In June, the Independent Authority for Public Revenue (AADE) will launch a new platform on its digital portal to assist those preparing to cease their business operations.
This digital transition will allow business closures to be processed through an automated system that verifies compliance with the required conditions and reviews the necessary documentation, which will be significantly reduced compared to current tax office requirements.
Declarations submitted on time, within 30 days of the actual cessation date, will be reviewed swiftly, eliminating any inconvenience for businesses or professionals.
For late submissions, the system will perform an electronic check and cross-reference the information to ensure the cessation date provided by the taxpayer is accurate.
Once the verification is complete and conditions are met, the system will approve the definitive cessation of operations.
Currently, ceasing business operations starts electronically on the AADE digital portal, but requires an auditor to verify the conditions. The new system will automate this verification, eliminating the need for human intervention.
Source: tovima.com
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