Business Suspension Service at PDP Tax

1. What is Business Suspension?

Business suspension is a decision made by an enterprise to temporarily cease business operations for a certain period. This is a measure to help businesses cope with financial difficulties, ineffective business strategies, or legal issues.

• According to the Enterprise Law 2020, businesses are allowed to suspend business without losing their legal entity status.
• Business suspension is different from dissolution: during the suspension period, the business can still resume operations without having to register again from scratch. See more details here.

2. Why Do Businesses Need to Suspend Business?

Suspending business not only helps businesses overcome difficulties but also brings many practical benefits.

• Financial Difficulties:

  • In case the business has cash flow problems, business suspension helps reduce operating costs such as staff salaries, premises rent, and other expenses.
  • This is the time for businesses to focus on resolving debts or finding new sources of capital.

• Operational Restructuring:

  • Businesses can pause to re-evaluate business strategies, improve operating models, or restructure the organization.
  • This is especially important during the transition of industries or changing target markets.

• Ensuring Legal Compliance:

  • If the business is unable to meet financial reporting or tax requirements, business suspension helps avoid legal penalties.
  • The business can reserve its legal entity status while waiting to resolve internal issues.

3. Legal Regulations on Business Suspension

Understanding legal regulations will help businesses avoid unnecessary risks.

• Suspension Period:

  • According to the Enterprise Law, the maximum suspension period is 1 year and can be extended but not exceeding a total of 2 years.

• Notification Obligation:

  • Businesses must send a notice of business suspension to the business registration office and tax authority at least 15 days before officially suspending.
  • The notice should clearly state the reason, suspension period, and commitment to comply with legal obligations.

• Obligations During Suspension:

  • Businesses are not allowed to sign new business contracts or issue value-added invoices during the suspension period.
  • However, outstanding tax debts or previous financial obligations must still be fully resolved. Learn more here.

4. Business Suspension Procedure

The business suspension process includes the following steps:

• Prepare Full Documents:

  • Notice of business suspension according to the form.
  • Decision and meeting minutes of the Board of Members/Shareholders (if any).
  • Copy of business registration license.

• Submit Documents:

  • Documents need to be submitted at the Business Registration Office or through the national business registration portal.
  • Processing time is usually 3-5 working days.

• Notify Tax Authority:

  • The business must complete tax obligations and clearly notify the suspension period to avoid legal issues arising.

5. Difficulties When Self-Implementing Procedures

Self-implementing business suspension procedures can cause many difficulties such as:

• Documents Returned:

  • Just missing one document or incorrect information, your application will be rejected, prolonging the processing time.

• Not Understanding Legal Regulations Clearly:

  • Constantly changing regulations make it difficult for many businesses to update and implement correctly.

• Time-Consuming and Effort-Intensive:

  • Having to work with many authorities can take up a lot of your time and affect other business plans.

6. Benefits of Using Business Suspension Service at PDP Tax

PDP Tax is a reliable partner to help you solve all legal difficulties related to business suspension procedures.

• Dedicated Consulting:

  • Our team of experts will listen and provide the most suitable solution for each specific case.

• Full-Package Procedure Handling:

  • We prepare documents, submit, and work with authorities on your behalf to complete procedures as soon as possible.

• Transparent Costs:

  • PDP Tax commits to no hidden costs, helping you easily control your budget.

• Comprehensive Support:

  • After suspension, we will continue to support you in resuming business operations or performing other legal procedures.

7. Why Choose PDP Tax?

• Many years of experience in legal and corporate consulting.
• Professional staff, knowledgeable about legal regulations.
• Clear working process, ensuring optimal time and results.

8. Contact PDP Tax Today

With experience and reputation, PDP TAX is committed to providing you with fast, accurate, and effective PIT settlement services.

📞 Hotline: 0933.665.399 | 0904.073.774
📧 Email: consult@pdptax.vn
🏢 Address: 93 Nguyen The Truyen, Tan Son Nhi Ward, Ho Chi Minh City, Vietnam
🌐 Website: https://ketoanpdp.vn/

PDP TAX – Comprehensive Tax Solutions, Accompanying You!