Tiếng Việt
中文 (中国)How to name a business household in accordance with the law? is legal content that readers often need to check carefully before implementing it in practice. This article has been systematized by ANT Legal in an easy-to-understand way, helping individuals and businesses understand the main issues, common risks and appropriate solutions.
What is a business household?
Currently, the law does not have any regulations defining business households. However, based on Clause 1, Article 79 of Decree 01/2021/ND-CP, regulations on business households are as follows:
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Business House
1. A business household is established by an individual or household members who are responsible for all their assets for the business activities of the household. In case household members register a business household, one member shall be authorized to act as the business representative. The individual registering the business household, the person authorized by household members to act as the business household representative, is the business household owner.
2. Households engaged in agricultural, forestry, fishery production, salt making, and those selling street food, snacks, traveling, mobile businesses, seasonal businesses, and low-income services do not have to register as business households, except in the case of doing business in conditional business investment sectors. The People’s Committees of provinces and centrally run cities regulate low income levels applicable locally.
Thus, it can be understood that a business household is a business organization registered to be established by an individual or household members and is responsible with all of their assets for the business activities of the household.
What is the legal name for business households in 2024?
Pursuant to Article 88 of Decree 01/2021/ND-CP regulations on naming specific business households as follows:
Name the business household
1. Business households have their own names. The business household name includes two elements in the following order:
a) The phrase “Business household”;
b) The business household’s personal name.
The personal name is written with letters in the Vietnamese alphabet, the letters F, J, Z, W, and can be accompanied by numbers and symbols. brand.
2. Do not use words or symbols that violate the historical, cultural, ethical and fine customs traditions of the nation to name a business household.
3. Business households are not allowed to use the terms “company” or “enterprise” to name the business household.
4. The business household’s personal name must not be the same as the business household’s name registered within the district level.
From the above regulations, in 2024, the naming of business households must meet the following requirements:
(1) Must have the phrase “Business Household”
(2) Have a unique name written with letters in the Vietnamese alphabet, the letters F, J, Z, W, possibly accompanied by numbers and symbols.
(3) Do not use words or symbols that violate the historical, cultural, ethical traditions and fine customs of the nation to name names.
(4) Do not use the terms “company” or “enterprise” to name a business household.
(5) Must not be the same as the personal name of a business household registered within the district.
What are the principles of tax calculation for business households?
Pursuant to Article 4 of Circular 40/2021/TT-BTC, the tax calculation principles of business households are prescribed as follows:
– Tax calculation principles for business households and individual businesses are implemented in accordance with current legal regulations on VAT, personal income tax and relevant legal documents.
– Business households and individual businesses with revenue from production and business activities in the calendar year of 100 million VND or less are not required to pay VAT and do not have to pay personal income tax according to the law on VAT and personal income tax.
– Business households and individuals are responsible for declaring taxes accurately, honestly, completely and submitting tax documents on time; Be responsible before the law for the accuracy, truthfulness, and completeness of tax records according to regulations.
– For business households and individuals doing business in the form of groups of individuals or households, the revenue level of 100 million VND/year or less to determine whether the individual is not required to pay VAT or personal income tax is determined for a single representative of the group of individuals or households in the tax year.
Note on Applying Current Legal Regulations
This article belongs to the Business & M&A group and is presented for reference purposes, helping readers understand the legal issue at an overview level before preparing a dossier or carrying out a transaction.
Legal regulations may vary depending on the timing, locality, type of dossier and specific circumstances. If you need to determine the exact legal basis applicable to your case, you should contact ANT Legal’s lawyers at 0966.475.966 for review and advice before proceeding.
Common Legal Risks to Note
- Applying legal instruments that have been amended, supplemented or replaced.
- Preparing an incomplete set of documents, materials or necessary evidence.
- Misunderstanding the conditions, procedure, timeline or competent authority.
- Signing, submitting a dossier or carrying out a transaction before fully assessing legal risks.
How Can ANT Legal Support You?
ANT Legal can review the specific circumstances, examine the dossier, identify the applicable legal basis, advise on an appropriate handling plan and represent clients in working with individuals, organizations or competent authorities where necessary.
For prompt advice, you may contact a lawyer at 0966.475.966.
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Practical points to review
For the topic “How to name a business household in accordance with the law?”, readers should compare the legal rule with the actual documents, parties involved, timeline and evidence before choosing a course of action.
- Identify the legal relationship, signing authority and documents creating rights or obligations.
- Check deadlines, notices, payment records, approvals and evidence that may affect the legal position.
- Assess whether negotiation, document correction, complaint, arbitration, court proceedings or another route is suitable.
Documents to prepare
- Contracts, annexes, decisions, notices, emails, messages, payment records and handover/acceptance minutes where relevant.
- Enterprise, asset, license or identity documents connected to the matter.
- A short timeline of key events and the outcome expected from the review.
When to seek legal advice
If the matter has high value, strict deadlines, multiple parties, unclear evidence or potential dispute risk, consider discussing the file with ANT Legal before signing, responding or filing a claim.
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This content is for general reference only and does not replace legal advice for a specific file. A service relationship is formed only after scope and fees are agreed.
