Q:
A:
Submitting financial reports to Business Registers Agency necessary
Belgrade,
3 February 2006
Director of the Business Registers Agency Dragisa Okolisanov said today that the economic entities required by law to submit annual financial reports to the Tax Administration and the Solvency Centre of the National Bank of Serbia will have to submit them to the Agency as well by February 28.
Dragisa Okolisanov at today's press conference
Okolisanov said at a press conference that according to the Law on registration of economic entities, as of January 1 the Agency is required to receive annual financial reports, i.e. balance sheets of economic entities for the previous year.
As opposed to the Solvency Centre and the Tax Administration, the Agency will only receive those reports and register them, but shall not examine them, Okolisanov said, adding that the Agency will do that at the directive of the European Union.
He said that part of the data from the financial report will be joined to the data on a company or an entrepreneur on the Agency's website. He specified that the data that will appear on the website are the total income, total expenditure, total gain or loss, and the value of the company's assets and liabilities.
According to Okolisanov, complete financial reports of a company will be archived at the Agency and will be available to all interested parties, which will terminate the confidentiality of these documents.
He pointed out that an economic entity that fails to submit a financial report to the Agency will bear the same legal consequences as if the report were not submitted to the Tax Administration or the Solvency Centre of the National Bank of Serbia.
As opposed to the Solvency Centre and the Tax Administration, the Agency will only receive those reports and register them, but shall not examine them, Okolisanov said, adding that the Agency will do that at the directive of the European Union.
He said that part of the data from the financial report will be joined to the data on a company or an entrepreneur on the Agency's website. He specified that the data that will appear on the website are the total income, total expenditure, total gain or loss, and the value of the company's assets and liabilities.
According to Okolisanov, complete financial reports of a company will be archived at the Agency and will be available to all interested parties, which will terminate the confidentiality of these documents.
He pointed out that an economic entity that fails to submit a financial report to the Agency will bear the same legal consequences as if the report were not submitted to the Tax Administration or the Solvency Centre of the National Bank of Serbia.
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