NBU proposes to check taxes and finances before closing an individual entrepreneur. The goal is to stop “drop” and money laundering schemes. The reason is “drops” and financial schemes
The National Bank of Ukraine has initiated changes in the procedure for closing individual entrepreneurs (IEPs). The main goal is to combat so-called “drop” schemes. Such entrepreneurs open several accounts, actively conduct financial transactions, and then quickly close the business, avoiding inspections and paying taxes.
What the National Bank proposes
The regulator has developed several steps that will make it impossible to use an IEP for money laundering:
checking tax and financial obligations before liquidation;
automatically generating liquidation declarations;
registering the closure of an IEP only after confirming the absence of debts.
Will honest entrepreneurs suffer
The NBU emphasizes: for conscientious entrepreneurs, the procedure will not become a serious problem. Checks will be carried out quickly, and the system will be automated as much as possible. It is expected that the new rules will only make it more difficult for those who use individual entrepreneurs in money laundering or tax evasion schemes.
