A draft Law on the Development of Small and Medium Enterprises, presented to the National Assembly on Oct. 17 by Finance Minister Ngô Văn Tuấn, proposes that 'one-person enterprises' (single-member LLCs owned by an individual) not be required to have a company chairman or chief accountant, to cut costs after converting from household businesses. The draft also proposes shortening registration time, exempting some initial fees, and raising the revenue threshold for the simplified tax method to 10 billion VND per year. SME criteria would be based on average annual employee numbers, capped at 300 workers, 400 billion VND in revenue and 150 billion VND in total capital. The Economic and Finance Committee said these criteria fluctuate yearly and are hard to apply, proposing data from the two to three preceding years, and flagged that setting aside 20 hectares per zone or 5% of land area may be hard to implement.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Đề xuất 'doanh nghiệp một người' không bắt buộc phải có chủ tịch, kế toán trưởng
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