Company liquidation report

The liquidation report of the enterprise is an important document confirming the termination of the activities of the enterprise and the compliance of the financial statements with the legislation. A timely and correctly prepared report gives a number of advantages:

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✅ Regulatory compliance— ensures that the liquidation of the company is carried out in accordance with the requirements of the legislation.
✅ Financial transparency— certifies that all assets and liabilities have been properly settled.
✅ Avoiding legal problems— precisely drawn up documents prevent possible future sanctions or uncertainties.
✅ Security for creditors and partners— certifies that the undertaking's obligations have been fulfilled.
✅ Timely tax closure— ensures correct tax accounting and exclusion of the company from the registers.

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What are the main types of liquidation statements?

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In Latvia, companies are required to prepare various reports in the liquidation process, including:

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✅ Closing financial statements— includes the balance sheet, the profit and loss statement and an explanation of the financial position of the company.
✅ Accounting for creditors and debtors— an overview of all outstanding payments and debts.
✅ Tax closure report— submit to the State Revenue Service (VID), certifying that taxes have been paid.
✅ Report of the liquidator— a document confirming the execution of all necessary actions.
✅ Company Registry Application— the documentation necessary for the completion of the liquidation process.