Legal basis:
Article 17 of the Regulations on Individual Industrial and Commercial Households
After obtaining a business license, individual industrial and commercial households shall go through tax registration according to law.
Where the contents of the tax registration of individual industrial and commercial households change, the tax registration shall be changed or cancelled according to law.
Article 20
Individual industrial and commercial households may, with their business licenses and tax registration certificates, open accounts in banks or other financial institutions according to law and apply for loans.
Financial institutions should improve and perfect financial services to facilitate individual industrial and commercial households to apply for loans.
Article 23
If the registered items of individual industrial and commercial households change and fail to register for change, the registration authority shall order them to make corrections and impose a fine of 1500 yuan; If the circumstances are serious, the business license shall be revoked.
Individual industrial and commercial households have not gone through tax registration, and the tax authorities shall order them to make corrections within a time limit; If no correction is made within the time limit, the registration authority shall request the tax authority to revoke its business license.