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Annual accounts: presentation or fine

We start the year in our blog. In Verum, we face 2017 with the vision of wanting to be –

We start the year in our blog. In Verum, we face 2017 with the vision of wanting to be – or continue to be – a reference partner for your company. A 2017 in which from day 1 the focus is to try to make the most of each step you undertake. A 2017 with many plans, but that cannot start without complying with the obligations of 2016. Of the most immediate to undertake in the case, it is undoubtedly the presentation of the annual accounts in the Mercantile Registry. If you want to avoid an important fine, of course.

what happens

First of all, it is necessary to remember that all companies are obliged to present, within one month since the celebration of the General Meeting, the annual accounts in the Mercantile Registry. This obligation aims to provide a certain transparency to the economic system, since in a very simple and economical way, any person can download the annual accounts of any company and see their activity.

Therefore, since last July, the Institute of Accounting and Audit of Accounts (ICAC) has initiated sanction files for some societies that have breached the obligation to deposit annual accounts in the Mercantile Registry .

what can happen

Well due to ignorance, inactivity, inexperience or even arbitrariness, this fact involves fines that range between 1,200 and 60,000 euros by ICAC himself, in accordance with the provisions of article 283 of the Capital Companies Law. In addition, depending on the size of the company, the amount can be increased, and for those companies that have a turnover of more than 6 million euros, the amount may increase to 300,000 euros for each year of delay. P>

The obligation for capital companies to deposit their annual accounts in the commercial registry corresponding to their registered office, in addition to the possible consequences in the case of breaching this obligation, are found in articles 279 – 284 (both inclusive) of the Law of Capital Societies, approved by RDL 1/2010, of July 2.

The commercial registration sends the ICAC annually a relationship of breaches, therefore, the detection of any infraction is inevitable. The sanctions imposed to date are calculated as follows:

The sanction will be 0.5 ‰ of the total amount of the active parties + 0.5 ‰ of the sales figure of the entity of the last statement to the Tax Administration, whose original must be submitted. < /p>

with a subsidiary character- if the required tax declaration is not provided- the sanction is quantified in 2% of the share capital according to the data worked in the Mercantile Registry.

In the event that the Tax Declaration is contributed, and the sanction resulting from applying the aforementioned percentages to the sum of the asset and sales items are greater than 2% of the capital, the latter will apply reduced by 10 % -We suppose that in mind that the duty to provide the data has been fulfilled -.

Within the aforementioned framework, there is also a significant point, and that is what is provided in article 282, when the company enters into conflict with the provisions of the law in this regard, it will be denied access to the Mercantile Registry Until you solve your situation, which is a negatively important blockade.

how to avoid it

We return to one of the key points of the Capital Societies Law, specifically at 279.1, which is what the necessary documents are established to comply with this obligation:

– Certification of the Board of Board of Approval Partners of said duly signed accounts.
– Certification of results application agreements.
– A copy of each of the consolidated accounts, given the case.

Thus, in accordance with the general tendency to address the shareholders’ boards around the middle of the year, it is convenient to take this aspect in mind for the case, correct it as soon as possible, given that the commercial registry is a key element for the Business activity Mercantile advice from .


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