Procedure for liquidating a company Yahoo mom son sex chat

Posted by / 14-Feb-2020 15:01

Procedure for liquidating a company

In the event that such a distribution takes place during the period of two months, prior approval of the appropriate district court is required in order to make such distribution.Since the possibility exists that the assets distributed in advance may have to be (partly or wholly) recovered to effect a redistribution (see below), an "accelerated liquidation" is only warranted if (1) the liquidator has reason to assume that all creditors are known to him, (2) the beneficiaries of the final balance of the company are few in number, and (3) the beneficiaries ensure, for instance by way of a guarantee, that they will restitute (part of) the distribution in advance if a creditor still comes up or opposition is still (successfully) instituted.To the extent the participation exemption applies, a gain or loss on the shares in qualifying subsidiaries is tax exempt.Accumulated tax losses or tax credits will usually vaporize upon liquidation.The Trade Register of the Chamber of Commerce must be notified of the termination of the liquidation procedure, and of the name and address of the custodian of the corporate books and records.

The following topics will be discussed: The legal procedure for the liquidation of a Dutch BV The procedure for the liquidation of a Dutch BV is described in Dutch corporate law and specified in the company's Articles of Association.However in daily practice the liquidation of a BV may become burdensome and time consuming, in particular if the financial position of the company is not clear at the moment of liquidation or if there are more shareholders which are entitled to a stake in the companies assets/ liabilities.Also the tax aspects of the liquidation may be a complicating factor.The company's books and records will remain stored with the custodian for a period of seven years.The Dutch tax implications of the liquidation of a BV For Dutch tax purposes the liquidation of a BV is treated like a deemed sale: the assets/liabilities of the company must be revaluated at their fair market value at the moment of liquidation and a subsequent gain or loss must be included in the company's taxable profits in the year of liquidation.

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