Closing a Loss-Making Company Dormant Since 2013 Could Cost Nearly $4,000

A company that stopped operating more than a decade ago is still costing its former owner money. He has already paid more than 80 million Vietnamese dong, yet the legal entity has not been dissolved. The total bill could approach 100 million dong.

The business was founded in Da Nang in 2012 by H.V. and a group of newly graduated friends working in communications and event organization. It soon proved unsuccessful, and the group broke up. The company suspended operations for a year in 2013, after which V. followed advice that a business with no debts or revenue could simply be left dormant.

In early June 2026, V. discovered through an electronic tax application linked to his citizen identification number on VNeID that he could face a temporary exit ban unless he paid more than 8 million dong in tax obligations by August 13. At first, he said, he was surprised but not overly worried. A review of the company’s records revealed additional filing obligations, taxes, late-payment charges, fines and administrative costs.

The company had operated for only one year and issued just one service invoice. Its original value-added tax liability was about 4 million dong, but late payment doubled the amount shown in the notice to 8 million dong. To resolve the matter and remove the travel restriction, V. had to restore the company’s locked tax identification number and begin dissolution procedures.

He said penalties related to the tax number, business license fees and late filing of blank returns had accumulated to between 80 million and 82 million dong. Because he was busy earning a living and unfamiliar with the procedures, he also paid a reputable legal service between 10 million and 15 million dong to help untangle the filings. His case comes as authorities count 292,000 entities that have ceased operations without completing dissolution, alongside more than 325,000 companies no longer operating at their registered addresses.

“

just leave the paperwork aside and it will not affect anything