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Posted by on 28 Jun 2012. Filed under Business, Legislation, Top news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Tax Office To Prevent New Companies of Tax Debtors

The government plans to introduce changes to the Commercial Code that will prevent anyone who owes over EUR 170 in taxes or customs from being able to set up a new LTD company.

No company for tax debtors

The law looks set to change on 1 October 2012, with another aspect being that you will need the tax office’s consent when transferring shares in a company, for both the old and new shareholders. The new rules effectively give the tax authority power over the establishment or transfer of companies, according to the company Accace.

The new regulation could cause a hitch or long delays for company registrations, as a formal deficiency of the proposal is the term by which the tax authority should deal with requests.

The tax obligation has its exceptions, though, like in the case of fusions, and for certain foreign entities, which are to provide a written declaration instead.

1 Comment for “Tax Office To Prevent New Companies of Tax Debtors”

  1. Dave Crawford

    A good move but why only tax debt?
    A person with any undischarged debt should not be allowed to form a company, neither should their immediate family.
    One local scroat has based his life around forming numerous companies, buying goods and services through one, selling them through another but not paying for them. He did this for years until they finally caught up with him but then is son took over, and they did the same, then the sons’ wife and now the mother. The family owe money all over the region as a result of years of scams but because the wife is “clean” they can continue. They have even tried getting people who work for them to act as “white horses” in their activities.

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