Đánh giá bài viết

7 things to do immediately after establishing a company at is legal content that readers often need to check carefully before implementing it in practice. This article has been reorganized by ANT Legal in an easy-to-understand way, helping individuals and businesses understand the main issues, common risks and appropriate solutions.

1.Submit initial tax declaration documents

Initial tax declaration documents are a very important step for newly established businesses.

Detailed documents include:

– Declaration to register accounting form and type of invoice used;

– Decision to appoint director Governor;

– Decision to appoint accountant;

– Method of depreciation of fixed assets;

– License fee declaration (can be submitted online);

– Registration form for information exchange via electronic method.

Documents submitted at Tax Department where the business is headquartered.

2.Open an account and notify the bank account number.

Currently, bank accounts bring a lot of convenience to businesses in paying taxes or performing business transactions. Furthermore, with regulations requiring wire transfers for transactions of 20 million VND or more, opening an account is also something that businesses must do.

After opening an account, within 10 days, businesses must notify the Department of Planning and Investment to obtain information, manage and control transactions.

A bank account can only be used for one business, but one business can can have many bank accounts (depending on the needs of the business or the incentives and services of the bank that the business chooses).

Accordingly, the 3 large, reputable banks that Nhu Y is affiliated with are Vietcombank, Vietinbank, UOB. If customers of Nhu Y Accounting need to open a business account at the above 3 banks, please share so we can support you.

3. Buy digital signatures

Digital signatures, electronic signatures or tokens with a USB-like shape, are considered important electronic tools for businesses to carry out procedures and documents online such as signing online contracts, banking transactions, social insurance… without having to waste time traveling, printing, stamping…

Similar to a bank account, a business can use many digital signature, but a digital signature is only used for one business.

To be able to use digital signatures, businesses, after purchasing digital signatures at suppliers such as Viettel, FPT,… must register with the tax authority and be confirmed by the bank.

4. Hang the company sign.

According to the provisions of the Law on Enterprises 2020, the business name must be written or attached at the head office, branch, representative office of the business, which means that the business must have the obligation to attach the name at the head office, branch, representative office. The business name is attached to the company sign. This is a mandatory obligation. Any company that does not comply will be subject to administrative sanctions. In addition, it is also required to write or label the name of the branch, representative office, and business location according to regulations

Making a company nameplate is one of the important jobs in the process of forming and putting a company into operation because when making a company nameplate, they will carry out certain basic roles such as:

Demonstrating the professionalism and class of the unit me
Helping customers easily identify and class of their unit
Reach out to customers on a wider scale and be known by many people
Sign boards help stand out the company compared to neighboring companies
Help customers easily identify the brand
Helps Businesses show their reputation to potential customers
Create a beautiful image in the hearts of customers

5. Procedures for issuing invoices.

VAT invoices (also known as VAT invoices) and direct sales invoices can use the form of electronic invoices and paper invoices. No matter what type of invoice a business uses, it must still carry out invoice issuance procedures and send it to the directly managing tax agency.

► For paper invoices: After completing the procedure for printing VAT invoices and receiving approval from the directly managing tax agency, the business will proceed to contact the invoice printing unit and issue them.

► For electronic invoices: After filing The registration application to use electronic invoices is approved (about 2 days from the date of submission), the issued invoice will be valid for use. Documents include:

Decision to use invoice;

Invoice issuance notice;

Sample invoice.

According to Circular 68/2019/TT-BTC, the deadline for businesses to use electronic invoices is November 1, 2020. Reputable electronic invoice providers such as Viettel, Viettak, Misa, VNPT…

Note: To make notification of issuance of electronic invoices, businesses must have:

Digital signature (token);

HTKK software to make electronic invoice issuance notices and XML output;

Decided to use scanned invoices and sample invoices attached to word files to submit online.

6. Complete conditions for licenses, certificates, and capital.

For missing information during the company registration process such as sublicenses or practice certificates (for conditional business codes), businesses need to quickly complete them to avoid being fined in case of an inspection team.

At the same time, for types of companies such as limited liability companies, joint stock companies, partnerships… must comply with capital contribution commitments within the prescribed period of 90 days from the date of obtaining the business license. In case after establishment, there are unexpected events that affect finances and the time limit for capital contribution commitment, the enterprise must carry out procedures to adjust and reduce charter capital.

7. Participate in employee insurance and tax issues.

► For insurance policies for employees:

Participating in insurance for employees is the responsibility of the business. However, for most newly established businesses, this is a problem that is often overlooked.

According to Decision 772/QD-BHXH, within 30 days from the date of signing the official labor contract with the employee, the enterprise must submit an insurance application for the employee, details of the application include:

Declaration of participating units and adjustment of social insurance and health insurance information (Form TK1-TS issued with Decision 505/QD-BHXH dated March 27, 2020);

List of employees participating in social insurance, health insurance, unemployment insurance, occupational accident and occupational disease insurance (Form D02-TS issued with Decision No. 505/QD-BHXH dated March 27, 2020).

► For tax issues:

Types of taxes such as: VAT declaration, personal income tax declaration (if any arise) quarterly, VAT, personal income tax, corporate income tax (if any), year-end settlement report, report on invoice usage… businesses must declare and pay in accordance with the law to avoid being fined for late payment or having their tax code locked.

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.

Business & M&A, Legal Knowledge

7 things to do immediately after establishing a business or company in Vietnam