When your business decides to cease operations and move towards the final stage of being a market player, a company write-off is an essential part of the process. It is a key link for enterprises to exit the market, so we strongly recommend that business owners take the initiative to cancel their business licenses.
Importance of company cancellation
A company cancellation is not only the only way for a company to legally exit the market, but also a necessary step to protect the rights of investors and employees, and clear up legacy issues such as debt and taxes. Companies that do not cancel in time may face the risk of having their business licenses revoked, fines, or even being sued. Therefore, deregistering the company is an important task that must be completed before terminating the business.
Prepare the materials required for the cancellation of the company
Before you can deregister your company, you need to prepare some necessary information. General process cancellation company needs to provide: bank basic account complete set of information, the company complete set of information, accounting vouchers and general ledger annual financial statements, legal person ID card copy. The whole network process to cancel the company also needs: the personal U shield of the legal person and all shareholders, the copy of the ID card of the legal person and all shareholders, and the enterprise digital certificate. It should be noted that compared with company registration, deregistration is more complicated and needs to take into account more issues. When writing off the company, the tax bureau will conduct an audit of the accounts and tax, so it is required that all the financial and tax affairs of the enterprise must be normal.
Conduct the company cancellation procedure
The procedure for deregistering a company varies from case to case and includes both simple and general procedures. The simple process of cancelling the company includes: cancelling the basic bank account, cancelling the tax, cancelling the business license, cancelling the code certificate and the official seal, and finally achieve the purpose of successfully cancelling. The general process is more complex, including the change of industrial and commercial registration, tax control and invoice settlement, cancellation of national and local taxes, liquidation group filing, newspaper cancellation, industrial and commercial cancellation, public account cancellation, official seal cancellation and other steps.
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