After completing the procedures for applying for a business registration certificate, newly established businesses must promptly carry out other procedures that the newly established company needs to do. Otherwise, it may be detected and sanctioned by competent state agencies, affecting the development of the company. So, does a newly established business have to submit form 06? What is the current regulation on form 06 for newly established companies?
Legal ground
- Law on Enterprise 2020
Form 06 for newly established company
In the past, according to Circular 156/2013/TT-BTC, within 30 days from the date of issuance of a business registration certificate, newly established enterprises need to submit form 06/GTGT for voluntary registration VAT calculation method (the deduction method).
Newly established businesses and operating businesses with VAT-taxable earnings of less than VND 1 billion must submit Form 06/GTGT to the tax authority to register for VAT by the deduction method. If Form 06/GTGT is not sent to the tax authority, the VAT declaration shall be made by the direct method.
Also according to the old regulations, when converting to apply VAT calculation methods (from direct method to deduction method and vice versa), business establishments must submit Form 06/GTGT to tax authorities.
From November 5, 2017, enterprises are not required to submit Form 06/GTGT to register and charge the VAT calculation method.
Circular 93/2017/TT-BTC amended and supplemented Clauses 3, 4, Article 12 of Circular 219/2013/TT-BTC of the Ministry of Finance has removed the guidance on submitting Form 06/GTGT to register for VAT according to the deduction method for newly established business and operating business having VAT-taxable earnings of less than VND 1 billion.
Things to know when establishing a company
Before setting up a business, founders need to learn a lot to start the legal procedures of establishing a business company. So, what do you need to know when starting a company? This based on whether the actual conditions of the individuals/organizations that intend to establish a business meet the requirements as prescribed by law or not? Specifically, founders should pay attention to the following notes:
- Firstly, Subject conditions.
- Secondly, Determine whether members/shareholders will contribute capital or will invest by themselves.
- Thirdly, Business lines.
- Fourthly, Business name.
- Also, Head office’s address.
- Equally important, Type of company.
- Lastly, Charter capital.
LSX legal firm’s service on company establishment
When establishing a company, people must carry out the procedure following the law at the competent business registration authority (under the Law on Enterprise 2020). The process of establishing a business includes many different steps and phases. If you are not familiar with the law, this process may take a lot of time.
With a team of experienced, reputable, and professional consultants; The firm is always ready to support and work with clients to solve legal difficulties.
Furthermore, using our service, you do not need to do the paperwork yourself, We guarantee to help you prepare documents effectively and legally.
Also, you will not have to waste time preparing the application, submitting application, or receiving results. At those stages, we will help you do it smoothly.
After all, LSX provides the service with the desire that customers can experience it the best way. Additionally, we guarantee the cost to be the most suitable and economical for customers.
Related article
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Related questions
Enterprises must pay the following taxes:
license tax
– Corporate Income Tax (CIT)
– Value-added tax (VAT)
– Personal Income Tax (PIT)
Additionally, depending on the actual operation, businesses pay other taxes.
According to Clause 3, Article 3 of Circular 85/2019/TT-BTC; the price for civil status is a fee that falls under the competence of the provincial People’s Committee.
On the other hand, Point c, Clause 2, Article 5 of Circular 85/2019/TT-BTC stipulates the base for determining fee and charge rates as follows:
Based on socio-economic conditions in the locality where the service arises, the Provincial People’s Committee shall stipulate appropriate fees and charges.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Latest form 06 for newly established company in Vietnam?”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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