December 2017. Re-inscription of dissolved companies due to non payment of corporate tax

Please be informed that it was recently approved an Act by which it was reformed Corporate Tax Law - Law N°9428- which is in force since last September 1st. This Act will allow the re-inscription of all of the companies which have been dissolved due to non-payment of 3 or more periods of corporate taxes during 2012-2015.

However, this re-inscription of dissolved companies is not mandatory but optional. That is, the owners of each dissolved company shall decide if they want to liquidate or to “relive” their company and in this last case, the company will keep its registered assets (vehicles and real estate), avoiding a liquidation process and transfer of such assets to third parties.

Thus, the Corporation owners who want to request re-recording of their dissolved companies before the National Registry shall proceed as follows:

  • To pay the amount due for corporate tax, before December 15th 2017.
  • To file before the National Registry a formal request to cease company’s dissolution before January 15th 2018.
  • Said request must be done by the owners of at least 51% of the capital stock by means of a public deed; once a notice of such re-inscription request has been published in “La Gaceta”.                
  • Once these companies are re-registered, they are going to be back to the status they had before their dissolution, with all the legal effects this re-inscription may have back to the date they were dissolved. 

Please let us know any further question you may have on this regard to

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