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General Directorate of Taxation, Electronic Exchange of Data with National Business Center for Commercial Entities

General Directorate of Taxation, Electronic Exchange of Data with National Business Center for Commercial Entities

The General Directorate of Taxation and the National Business Center are intensifying the cooperation between them. Currently, both institutions have significantly simplified the exchange of mutual information, making it mainly electronic. This reduces the procedures, shortens the time of receipt of data, and reduces administrative costs.

Specifically, the GDT sends electronically to the NBC data on:

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  • The current tax stuation of the entities applying for derecognition.

In this way, the NCB, at the time of application, may notify the subjects of the situation regarding the obligations and the submission of declarations. However, this does not exclude the ability of the NBC to respect the deadlines set by the law for derecognition.

  • Financial statements and audit / activity reports.

NBC receives electronically the financial statements submitted to the Tax Administration.

  • Nace Codes (subject activity updated)

GDT electronically delivers NACE Codes, updated in the case of verification and ascertainment by the Tax Administration, in order to have data consistency between the two institutions.

  • Entities that have the obligation to deposit annual financial statements

The GDT provides an opportunity for the NBC to consult online if a subject is required to submit financial statements for a specified period.

The National Business Center also informs the General Directorate of Taxation about a range of data. Mostly those for the subjects that are deregistered by the commercial register, those that have applied for activation, withdrawal from suspension, start of liquidation procedures, union with absorption, division of society, transformation of society etc.

The General Directorate of Taxation remains committed to facilitating procedures as well as to provide services with as little administrative cost.

News Source: General Directorate of Taxation

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