The obligation to publish their financial statements in GEMI is abolished for private companies

Another amendment to the existing legislation is made by a provision in the draft law, which was submitted for discussion and voting in the Parliament by the Ministry of Development and Investments, this time, for the benefit of personal companies (sole proprietorships, limited partnerships, but also sole proprietorships), facilitating in this way small and medium entrepreneurship.

With a draft law submitted to the Parliament by the Ministry of Development and Investments, among other provisions, the obligation for the registration and publication of their annual financial statements in the General Commercial Register (G.E.M.) is abolished for the defined personal companies. situations.

In particular, with the intended regulation, article 34 of Law 4919/2022 is amended, which provides for personal companies, the additional information, which they must publish in the G.E.MH., among which in c. 1a) of this article, their annual financial statements are also mentioned, as long as the circumstances of para. b) and c) of par. 2 of article 1 of Law 43408/2014 (Government Gazette A’ 251) on the implementation of Greek accounting standards. It is noted that case c of the above article of Law 4308/2014 concerns personal companies (general and limited partnerships, but also sole proprietorships).

As noted in the relevant explanatory statement of the provision of the draft law to be voted on, with the relevant regulation a legal technical correction is made to paragraph k of paragraph 1 of article 34 of Law 4919/2022 (Official Gazette A’ 71), in order remove disproportionate obligations for small businesses to publish financial statements, given that the imposition of these obligations was never the true will of the legislator.

Thus, with the proposed regulation, paragraph c of paragraph 2 of article 1 of Law 4308/2014, which is incorrectly mentioned in the provision of paragraph k) of article 34 of Law 4919/2022, is deleted, resulting in the publicity obligations that are provided for personal companies, in GEMH. that their obligation to publish their financial statements no longer exists, saving valuable time and avoiding inconvenience and unnecessary bureaucracy, as with the existing form of the article, every limited and sole partnership is obliged to register annual financial statements in the General Commercial Register , as well as sole proprietorships, while the relevant obligation remains for the companies of para. a and b of par. 2 of article 1 of Law 4308/2014, i.e. for the anonymous, limited liability companies, private capital companies, limited liability companies, but also for legal entities that have the form of a general or limited liability company, when all the direct or indirect partners of these entities have limited liability due to the fact that they are either legal entities of case a’ of the paragraph 2 of article 1 of Law 4308/2014, or another legal type comparable to the legal entities of this case.

Source: Capital

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