What do new businesses need to pay attention to?

ASLAW

What do new businesses need to pay attention to?

What are the things to keep in mind when starting a new business? Are these procedures also one of the notes when setting up a company? The following article will detail the necessary procedures to do this.

There are 13 things that individuals and businesses need to pay attention to and do after setting up a new business to avoid administrative penalties for failing to comply with the law.

What do new businesses need to pay attention to?

Need to publish business registration content

After establishing an enterprise or changing its business registration, enterprises must publish their business registration contents on the National Business Registration Portal. The maximum period for implementation is 30 days from the date of issuance of the business registration license. If businesses do not comply with the law, they will be fined from 1-2 million VND.

Make tax registration and pay taxes

Within 10 days from the date of receiving the business registration certificate, the enterprise must contact the tax office for tax registration. For enterprises that submit late registration dossiers, they will be subject to a warning or a fine of from VND 400,000 to VND 2,000,000, the fine level will depend on the nature, time and different levels.

The initial tax return is a very important step for newly established businesses. Profile details include:

  • The declaration of registration of the accounting form and the type of invoice used;
  • Decision on appointment of director;
  • Decision on appointment of accountants;
  • Method of depreciating fixed assets (fixed assets);
  • License fee declaration (can be submitted online);
  • Registration form for information exchange via electronic method.

The dossier shall be submitted at the Tax Department where the enterprise’s head office is located.

Attach the business name at the head office

For newly established companies or the establishment of a company branch, the name of the business or branch must be attached at the head office. In case, enterprises fail to comply, they will be subject to a fine of from 10 million to 15 million dong and must attach the name of the enterprise as prescribed.

Carry out the registration of seal samples and seal engraving

This is a mandatory job when establishing a company and is registered and engraved at the Police Department of the province or city directly under the central government. According to Article 43 of the Enterprise Law 2020, an enterprise’s seal includes a seal made at a seal engraving establishment or a seal in the form of a digital signature in accordance with the law on electronic transactions.

According to the provisions of the Enterprise Law 2014, before using, the enterprise is obliged to notify the seal sample to the business registration agency for public posting on the National Business Registration Portal. However, the Enterprise Law 2020 no longer stipulates the notification of seal samples before use, so enterprises can use them immediately after making a seal without having to notify the business registration agency.

Register a bank account and buy a digital signature

Enterprises need to register members and shareholders to avoid penalties. Because the enterprise will be fined from 10 million to 15 million dong in the following cases: LLC with 2 members or more fails to establish and maintain a register of members or a joint stock company fails to establish and maintain a register. shareholder. In addition to paying fines, enterprises still have to make and keep registers of members and shareholders in accordance with the law.

Enterprise announces issuance of VAT invoices

Enterprises issue a notice of issuance of value-added invoices before officially issuing them. Then order to print invoices to use and serve the company. If the business does not notify the issue of invoices or does not print invoices, businesses can also buy invoices for use.

Register now Contact us for a consultation
CONTACT ASLAW FOR ADVICE

Contact

  • ASLAW
  • 0914195266
  • 0914195266

    View more posts
    Regulations on the Transfer of Intellectual Property Rights in Vietnam

    Regulations on the Transfer of Intellectual Property Rights in Vietnam

    In business and investment activities, transferring usage rights for intellectual property assets is an essential aspect of creating value and development. In Vietnam, there are specific regulations to ensure transparency and fairness for all parties involved. This article will present […]

    Legal Regulations on Contracts Involving Intellectual Property Subjects in Vietnam

    Legal Regulations on Contracts Involving Intellectual Property Subjects in Vietnam

    In the context of economic development and international integration, utilizing intellectual property subjects through contracts has become an essential part of business activities in Vietnam. However, to ensure the legality and transparency of these transactions, a careful implementation and compliance […]

    The risk of intellectual property rights conflict when abusing Chat GPT

    The risk of intellectual property rights conflict when abusing Chat GPT

    Chat GPT has become a new global phenomenon, widely disseminated and highly praised by users in Vietnam and around the world. However, with the increasing popularity of Chat GPT in Vietnam, many people have begun to express legal concerns when […]

    CONTACT ASLAW