Maintaining proper accounting and traceability in P2P (Person to Person) operations is essential for the following key reasons:

• Protection against bank account blocks: It allows you to demonstrate to financial institutions and regulatory bodies that the funds entering and leaving your accounts come from lawful commercial transactions. This helps prevent precautionary account blocks by the banking system.

• Tax support before the SENIAT: Serves as mandatory documentary evidence to justify bank transactions before the tax administration. It facilitates the fiscal information cross-check required during an audit.

• Correct calculation of net profit: Accurate accounting shows that taxes such as ISLR are calculated exclusively on the actual profit obtained. This prevents tax from being incorrectly paid on the total gross volume moved through bank accounts.

• Prevention of sanctions and fines: Keeping formal accounting records avoids the severe sanctions established by the Organic Tax Code (COT) for omission of income. These fines can range between 100% and 300% of the omitted tax.

• Legal and asset protection: Applying proper accounting standards grants legal validity and transparency to the assets generated through cryptoassets.