It is specified that the cancellation of the order is explained by the need to bring the legislation into line with the amendments to the Law on Accounting and Financial Reporting. They provide for the abolition of the obligation to document the purchase of services involving the letting of property from physical suppliers on the basis of primary documents of strict reporting.
The Law also stipulates that an economic entity shall use standard forms of primary documents approved by the Ministry of Finance and other public authorities. Or it may independently develop and use forms of primary documents, provided that they are approved by the company’s management and contain all mandatory requisites. It is also important to fix these forms in the organization’s accounting policy.
Accordingly, enterprises will be able to independently develop a form of reporting, depending on the specifics of their activities and information needs.
The abolition of the joint order of the Ministry of Finance and the NBS will simplify the process of doing business and its interaction with government agencies, as well as reduce the administrative burden on enterprises, the developers of the new document suggest.
The draft is proposed for public consultations, which will last until November 11.
