- After transformation, enterprises will be granted new corporate codes inscribed in enterprise registration certificates.
TINs of household businesses will become invalid but still be continued for use as personal tax codes of representatives of household businesses.
- After being transformed, enterprises will inherit all tax rights and obligations from household businesses in the event that household businesses fail to fulfill their obligations before that.
In case of limited liability companies or joint stock companies established on the basis of transformation from household businesses, householders (representatives of household businesses) must:
Be held liable by offset all of their own property against outstanding debts of household businesses, unless otherwise agreed upon in accordance with laws.
- In case of transferring tax obligations of household businesses to enterprises or householders, tax agencies in charge of managing household businesses must prepare notice of transfer of obligations of taxpayers according to prescribed procedures and hand over such tax obligations to tax agencies in charge of managing enterprises.
The Official Dispatch No. 786/TCT-KK was promulgated on March 12, 2019.
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