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Reduction of fine of companies that are illegal

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Next Reduction of fine of companies that violate HOME • INSIDER • BUSINESS • Reduction of fine of companies that violate

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The formula for reducing the fine imposed on companies that do not submit their financial statements has been found. The consensus reached between the Ministry of Finance and the parties stipulates that the fine of € 500 will be reduced to € 150, for companies that have not submitted financial statements in the last two years. Specifically, the draft law of DIKO, EDEK and the Ecologists (Leonidou, Myrianthous and Papadouris) provides for the amendment of the law on Companies, in order to reduce from € 500 to € 150 the maximum amount of the total financial charge that can be imposed on companies that submit their annual report to the Comptroller of Companies on time.

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Initially, the government disagreed with the bill, however, after consulting the parties with the Ministry of Finance, it was decided that the fine will be reduced to € 150 for companies that do not submit their financial statements in 2021 and 2022. In fact, it was decided to reduce fine to be valid until 2024.

According to the rapporteurs of the proposal, the legislation is necessary due to the inability to pay the imposed charges by small and medium-sized companies due to the financial difficulties due to the COVID-19 pandemic and the effects of the Russian invasion of Ukraine. In yesterday's discussion it was mentioned that there are 4 thousand companies that did not submit their annual report for 2021 to the Registrar of Companies and have paid a fine of € 500. As stated by the Legal Service, a way must be found to return the money to the specific companies. The Ministry of Finance is studying how to return the money to the companies that paid more than the fine provided by the legislation when it is approved. According to data presented to the Parliament, due to the late submission of the annual reports, fines of € 859 thousand were imposed on 7,500 companies. Specifically, from 1/6/2021 to 3/2/2022 a total of 4,708 companies paid a fee for the annual report of 2021 and 2,776 companies paid the fee for the previous year, at the beginning of 2022. Also 16 companies paid the fee charge for the 2022 annual report.

Source: www.philenews.com

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