Liquidation of a company means the complete cessation of activity without transferring its rights and obligations to other persons.
Elimination may be both - voluntary and compulsory. Liquidation is considered voluntary if the decision is made by the participants or the authorized agency. There are many possible reasons: loss-making, change of a sphere of activity, achievement of initially set goals. Forced liquidation is carried out by court order.
The liquidation process, unlike many others, is especially long (from a month to a year). If you decide to liquidate your organization, keep this in mind.
It is extremely difficult to independently carry out the liquidation procedure. It is worth remembering that the liquidation of a company often serves as a reason for a tax audit.