Austria: disclosure of the annual financial statements

Pursuant to article 277 of the Company Law the legal representatives of corporations and private companies without an individual with a personal liability have the obligation to disclose their annual financial statements consisting of notes, management report, auditors’ report, proposal/ decision regarding the appropriation of earnings, and the supervisory board report with the companies’ register within nine months of the balance sheet date.

For corporations with the balance sheet date on 31 December the deadline for the disclosure of the annual financial statements has expired on 30 September. In general the disclosure has to be made electronically. Companies with a turnover in the previous 12 months of up to 70,000 euro may file the annual financial statements with the companies’ register also on paper.

If the disclosure of the annual financial statements is delayed beyond the last day of the deadline fines of 700 euro will be automatically applied without any advance notice to every managing director/board member and company.Alessandro Pasut

To have a consultation by Alessandro Pasut, expert in establishing economic relations between Italy and Central Europe click here.


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