Intersections around the financial and administrative profile of businesses are accelerating, as the interface between the Independent Public Revenue Authority (AADE) and the General Commercial Registry (GEMI) will be operational in the current month.
The interconnection will enable the audit services to obtain data on all changes in the status of each company, from the start of its operations and tax obligations to shareholder changes.
With the access that AADE obtains to GEMI, all companies that have not submitted tax returns although they have started operations in the register will be identified as well as cases of companies with inaccurate data on turnover and profits in order to avoid paying income tax.
The new regime does not require to submit a declaration of changes in the register of joint-stock companies, for changes concerning the share capital, the expiration of the term, the name, the representation and the status of the legal entity, as the data registered in GEMI will be drawn by the information systems, so that the tax register is automatically updated.
