Due to the increase of the number of requests, in this newsletter we would like to share the information with you, which is useful to know if you have decided to liquidate a LLP.

Liquidation of LLP in Almaty
Tel/WhatsApp: +7 (777) 552-02-52
WWW.KAMERIR.KZ

Liquidation of LLP may occur in the following cases:

1. By the owner of the property of the legal entity (voluntary liquidation);
2. By a court judgement:

• in case of bankruptcy;
• in case of the invalidation of the registration of a LLP because of violations of legislation made in its formation;
• the absence of a LLP at its location or the actual address, as well as its founders (participants) and officers, without whom a LLP may not operate for one year;
• carrying out activities, which constitute a serious violation of the law.

Some problem issues in voluntary liquidation of LLP:

1. Not keeping the accounting records. Absence of the financial statements, or the accounting policy;
2. Not keeping the tax accounting records. Absence of the tax accounting policy, tax registers. Non-submission of the tax reports;
3. Absence of the foundation documents of a LLP;
4. Absence of the personnel documents on the director.

LLP liquidation procedure is governed by:

1. Civil Code of the Republic of Kazakhstan (article 50);
2. Tax of the Republic of Kazakhstan (articles 58, 59).

Alas, but it is quite often when, before the liquidation procedure, the accounting and tax accounting records have to be restored.

Restoring Accounting and Tax accounting records in Almaty for you, in accordance with the current legislation of the Republic of Kazakhstan
Tel/WhatsApp: +7 (777) 552-02-52
WWW.KAMERIR.KZ

To determine the complexity and estimate the time frame for the LLP liquidation, it is necessary to decide on the type of the liquidation procedure with the Tax authorities.

1. «Simplified» procedure for the liquidation. To those LLPs which:

• are not VAT payers;
• do not apply special tax regime to producers of agricultural products, aquaculture products (fish farming) and agricultural cooperatives;
• are not reorganized, or are not the legal successors of a reorganized legal entity;
• are not included in the tax audit plan or in the list of selective tax audits as a result of risk assessment measures;
• are not registered as the taxpayers performing certain types of activities in accordance with the cl.1, article 88 of the Tax Code of the RofK;

2. «Generally established» procedure for the liquidation – for all other LLPs.

In practice, the period of the liquidation of a LLP (after notifying the creditors) is between one and a half to several months.

We recommend:

In order to ensure the pain-free liquidation of your LLP (when you won’t need it anymore), one should be more attentive to the keeping the accounting and tax accounting records, as well as the foundation and personnel documents.

Along with that, you can always use any of our services: