Exempted from tax and land rent if converting a business household into an enterprise

(Baonghean.vn) - If a business household converts into an enterprise, it will be exempted from business license fees for 3 years, exempted from taxes, exempted from land use fees... Those are the benefits enjoyed from January 1, 2018 according to"Law on Support for Small and Medium Enterprises 2017".

Enterprise of war veteran Bui Dang Than, Anh Son town (Nghe An) creates jobs for many workers with stable income. Photo: Document

On that basis, if business households establish small and medium enterprises, they will receive support and incentives from the State in the following areas:

1. Receive free consultation and guidance from the business registration agency on documents and support for conversion registration procedures when carrying out business establishment procedures.

2. Exemption from business registration fees and fees for providing business information for the first time

3. Exempt from appraisal fees, fees, and charges for first-time conditional business licenses

4. Inherit all rights, obligations and legitimate interests of the business household.

In case a limited liability company or joint stock company is established on the basis of conversion from a business household, the business household owner shall be responsible with all of his/her assets for the unpaid debts of the business household, unless otherwise agreed upon in accordance with the provisions of law.

5. Receive free consultation and guidance on tax administrative procedures and accounting regimes within 03 years from the date of being granted the first Business Registration Certificate;

6. Exempted from business license fees for the first 03 years from the date of being granted the first Business Registration Certificate;

7. Be exempted or reduced from corporate income tax for a limited period of time according to the provisions of the law on corporate income tax.

8. Exemption and reduction of land use fees for a limited period of time according to regulations of the law on land.

Download the content of the Law on Support for Small and Medium Enterprises here.

NN(Synthetic)