19 Oct Procedures for company (LLC) dissolution
PROCEDURES FOR ENTERPRISE DISSOLUTION
In case the company has dependent unit(s) (branch, business location, representative office), the Company must go through procedures for dissolution of its dependent unit before submitting the dossier of dissolution of the company, the procedures include:
Procedures for termination of tax number for dependent units (submitted to Tax Department). For the dependent accounting unit, the processing time of this procedure is about 01 – 02 weeks, for the independent accounting unit, the implementation time will be longer (similar to the time of confirmation on fulfilling tax’s obligation to confirm the completion of tax obligations of the company).
After completing the procedures for termination of tax number, the company performs “dissolution procedures of dependent units (Submitted to the Department of Planning and Investment). The processing time is 01 week.
Afterwards, in order to carry out the procedure for the enterprise dissolution, we need to take the following steps:
Step 1: The company needs to carry out the following 02 procedures:
- The procedure “Notice of dissolution of the company” or commonly known as “Dissolution notice step 1”, for this procedure the company needs to submit to the DPI. The processing time is 01 week.
- The procedure “Request confirmation of completed tax obligation”. This is the procedure to apply for tax finalization for the company, after submitting the dossier, the company waits for the tax authority to assign a delegation of officers to work, check and make tax finalization for the company. Then the Company will pay additional tax arrears (if any). The execution time of this procedure is usually from 04 to 09 months.
Step 2: After the Company has “Completed tax obligation” in Step 1, the Company needs to continue the following procedures:
- In case the Company has an Investment Registration Certificate (IRC), it is necessary to carry out the procedure “Termination of investment project”, for this procedure the Company needs to submit to the Department of Planning and Investment. The processing time is 01 week.
- After completing the above procedures, the Company shall carry out the final procedure: “Submission of enterprise dissolution dossier” or commonly referred to as “Dissolution procedure step 2”, for this procedure the Company needs to submit to the Department of Planning and Investment. The processing time is 01 week.
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