The National Bank of Ukraine plans to significantly complicate the procedure for closing an individual entrepreneur (IE) in order to close loopholes for "drops" - fictitious businesses that are used for money laundering and tax evasion. This is reported by "Economic Truth".
Why closing IEs in Ukraine has become more complicated
NBU's proposal is aimed at combating suspicious transactions, where "drops" are people who, for a modest reward of 800-4000 UAH per week, allow legal registration of bank accounts for illegal transactions. Such IEs often open several accounts in different banks, conducting large sums that contradict the simplified taxation system.
How the NBU will fight "drops" among entrepreneurs
To rectify the situation, the NBU has already introduced a limit on card transfers for individuals - from 50 to 150 thousand UAH per month depending on the client's risk. However, "drops" circumvent the restrictions, so the regulator is discussing the creation of a registry of such persons: all who have ever sold access to accounts will be included there. This will complicate the opening of new accounts and enhance control over transfers.
How closing IEs has become more complicated
Now the key innovation is the phased closure of IEs through the "Diia" services. Instead of immediate liquidation, the NBU proposes:
- verification of cash turnover and tax payments;
- preparation of a liquidation declaration with transaction data, which is automatically submitted after closure;
- registration of cessation of activities.
"According to the information available to the National Bank, there is a problem with the use of accounts by IEs 'drops' for illegal purposes, including tax evasion," - it is stated in the NBU letter.
Although formally closure is now possible without restrictions, it may provoke a tax audit, but without the obligation to conduct it.
When will the new rules for closing IEs take effect
For ordinary IEs, the changes will not be a burden: verification of turnover and declaration are routine steps that are already part of the reporting. A source at the NBU told "Economic Truth" that the goal is not to complicate the lives of honest businesses, but to give banks time for analysis. However, the Ministry of Digitalization has yet to respond to a letter sent a month ago, so implementation is delayed.
Earlier we wrote that IEs have been simplified for ESV payment.