IP liquidation procedure

An individual entrepreneur is responsible for paying taxes and making contributions to the Social Security Fund. He must do this until the liquidation of the IP. This process means the completion of commercial operations and the fulfillment of obligations that arose during the activity. The procedure for liquidating an individual entrepreneur depends on the characteristics of entrepreneurship. Obligations can be many and varied. In this regard, the closure of the IP involves the implementation of many procedures.

Preparatory stage of IP liquidation

The procedure for the liquidation of an individual entrepreneur begins with preparation. First of all, you need to make a decision that it is necessary to stop the activity. This can be done for a number of reasons. Among them are the following:

• by decision of the registration authority
• by decision of the court that considers economic cases.

The closure of IP in Belarus can be started for other reasons:

• death of an individual who is registered as an individual entrepreneur;
• the owner is sent to urgent military or alternative service;
• being in penitentiary institutions;
• a verdict was issued in which a person is prohibited from engaging in this activity.
It is important to note that the procedure for liquidation of an individual entrepreneur changes in the event of a planned inspection. You can stop the activity only after it. Closing an IP in Minsk is a lengthy process that lasts at least 2 months. In some cases, more than 9 months. The procedure for the liquidation of an individual entrepreneur and its duration can be changed by the decision of the entrepreneur. The term of closing, as a rule, does not exceed 12 months.

Financial and economic stage

The order of IP liquidation implies that during the implementation of this process it is forbidden to perform operations on bank accounts, make transactions, etc. An exception is the satisfaction of creditors' claims, but here it is important to follow a certain sequence.

The official stage of the liquidation of IP in the Republic of Belarus

At this stage, you need:

1. Submit to the registration authority an application for the need to terminate business activities, which indicates the procedure for liquidating the IP, the term, whether employment contracts were concluded, etc.
2. Settle with the Ministry of Taxes and Social Security and others. It is important to note that the registering authority itself sends notifications that the IP is being liquidated. Further, the Ministry of Taxation, the Social Security Fund and others inform the entrepreneur about the presence or absence of debts.

After that, the final stage begins. The activities of an individual entrepreneur can be considered terminated only when the registering authority decides to make an entry in the register on exclusion from it.
The procedure for liquidating an individual entrepreneur is a rather complicated process, therefore, upon completion of activities, it is better for entrepreneurs to contact specialists who provide legal assistance. Only a person with relevant knowledge and experience will be able to do everything competently and in the shortest possible time.