Procedure for notification of temporary suspension of business of partnership company | iGuide

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Notice of temporary suspension of business in a partnership company

The suspension of business in a partnership must be notified in accordance with the process and procedures in accordance with current legal regulations. This article will provide detailed instructions on the steps to be taken, from preparing documents, submitting notices to completing procedures with the authorities, helping businesses follow the correct procedures and avoid legal risks.

I. General provisions

At least 03 working days before the date of temporary suspension of business, the partnership must notify the time and duration of temporary suspension.

The period of temporary suspension of business shall not exceed one year. After the expiry of the notified period, if the partnership continues to suspend business, it must make a new notification at least 03 working days before the date of continued temporary suspension of business.

During the period of temporary suspension of business, the partnership must pay all outstanding taxes; social insurance, unemployment insurance, and health insurance; continue to pay debts, and complete the performance of contracts signed with customers and employees; unless otherwise agreed by the partnership, creditors, customers, and employees.

II. Profile components:

1. Notice of temporary suspension of business (Appendix II-19 form issued with Circular 01/2021/TT-BKHĐT);

2. Decision of the Board of Members on temporary suspension of business;

3. Valid copy of Minutes of the General Meeting of Members on temporary suspension of business;

4. Authorization letter for the person submitting the application and receiving the results if he/she is not the legal representative. This document does not need to be notarized or authenticated;

5. A valid copy of one of the following personal identification documents of the authorized person performing the procedure (if any):

- For Vietnamese citizens: Valid Citizen Identification Card or National Identity Card or Vietnamese Passport.

- For foreigners: Valid foreign passport or document in lieu of a valid foreign passport.

III. Place to submit documents: Business Registration Office - Department of Planning and Investment where the company is headquartered.

IV. Processing time: Within 03 (three) working days from the date of receipt of valid documents.

In addition, a partnership in operation that sends a document to the directly managing tax authority or the business registration authority regarding the temporary suspension of production and business activities during the calendar year (from January 1 to December 31) is not required to pay the business license fee for the year of temporary suspension of business activities, provided that: The document requesting temporary suspension of production and business activities is sent to the tax authority or the business registration authority before the deadline for paying the fee as prescribed (January 30 of each year) and the business license fee for the year of temporary suspension of production and business activities has not been paid. In case of temporary suspension of production and business activities that does not meet the above conditions, the business license fee for the whole year must be paid. Please see details at the job: Declaration and payment of business license fees.