Get free access to
Our legislation updates make it easy for you to keep on top of the latest changes affecting your business. Receive our articles, opinions, tips, industry news, country profiles, regional overviews and studies, latest events and even more, directly into your mailbox.
Check out our Newsroom to see what is included!
We will send you only relevant information we consider may be of your interest and treat your personal data in compliance with our Privacy policy and GDPR statement.
Unable to subscribe? Try this page.
We would like to inform you about the corporate obligations related to the end of the financial period. These include the following:
The annual financial statements must be discussed and approved by the general meeting of the company no later than six months from the end of the financial period. If the financial period ended on 31 December 2024, the financial statements must be approved by 30 June 2025.
Alongside the financial statements, a proposal for profit distribution or loss settlement must also be presented to the general meeting. The actual decision on the distribution of profit or other own resources lies with the statutory body. Before adopting such a decision, the so-called balance sheet and insolvency tests must be conducted to determine whether the distribution of profit is permissible. The relevant documents, incl. the financial statements and, where applicable, the annual report, must be filed in the Collection of Deeds no later than 12 months after the balance sheet date.
For medium and large accounting units, the proposal for profit distribution or loss settlement is a mandatory part of the financial statements notes. If this information is included in the notes, it is not necessary to prepare a separate resolution on profit distribution or loss settlement.
If a company fails to file its annual or extraordinary financial statements in the Collection of Deeds for at least two consecutive financial periods, and at the same time the Registry Court is unable reach the company, the company may face a procedural fine (which can be imposed repeatedly) or eventually dissolution without liquidation.
In this context, we also recommend checking whether the company’s beneficial owner is duly registered in the Register of Beneficial Owners and whether the entry reflects the current situation. Otherwise, according to the Act on the Registration of Beneficial Owners, voting rights at the general meeting may be suspended, or the distribution of profit may be prohibited.
We would be happy to assist you with these obligations and the preparation of the necessary documentation. Please don’t hesitate to contact us.
About Accace
Accace is a proactive consultancy and outsourcing partner who bridges the gap between needs and solutions. Combining smart and streamlined technology with a holistic approach, we provide an all-round care to clients and consider their matters as our own. With over 800 experts and approximately 2,000 customers, we have vast experience with facilitating the smooth operation and growth of small to large-scale, global businesses.
About Accace Circle
Accace operates internationally as Accace Circle, a co-created business community of like-minded BPO providers and advisors who deliver outstanding services with elevated customer experience and erase the borders of service delivery. Covering over 60 jurisdictions with more than 7,000 professionals, we support over 80,000 customers, mostly mid-size and international Fortune 500 companies from various sectors, and process at least 800,000 pay slips globally.
