If an accounting service business temporarily suspends its business, when it resumes operations, which agency must it notify?

If an accounting service business temporarily suspends its business, when it resumes operations, which agency must it notify?

Notification of accounting service business activities is specified in Clause 3, Article 10 of the Circular 297/2016/TT-BTC as follows:

Temporarily suspending accounting service business

1. Enterprises providing accounting services must send a notice to the Ministry of Finance about the temporary suspension of accounting services according to the form specified in Appendix 8 issued with this Circular within the time limit specified in Clause 1, Article 66 of the Law on Accounting.

2. Enterprises providing accounting services are not allowed to provide accounting services during the period of temporary suspension of accounting service business.

3. When resuming operations, accounting service enterprises must ensure the conditions prescribed by law and must notify the Ministry of Finance in writing.

Thus, according to regulations, in case an accounting service enterprise temporarily suspends business, it must notify the Ministry of Finance in writing when it resumes operations.

Note: Enterprises providing accounting services are not allowed to provide accounting services during the period of temporary suspension of accounting service business.

In case an enterprise provides accounting services during the period of temporary suspension of accounting service business, this is considered a violation of regulations on accounting service business activities as prescribed in Point b, Clause 4, Article 14 of Circular 297/2016/TT-BTC.

If an accounting service business temporarily suspends business, will it be disclosed on the Ministry of Finance’s website?

Cases of information disclosure about accounting service businesses are specified in Clause 1, Article 13 of Circular 297/2016/TT-BTC as follows:

Publicity Information about accounting service businesses

1. The Ministry of Finance publishes on the Ministry of Finance’s website:

a) List of enterprises qualified to provide accounting services;

b) List of accounting service businesses that are suspended from providing accounting services, have their Certificates of eligibility to provide accounting services revoked, or are warned about the conditions for conducting business in accounting services;

c) List of accounting service businesses that temporarily suspend their accounting service business, and terminate their accounting service business math.

2. Within 30 days from the date of issuance of the Certificate of eligibility for business in accounting services, the enterprise providing accounting services must publish the content of the Certificate of eligibility for business in accounting services specified in Points a, b, c, Clause 3, Article 5 of this Circular in one of the written or electronic newspapers for 03 consecutive issues.

Thus, according to regulations, for accounting service businesses that are temporarily suspended from business, the Ministry of Finance will publicize them on the Ministry of Finance’s website.

How long must an accounting service business that temporarily suspends its accounting service business notify the Ministry of Finance?

The time limit for notification of temporary suspension of accounting service business is specified in Clause 1, Article 66 of the 2015 Accounting Law as follows:

Changes that must be notified to the Ministry of Finance main

1. Within 10 days from the date of change in one of the following contents, an accounting service enterprise must notify in writing to the Ministry of Finance:

a) List of accountants practicing at the enterprise;

b) Failure to ensure one, some or all of the accounting service business conditions specified in Article 60 of the Law this;

c) Name and address of the head office of the enterprise;

d) Director or general director, legal representative, capital contribution ratio of members;

đ) Temporary suspension of accounting service business;

e) Establishment, termination of operations or change of name and address of branch headquarters accounting services business branch;

g) Carry out division, separation, merger, consolidation, conversion, dissolution.

2. Within 10 days from the date of change in one of the following contents, accounting service business households must notify in writing to the Ministry of Finance:

a) List of practicing accountants;

b) Name and address of business households;

c) Suspension or termination of accounting service business.

Thus, according to regulations, in case an enterprise providing accounting services temporarily stops providing accounting services, it must notify the Ministry of Finance in writing.

The notice period is 10 days from the date of temporary suspension of accounting service business.