After receiving a business license, an enterprise is required to carry out the following documents and procedures to avoid unexpected penalties:
  • Initial tax return documents: The initial tax return documents is a very important step for newly established businesses, includes:
– The declaration of registration of the accounting form and the type of invoice used.
– Decision on appointment of director.
– Decision on appointment of accountants.
 Method of depreciating fixed assets (fixed assets).
 License fee declaration (can be submitted online).
 Registration form for information exchange via electronic method.
  • Openning a bank account: When foreign-invested company has established already, it needs to open bank account ( Investment account and Operation account). Foreign members have to contribute to Investment account to complete the capital contribution.
The banks that businesses should use: Vietinbank, Sacombank, Vietcombank…
  •  Hiring a fulltime or parttime accountant: Business owners need to recruit a fulltime or parttime accountant to handle accounting tasks, labor contract, filing tax returns, making financial statements…
  •  Buying digital signatures: Businesses need to use digital signatures to submit Tax returns through the Tax Authority’s electronic system.
To be able to use digital signatures, businesses after purchasing digital signatures at providers such as Viettel
  •  Hanging Company Signboard: According to the 2014 Enterprise Law, the business name must be written or affixed at the head office.
Businesses that do not hang company signs can be fined from 10 to 15 million VND.