Works to do after setting up a household business

  • 06/05/2022 16:39

1. Check the certificate of business household registration:

🔰 After receiving the business household registration certificate, the business household owner checks the information on the certificate.

🔰 When detecting that the contents of the business household registration certificate are incorrect (inaccurate) compared with the business household registration documents, the business household has the right to request the competent authority to correct the contents of the business household registration certificate

2. Submit initial tax return:

✅ Pursuant to Point i, Clause 2, Article 4 of Circular 105/2020/TT-BTC, households and individuals engaged in the production and trading of goods and services, including individuals from countries sharing a land border with Vietnam carry out activities of buying, selling, and exchanging goods at border markets, border-gate markets and markets in border-gate economic zones (business households and business individuals) as the object to tax registration directly with the tax authority.

✅ According to Clause 8, Article 7 of Circular 105/2020/TT-BTC, even though they are business households or business individuals, they prepare a dossier of different documents depending on the specific object, including:

Declaration of registration of accounting form and type of invoice used;

Decision on appointment of director;

Decision to appoint accountants;

Method of depreciating fixed assets (fixed assets);

License fee declaration (can be submitted online);

Registration form for exchanging information electronically.

3. Hanging business signs:

▪️ Currently, according to regulations on business households in general and specific regulations on business households, it is not mandatory for business households to hang signs at the head office.

4. Open a company bank account, and notify the bank account the tax authority:

⏩  Each operating household needs to have its own bank account. When it comes into operation, it is essential to have a bank account to make payment transactions by wire transfer and pay taxes electronically.

⏩  The latest deadline for a business household to announce its bank account is 10 days from the date of issuance of the business household registration certificate.

5. Digital signature registration, electronic tax payment:

💢 A digital signature is a common device currently required by the government for each business household to use to support the business household to submit electronic tax and report submissions, and declare tax, and customs,... Buy signatures Number is also one of the things to do after setting up a company.

         Businessmen can refer to the digital signature price list here.

6. Issuance of electronic invoices:

⚡ According to the law, when operating, business households need to issue invoices according to regulations. In case a business household sells goods or provides services without issuing invoices, it is an act of tax evasion that will be prosecuted for penal liability. That's why business households need to pay attention. In order to be able to use household invoices, it is necessary to carry out the procedures for issuing electronic invoices. These procedures need to be carried out by the business household and submitted to the tax office for confirmation of the use of invoices. After receiving the invoice and being allowed to use it, the business households can carry out procedures for issuing invoices according to regulations.

⚡ On the market today, there are many reputable e-invoice service providers. All these units must be licensed to operate and are under the management of the General Department of Taxation, so business households only need to choose the appropriate supplier. Business households can search for e-invoice software service providers on the websites of tax departments.

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