Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password

You are not connected. Please login or register

Nonoperating Companies

Go down  Message [Page 1 of 1]

1 Nonoperating Companies on Thu Nov 14, 2013 3:55 pm


Arresto Menor
Hello, I am an accountant of several non-operating companies and I would like to know if there are any legal issues with it.
These corporations pays its local taxes annually, files its tax returns (no operation) regularly and files its audited FS.
These companies have no income except for a small interest but it has taxes and audit fees which result to capital deficiency.
I don't know why these are not yet closed however, is there any issue with this?
I have read that non-operation for 2 years since incorporation can be a ground for revocation. Does it qualify under this rule?
Or if not, are there any other laws, regulations or rulings which is relevant for me to know?

View user profile

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum