New sole proprietors of the first taxation group risk falling under increased monitoring
16 December 2024 15:35
The use of new criteria for identifying risky individual entrepreneurs is provided for in the memorandum “On Ensuring Transparency of the Banking Payment Services Market,” which was recently signed by Oschadbank, PrivatBank, Raiffeisen Bank, Universal Bank, and two banking associations: The Independent Association of Ukrainian Banks and the Association of Ukrainian Banks. This, in particular, is stated in the NBU’s report, informs
According to the signed Memorandum, the object of special attention of banks should be individual entrepreneurs who belong to the 1st taxation group and were opened less than 6 months ago. New criteria for determining risky individual entrepreneurs should be applied to them.
For such individual entrepreneurs, banks should introduce an in-depth study of business activities, namely
– the scale and type of the client’s business;
– the type of services/products for which the client applies to the bank;
– the volume of financial transactions that the client plans to conduct in the bank during the month, etc.
In the course of financial monitoring, attention will be paid to the following indicators:
– a sharp increase in the number of transactions on the account;
– zero balance at the beginning and end of the day;
– fragmentation of payments, in particular in round amounts;
– a large number of transactions on the accounts of new individual entrepreneurs;
– rapid achievement of the income threshold in 2-3 months;
– use of one payment terminal by several entrepreneurs;
– large money transfers from legal entities or other businesses;
– payment for services that are difficult to estimate.
For sole proprietors on the general taxation system or the simplified taxation system of the 2nd and 3rd groups, the client will be studied in accordance with their own risk-oriented approach.
Particular attention will be paid to schemes where medium and large businesses are divided into many individual entrepreneurs.
The memorandum also provides for the exchange of information between the participating banks on clients and their activities that contain signs of suspicion in accordance with the requirements of applicable law and NBU regulations.
Read more about how other banks that signed the Memorandum will ensure transparency of the banking payment services market,
Who belongs to group 1 individual entrepreneurs
Individual entrepreneurs in the first group of taxation may engage in retail sales of goods from market stalls and/or provide household services to the public. As a rule, such sole proprietorships are opened by employees of the beauty industry; photographers; sellers of vegetables, fruits, etc. from counters or stalls; those engaged in cleaning, childcare, repair of household appliances, watches, etc.
