TAX TIPS TO PASS THE CRISIS
Wednesday, February 17, 2010 @ 8:48 PM
As companies in the construction sector know, but not only them, when they were subcontracted by the developer or by the principal contractor in order to get their invoices dully paid, it is necessary to hold the certificate of the Tax Office stating whether or not they are current on their tax obligations
The problem is that with the current crisis, many of these subcontractors are in a situation of meeting of creditors or insolvency proceeding, and also owe money to the Tax Office, so that they can not get paid from their clients because they do not have the certificate of the Tax Office certifying the absence of debt.
In this situation they enter a vicious circle, I am in a situation of insolvency, but I can not get paid from my clients because I do not have a positive certificate.
The Spanish Tax Office, through its Department of Revenue has reached a compromise to avoid these situations clearly unfair:
Client companies of subcontractors in insolvency proceedings are allowed to pay to their suppliers in insolvency proceedings when those two conditions are met:
1. Holding the certificate of the Tax Office, albeit negative, that is, even if it states that the supplier has outstanding debts with the Tax Office.
2. The order to pay these suppliers in the insolvency situation, comes from the Commercial Court that is supervising the proceedings.
A relief for these companies placed in insolvency proceedings that will be able to improve their cash-flow situation and face their own debts.
Serveco Asesores.
Antonio Robles Jara