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Opening a bank account for a business is a common question of many businesses today. For more details, read the following article!
Are you running a business and want to optimize your financial management? Opening a business bank account is the perfect solution for you! However, if you still have questions about why you should open a business bank account, let's find the answer in the article below.
A business bank account is a payment account opened at commercial banks or credit institutions for the purpose of making transactions and payments for the business.
To put it simply, a business bank account is like an electronic "wallet" that helps businesses manage, store and use money safely and effectively.
Opening a bank account for a business brings many practical benefits, which can be summarized into the following main goals:
Opening a bank account brings many practical benefits to businesses.
Opening a bank account brings countless benefits to businesses in daily transactions and payments, such as:
According to Clause 5, Article 1 of the 2013 amended Law on Corporate Income Tax and Clause 1, Article 4 of Circular 96/2015/TT-BTC, payment via corporate bank accounts is a necessary condition for enterprises to deduct corporate income tax. Specifically, enterprises need to meet the following requirements:
Eligible for deduction of corporate income tax and VAT
Note: Not all expenses are tax deductible. Ineligible expenses will not be eligible for tax benefits even if paid through a business bank account.
According to the provisions of Point 2, Clause 10, Article 1 of Circular 26/2015/TT-BTC and Article 1 of Circular 173/2016/TT-BTC, enterprises need to pay via bank accounts to deduct input value added tax (VAT). Specifically:
Opening an account helps businesses manage their finances professionally.
Compliance with these regulations not only helps businesses effectively deduct input VAT but also enhances transparency and professionalism in financial management.
Although opening a corporate bank account is not mandatory, most tax authorities now require businesses to pay taxes online through a bank account. In addition, a bank account brings many other important benefits to businesses. Therefore, although there is no mandatory regulation, businesses should register for a bank account to increase convenience and efficiency in daily financial transactions.
Choosing the right bank to open a corporate bank account is an important decision that directly affects the financial and operational activities of the business. Businesses need to consider many factors such as the reputation of the bank, service quality, fees, account features, customer support, etc.
Many businesses chooseOpen an account at SeABank
Among them, SeABank has emerged as one of the top choices for businesses when they need to open a bank account. SeABank is a reputable commercial bank, operating for many years with a wide network of branches nationwide. The bank offers a variety of account packages specifically for businesses with many attractive incentives such as:
Opening a bank account for a business not only helps the business manage its finances effectively but also brings many outstanding benefits such as: increasing professionalism, saving time and complying with legal regulations. Hopefully with today's article, you have found the benefits for businesses when opening a bank account.
Don't forget to check out SeABank's business bank account opening service to discover the optimal solution for your business's financial management today. To learn more about business bank account opening services at SeABank, please visit the website or contact Hotline 1900.599.952 (KHDN).