Getting ‘death certificate’ a trouble for bankrupt firms in Vietnam
Saturday, April 18, 2015, 15:09 GMT+7
It is not quite difficult for a business to go into bankruptcy, but it really is when it comes to filing for insolvency here in Vietnam.
Any firm seeking for bankruptcy must secure verification from tax authorities as having no tax debt before it can complete the final bankruptcy formality at the investment and planning department.
Being unable to complete the insolvency procedure means the company will not have the “death certificate,” which is crucial for them to be completely absolved of corporate duties and responsibilities.
