Are enterprises responsible for fulfillment lịch trực tiếp bóng đá hôm nay tax liability upon bankruptcy in Vietnam?

Are enterprises responsible for fulfillment oftax liability uponbankruptcy in Vietnam?

According to Article 4 lịch trực tiếp bóng đá hôm nay the2014 Law on Bankruptcy, the provisions regarding bankruptcy are as follows:

Definitions

In this Law, the following terms are understood as follows:

1. An enterprise or cooperative that is unable to pay debts is an enterprise or cooperative that fails to fulfill its debt payment obligations within a period lịch trực tiếp bóng đá hôm nay 03 months from the due date lịch trực tiếp bóng đá hôm nay the debt.

2. Bankruptcy is the status lịch trực tiếp bóng đá hôm nay an enterprise or cooperative that is unable to pay its debts and has a bankruptcy declaration issued by the People's Court.

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According to Clause 1, Article 138 lịch trực tiếp bóng đá hôm nayCircular 38/2015/TT-BTCamended by Clause 70, Article 1 lịch trực tiếp bóng đá hôm nayCircular 39/2018/TT-BTC, it is regulated as follows:

Completion lịch trực tiếp bóng đá hôm nay Tax Obligations in Cases lịch trực tiếp bóng đá hôm nay Dissolution, Bankruptcy, or Termination lịch trực tiếp bóng đá hôm nay Operations

1. The completion lịch trực tiếp bóng đá hôm nay tax obligations in cases lịch trực tiếp bóng đá hôm nay dissolution, bankruptcy is implemented according to the provisions lịch trực tiếp bóng đá hôm nay Article 54 lịch trực tiếp bóng đá hôm nay the Law on Tax Administration, the law on enterprises, the law on cooperatives, and the law on bankruptcy. The responsibility to complete tax obligations is as follows:

a) The owner lịch trực tiếp bóng đá hôm nay a private enterprise, the company owner, or the company's board lịch trực tiếp bóng đá hôm nay members; the board lịch trực tiếp bóng đá hôm nay directors, or the liquidation organization lịch trực tiếp bóng đá hôm nay the enterprise, or the manager involved in the case lịch trực tiếp bóng đá hôm nay the company's Charter stipulating they are responsible for completing the enterprise's tax obligations before submitting the dissolution proposal to the business registration authority;

b) The dissolution council lịch trực tiếp bóng đá hôm nay the cooperative is responsible for fulfilling the cooperative's tax obligations before submitting the dissolution dossier to the authority that issued the registration certificate;

c) The asset management and liquidation trustee or enterprise management is responsible for completing the enterprise's tax obligations after there is a decision to open bankruptcy proceedings according to the provisions lịch trực tiếp bóng đá hôm nay the Law on Bankruptcy.

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Thus, an enterprise operating at a loss and unable to pay debts leading to bankruptcy is still responsible for completing the obligation to pay personal income tax.

At this point, the asset management trustee or the enterprise management company is responsible for completing the tax obligations lịch trực tiếp bóng đá hôm nay the enterprise after a decision to open bankruptcy proceedings is issued.

Are enterprises responsible for fulfillment lịch trực tiếp bóng đá hôm nay tax liability upon bankruptcy in Vietnam?(Image from the Internet)

What is the responsibility lịch trực tiếp bóng đá hôm nay an enterprise that is shut down without following procedures for bankruptcy in Vietnam?

According to Clause 2, Article 138 lịch trực tiếp bóng đá hôm nayCircular 38/2015/TT-BTCamended by Clause 70, Article 1 lịch trực tiếp bóng đá hôm nayCircular 39/2018/TT-BTC, it is regulated as follows:

Completion lịch trực tiếp bóng đá hôm nay Tax Obligations in Cases lịch trực tiếp bóng đá hôm nay Dissolution, Bankruptcy, or Termination lịch trực tiếp bóng đá hôm nay Operations

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2. The responsibility to complete tax obligations in cases where the taxpayer ceases operations without carrying out dissolution or bankruptcy procedures in accordance with the law

a) Enterprises ceasing operations without following dissolution or bankruptcy procedures that have not completed tax obligations, the private enterprise owner; the company's board lịch trực tiếp bóng đá hôm nay members, or the company owner; the board lịch trực tiếp bóng đá hôm nay directors; cooperative management; or the related manager according to the company's Charter must be responsible for paying the outstanding tax debts;

b) Households and individuals ceasing business operations without completing tax obligations, the household head or individual is responsible for paying the outstanding tax debts;

c) Cooperations ceasing operations without completing tax obligations, the members lịch trực tiếp bóng đá hôm nay the cooperation are jointly responsible for paying the outstanding tax debts.”

Thus, an enterprise that ceases operations without carrying out bankruptcy procedures, the owner lịch trực tiếp bóng đá hôm nay a private enterprise, the company's board lịch trực tiếp bóng đá hôm nay members, or the company owner, the board lịch trực tiếp bóng đá hôm nay directors, cooperative management, or related manager must be responsible for paying the outstanding tax debts lịch trực tiếp bóng đá hôm nay the enterprise. If it is a household, the head lịch trực tiếp bóng đá hôm nay the household will be responsible, and if it is a cooperation, the cooperation members are jointly responsible for paying the outstanding tax debts.

What are regulations on sequence lịch trực tiếp bóng đá hôm nay redistribution lịch trực tiếp bóng đá hôm nay assets in Vietnam?

Pursuant to Article 54 lịch trực tiếp bóng đá hôm nay the2014 Law on Bankruptcy, the sequence lịch trực tiếp bóng đá hôm nay redistribution lịch trực tiếp bóng đá hôm nay assets is regulated as follows:

- Should the judge declare bankruptcy, the assets lịch trực tiếp bóng đá hôm nay the enterprise or cooperative are distributed in the following order:

+ Bankruptcy costs;

+ Wages, severance benefits, social insurance, and health insurance for employees, including other benefits under labor contracts and signed collective labor agreements;

+ Debts incurred after opening bankruptcy proceedings for the purpose lịch trực tiếp bóng đá hôm nay restoring business operations lịch trực tiếp bóng đá hôm nay the enterprise or cooperative;

+ Financial obligations towards the State; unsecured debts payable to creditors in the list lịch trực tiếp bóng đá hôm nay creditors; partially secured debts yet to be paid off because the value lịch trực tiếp bóng đá hôm nay secured assets is insufficient to cover the debt.

- If the value lịch trực tiếp bóng đá hôm nay the assets lịch trực tiếp bóng đá hôm nay the enterprise or cooperative, after paying all the items mentioned in Clause 1 lịch trực tiếp bóng đá hôm nay this Article, still remains, the remainder belongs to:

+ Cooperative members, member cooperatives;

+ The owner lịch trực tiếp bóng đá hôm nay a private enterprise;

+ The owner lịch trực tiếp bóng đá hôm nay a single-member limited liability company;

+ Members lịch trực tiếp bóng đá hôm nay a two-member limited liability company or more, shareholders lịch trực tiếp bóng đá hôm nay a joint-stock company;

+ Members lịch trực tiếp bóng đá hôm nay a partnership.

- If the asset value is insufficient for payment, each entity within the same priority rank receives payment proportional to the outstanding debt.