Closing a business - tax aspects

Obligations

  • Submitting a final report to the income tax
  • Closing the VAT case
  • Settlement of social security debts
  • Report on the sale/liquidation of assets
  • Document retention 7 years

Stock sale

The sale of inventory upon closing a business is considered business income (not capital gain) and is subject to normal tax.

Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.