NBU complicates the closure of entrepreneurs: what to expect for business owners.

According to inkorr.com: The National Bank of Ukraine plans to complicate the process

of closing a private entrepreneur (PE)

, in order to eliminate the activities of 'drops' - fictitious enterprises used for money laundering and tax evasion. This was reported by '

Economic Truth

'.

Why closing a PE is becoming more complicated

The NBU's proposal

is aimed at combating suspicious financial transactions. 'Drops' are individuals who receive a small reward (from 800 to 4000 hryvnias per week) for using their bank accounts for illegal financial transactions. Such PEs often open several accounts in different banks and make large sums of transfers, which contradicts the simplified taxation system.

NBU's methods in combating 'drops'

To improve the situation, the NBU has already introduced a limit on card transfers for individuals - from 50 to 150 thousand hryvnias per month depending on the user's risk. However, 'drops' successfully bypass these restrictions, so the regulator is considering creating a register of such individuals, which will include those who have ever sold access to their accounts. This will complicate the opening of new accounts and strengthen control over transfers.

New rules for closing a PE

The new initiative provides for a phased closure of PEs through services '

Diia

'. Instead of an immediate cessation of activities, the NBU proposes:

• checking the cash turnover and paying taxes;

• preparing a liquidation declaration that is automatically submitted after closure;

• registering the termination of activities.

According to the information available to the National Bank, there is a problem of using PE accounts by 'drops' for unlawful purposes, including tax evasion

, it is noted in the NBU's letter.

Currently, formally closing a PE is possible without restrictions, but it may lead to a tax audit, although there is no obligation to conduct it.

When will the new rules regarding PE closures come into effect

For ordinary PEs, these changes will not become a serious burden: checking turnover and declaration are customary procedures in reporting. A representative of the NBU in '

Economic Truth

' assures that the goal is not to complicate life for honest entrepreneurs, but to give banks time for analysis. However, the Ministry of Digital Transformation has not yet responded to the request sent a month ago, so the implementation is delayed.

Earlier, it was reported that

the payment of ESV for PEs has been simplified

.

Soon, the new rules for closing PEs may significantly change approaches to business liquidation in Ukraine, especially the mechanisms for controlling financial transactions. These changes aim to create a more transparent economy and complicate the ways of tax evasion. Further steps by the NBU in this direction will undoubtedly attract the attention of both entrepreneurs and regulatory bodies.