Individual companies are required to prepare financial reports. Financial reports are reported to the Minister by filling in the electronic report submission format no later than 6 (six) months after the end of the current accounting period. The format for submitting financial reports contains the Statement of Financial Position, Profit and Loss Report and Notes to the current year’s Financial Statements.

The Minister issues proof of receipt of financial reports electronically after the applicant fills out the form. Individual companies that do not submit financial reports are subject to administrative sanctions in the form of written warnings, termination of access rights to services, or revocation of legal entity status. Provisions regarding procedures for imposing administrative sanctions are regulated by a Ministerial Regulation.

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