What is the cost of liquidating a company
19-Oct-2020 11:01
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Prior to the de-registration under Article 10 taxable persons should dispose of any goods in respect of which input VAT was claimed at the market value obtained at the time.Closure of Malta bank account – before the company is struck off the register.There are 4 key stages to an MVL process: If you have determined that your company is in fact insolvent, then you will be looking for more information regarding the CVL process.This process of closing a company is a director-led process.Final Settlement System Rules – a request to the Commissioner by Malta payroll services provider is made to cancel the registration of the payer by filling in the appropriate de-registration form.
It is definitely not an easy procedure and requires in depth knowledge of the Malta accounting legislation.If you have determined that your company is in fact solvent, then you will be looking to find more information on closing a business via the MVL process.This liquidation process is most suitable for closing a company that has over £25,000 of shareholder reserves that need to be distributed.These are listed below: Income tax – the assets of the company cannot be distributed to the shareholders by the liquidator unless adequate provision is made for the payment in full of any tax which he knows about or might reasonably expect to be payable by the company.
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The Liquidator should request a tax clearance letter from the IRD (Inland Revenue Department).
In collaboration with suitable Maltese auditing professionals and liquidators, it can also coordinate the dissolution of Maltese companies in a timely manner.
