In fact, failure to cancel a company that has permanently ceased operations may have adverse effects on its owners to a greater or lesser extent. In some cases, it can also lead to obstacles for bosses to re-establish business in China in the future.
Be pulled into the
business exception blacklist
If the company is not canceled, it may be deposited in the Business Abnormal List of the Industrial and Commercial Credit Network, which will result in the company being restricted in all external business applications such as opening bank accounts, setting up shopping centers, bidding and so on.
Be restricted from
leaving the country
If there is a tax debt, the legal representative of the business may be prevented from leaving the country and from using transportation such as airplanes and high-speed trains.
Companies that fail to file tax returns on time each year may be fined between RMB 2,000 and RMB 10,000 by the tax office.
After a business license is revoked, its business name and organization code cannot be reused for three years, which further restricts your business operations in China.
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