VID gathers liquidation closing-statement rules into one guide

A company being liquidated under the Komerclikums procedure draws up a likvidācijas slēguma finanšu pārskats and a plan for distributing the remaining property, fixing the liquidation quota, once creditors have been satisfied or the money due to them deposited and the liquidation expenses covered (Komerclikums, Article 328(1))Likumi. The closing statement is prepared only after all liquidation actions are complete, creditors satisfied or their money deposited as the law requires, liquidation expenses covered, and every obligation to the state settled — all tax declarations and reports filed and all taxes and other budget payments paid, including liabilities whose payment date has not yet arrived. Under the Grāmatvedības likums (Article 21(1)), a company ending its activity prepares a slēguma finanšu pārskats consisting of a balance sheet and a profit-or-loss account or equivalent operating-result report.VID Where the Gada pārskatu un konsolidēto gada pārskatu likums (Articles 91 and 92) so requires, the closing statement is subject to audit or limited review.VID It is drawn up under the annual-accounts rules applicable to that company: equity other than the current-year result is combined into one correspondingly named item, “Likvidācijas kapitāls”, so that equity consists of “Likvidācijas kapitāls” and “Pārskata gada peļņa vai zaudējumi” (Ministru kabineta 2015.gada 22.decembra noteikumi Nr.775, point 284). The asset side shows whatever property remains after creditors are satisfied, deposits made and expenses covered (point 285)Likumi, and the “Likvidācijas kapitāls” liability item carries the matching amount due to the members, which is the basis for the distribution plan and the liquidation quota (point 286). The closing statement covers the period from the start of the reporting year until the company has fully ceased activity and satisfied its creditors.VID Where liquidation spans several years, each reporting year gets the liquidated company's financial statement with the same components as before liquidation began, and the final year gets the likvidācijas slēguma finanšu pārskats of balance sheet plus profit-or-loss account.VIDVID A closing statement for a part-year filed while liquidation continues is treated by the State Revenue Service as incorrect: it must be cancelled and replaced with the liquidated company's statement for the full reporting period.VID

Once approved, the closing statement is filed within one month in the Valsts ieņēmumu dienesta Elektroniskās deklarēšanas sistēma (EDS) under the procedure of the Gada pārskatu un konsolidēto gada pārskatu likums (Article 97(1)).VID In EDS, under the “Gada pārskati” document group, the reporter selects the “Uzņēmumu gada pārskats” type — the same type used for ordinary annual accounts — and in the “Uzņēmuma gada pārskats” section, at the basic information, point 7 “Likvidācijas slēguma bilance” is marked.

A taxpayer ending its activity through liquidation during the reporting year files a corporate income tax declaration for the last tax period.VID The declaration for the last month of the reporting year for which the closing balance sheet was drawn up, together with that year's closing balance sheet and profit-or-loss account, is filed and the calculated tax paid no later than the 20th date of the month following the month in which the extraordinary (closing or liquidation) balance sheet was approved (Ministru kabineta 2017.gada 14.novembra noteikumi Nr.677, point 110). Legal basis: Komerclikuma 328.pants; Grāmatvedības likuma 21.panta pirmā daļa; Gada pārskatu un konsolidēto gada pārskatu likuma 91., 92. un 97.panta pirmā daļa; Ministru kabineta 2015.gada 22.decembra noteikumu Nr.775 284.–286.punkts; Ministru kabineta 2017.gada 14.novembra noteikumu Nr.677 110.punkts.