Abolishment of provisions on business suspension and resumption of household businesses in Vietnam

According to Article 91 of the Decree No. 01/2021/NĐ-CP of the Government of Vietnam, business suspension and resumption of business ahead of notified schedule are specified as follows:

- If the suspension period is 30 days or longer, the household business must send a notification to the business registration authority of the district where it was registered and its supervisory tax authority.

- If the household business suspends business or resumes its business ahead of the notified schedule, the household business shall send a written notification to the business registration authority of the district where it was registered at least 03 working days before the planned date of business suspension or resumption of business ahead of the notified schedule. Such notification must be enclosed with the copy of the minutes of the meeting of family household members on business suspension or resumption of business ahead of schedule if the household business is established by family household members. When receiving the notification, the district-level business registration authority shall give a confirmation slip to the household business. Within 03 working days from the receipt of the valid application, the district-level business registration authority shall issue a certificate of registration of business suspension or certificate of registration of resumption of business ahead of the notified schedule to the household business.

Compared to provisions of Article 76 of the Decree No. 78/2015/NĐ-CP, the suspension period must not exceed one year. However, the Decree No. 01/2021/NĐ-CP has annulled this provision. Therefore, the business suspension and resumption of household businesses is no longer bound by a certain period.

More details at the Decree No. 01/2021/NĐ-CP of the Vietnam Government, effective from January 04, 2021.

Le Thanh

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