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.
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.