolve all procedures quickly and effectively. Please contact us immediately via the hotline: 0906735386 for advice and dedicated support.
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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