Фото: WHAT REPORTS TO SUBMIT IN CASE OF TERMINATION OF INDIVIDUAL ENTREPRENEUR

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WHAT REPORTS TO SUBMIT IN CASE OF TERMINATION OF INDIVIDUAL ENTREPRENEUR

Reading time: 2 min.

 The opposite effect to the creation of an entity is its termination. In this case, such an action is no less important, because compliance with the correct algorithm of actions is a guarantee of the absence of disputes with regulatory authorities. Therefore, we pay attention to the peculiarities of deregistration in the State Tax Service of Ukraine of a natural person-entrepreneur.

 This stage is the next after the state registration of the termination of the business entity, ie after the reflection in the Unified State Register of information on the termination (from this stage, the natural person-entrepreneur loses his status of the business entity). The current legislation of Ukraine does not establish an obligation for FOPs to notify the State Tax Service of termination in a certain way, as this is done in the framework of interaction between state bodies. However, such termination does not terminate the obligation to settle budgets for taxes and fees, so the obligation to close settlements with budgets remains.

 The above indicates the need to submit a declaration of income for the last reporting period. This is an important aspect, as the tax authorities have the right to conduct an unscheduled tax audit of such FOP.

The submission of reports depends on the existing tax system of a particular private individual:

  • General system (the declaration is submitted within thirty days from the date of state registration of termination, and the calculation of the military tax and personal income tax is carried out within ten days after the submission of the declaration);
  • Simplified system (single tax) the filing of the declaration is carried out within forty days from the end of the last reporting period (quarter), and payment is made for a full month, regardless of the date of termination);
  • Single social contribution (submission of the liquidation report is made within thirty days from the date of termination, and payment - within ten days from the date of submission of the report);
  • Value added tax (filing an application № 3-VAT is not mandatory for cancellation of VAT registration, as the tax authority can take such action independently);
  • Form 20-OPP is submitted to update information on objects of taxation and objects related to taxation. In this form, in column 2, it is necessary to indicate the figure 6 "Closing the object of taxation".

 You should also keep in mind the RRO, as there is an obligation to deregister such a registrar. To do this, fill in the application of 4-RRO to the tax authority. Such withdrawal shall be made within five calendar days of the submission of the application for which the certificate is issued.

 Therefore, accountants should be careful when taking action in connection with the termination of an entity. To facilitate your work and comply with all the requirements of applicable law, contact the law firm "Prikhodko and Partners", we will provide you with quality and complete advice, as well as help you avoid mistakes when interacting with regulatory authorities.

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Chief Accountant

Leading specialist with practical experience in economics and accounting.

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