Consulting and support for tax finalization and cessation of operations

Within 7 working days from the date of the decision to cease business operations, the enterprise must submit a notification of the cessation decision to the Business Registration Office where it is headquartered so that the cessation of operations can be published on the National Business Registration Portal.

Within 45 working days after completing step 1, the enterprise must submit its tax finalization declarations and financial statements for the cessation of business operations, covering the period from its establishment to the cessation date or from its most recent tax finalization inspection to the cessation date (late submission will result in penalties), obtain confirmation that it has no outstanding import or export taxes, and contact the social insurance authority to confirm that it has no outstanding social insurance contributions (if applicable).

After completing step 2 (Notification of Completion of Tax Obligations) and settling any debts (if any), the enterprise must submit its cessation-of-operations dossier to the competent authority.

*Note:

• Before carrying out the tax finalization, an enterprise with branches, representative offices, or business locations must complete the procedures for terminating the operations of these dependent units and liquidating assets (if any). The time required depends on the status of the enterprise’s legal records and the completion of its tax finalization and tax obligations.
• The enterprise remains responsible for its debts and other financial obligations (if any). If any pre-existing debts remain unpaid after the enterprise has ceased operations, it must continue to settle those debts with its creditors.

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