Corporation Tax for Companies Over 5 yrs?
What is article 46, What does it mean, How does it work, I need help because I am a bit thick :Very sad:I know but old age is a :Very sad:thing

Any constructive and helpful information would be appreciated, because I am a bit worried that it is another way of ripping us Brit's off
I hope I am wrong and it is nothing to worry about

Hi, can you give more info, please? What's the problem?

I dont know what this is about either, if you are a company, which we all are, with profit you will pay 10% tax on that profit, if you are an inactive company ie nil return tax declaration you pay no tax. if this has changed would like to know what our responsibilities are now. cannot find no info about this other than the rate is set at 10%.

willowsend wrote:

Corporation Tax for Companies Over 5 yrs?
What is article 46, What does it mean, How does it work, I need help because I am a bit thick :Very sad:I know but old age is a :Very sad:thing

Any constructive and helpful information would be appreciated, because I am a bit worried that it is another way of ripping us Brit's off
I hope I am wrong and it is nothing to worry about

Can you tell us more about what it is you need to know?

Can we have more details Brian so we can try and help you? I see Nominal who is an accountant is also willing to help

Txs, Sallyann, yes we cannot help without knowing the problem, if there is a problem.
Art.46 of Corporate tax Act is not meant to collect money (especially from Brits), it says only that your tax obligation expire after 5 years. For example: if you haven't paid your taxes in 2005 and you haven't been fined by the tax office, after 5 years the Revenue agency cannot demand or claim these taxes from your company anymore. The expire period for the tax obligations is 5 years, 2 years for other administrative fines (traffic police, municipality etc.) etc. There's nothing to worry about this article, except you've been already fined by the tax office, but that probably means that your company has been active and you owe taxes indeed.

nominal wrote:

Txs, Sallyann, yes we cannot help without knowing the problem, if there is a problem.
Art.46 of Corporate tax Act is not meant to collect money (especially from Brits), it says only that your tax obligation expire after 5 years. For example: if you haven't paid your taxes in 2005 and you haven't been fined by the tax office, after 5 years the Revenue agency cannot demand or claim these taxes from your company anymore. The expire period for the tax obligations is 5 years, 2 years for other administrative fines (traffic police, municipality etc.) etc. There's nothing to worry about this article, except you've been already fined by the tax office, but that probably means that your company has been active and you owe taxes indeed.

:Thank you:nominal. You have answered my question, There's nothing to worry about this article,
As most members on this forum will know we had our villa illegally stolen and no returns were put in during those two years, so I got concerned when somebody suggested that I might get clobbered for tax, especially now that I know that the water board have threaterned to take legal action against me because I have refused to pay the water bill of 2300 leva for water consumed by the illegal occupants (perpertrators) during those two years
I hope you can understand that I am reluctant to discuss to much detail on an open forum now day's because I know there are people (aliases) out there who watch what I write and where I am. If I want any further information I will pm you if that is OK
:Handshake:ATB