Why do you need an annual report when your business license is cancelled?

No annual report is required for cancellation of business license.

If the hotel does not want to continue to operate, it must go to the original industrial and commercial bureau for cancellation of business license registration; Once the business license is cancelled, there is no need to declare the annual report. According to the Regulations on Enterprise Information Publicity, business license holders are required to submit annual reports every year. If an enterprise fails to cancel its business license and submit its annual report as required, it will be listed in the business exception list, which will have a bad influence on the credit of the business owner. Therefore, canceling the business license in time is a legal step to terminate business activities and an important measure to avoid unnecessary credit damage.

Annual reporting obligation of business license:

1, annual report time: the annual report will be publicized from June 30th to 1 to 1 every year;

2. Contents of the annual report: including the basic information of the enterprise, shareholders (investors), capital contribution, assets, etc.

3. Publicity platform: publicize the annual report through the national enterprise credit information publicity system;

4. Consequences of not reporting the annual report on time: it will be included in the business exception list, which will affect the credit of enterprises;

5. Exemption from annual report: For enterprises that have gone through cancellation procedures, it is no longer necessary to perform annual report obligations.

To sum up, canceling the business license in time is a legal step to terminate business activities and an important measure to avoid unnecessary credit damage.

Legal basis:

Regulations of People's Republic of China (PRC) Municipality on the Administration of Registration of Market Subjects

Article 33

Market participants have not incurred creditor's rights and debts or have paid off creditor's rights and debts, and have not incurred or settled settlement fees, employees' wages, social insurance fees, statutory compensation and tax payable (late fees and fines), and all investors have promised in writing to bear legal responsibility for the authenticity of the above situation, they can go through the cancellation of registration in accordance with summary procedures. The market entity shall publicize the letter of commitment and the application for cancellation of registration through the national enterprise credit information publicity system for 20 days. If no relevant departments, creditors and other interested parties raise objections during the publicity period, the market subject may apply to the registration authority for cancellation of registration within 20 days from the date of the expiration of the publicity period. Individual industrial and commercial households in accordance with the summary procedures for cancellation of registration, do not need publicity. The registration authority will push the application for cancellation of registration of individual industrial and commercial households to the relevant departments such as taxation. If the relevant departments do not raise any objection within 10 days, they can directly cancel their registration. If the cancellation of a market entity is subject to approval according to law, or if the market entity is revoked its business license, ordered to close down, revoked or listed in the business exception list, the simple cancellation procedure is not applicable.