How to publish financial statements through the tax office?
Thanks to the amendment to the Accounting Act, from 2022 you can ask the tax office to forward your company's financial statements to the registry court, which will publish them in the collection of documents. Would you like to take advantage of this possibility and make your work easier? Find out how to do it.
What are the financial statements and who must publish them?
Financial statements normally include a balance sheet, income statement (profit and loss account), cash flow and changes in equity statements and a note. It must be published in the collection of documents by entities registered in the public registers, especially the commercial register, and therefore the obligation applies mainly to companies.
- Micro and small entities publish the balance sheet and the notes to the financial statements on a condensed basis.
- Large entities with a statutory audit must publish an annual report and a relationship report in addition to the auditor's report.
In addition to companies, the obligation to disclose financial statements also applies to, for example, associations, associations and foundations, but they cannot take advantage of the new disclosure method. The transmission of financial statements through the tax authorities (tax office, FÚ) is intended only for commercial corporations, which include limited liability companies, joint stock companies, public and limited partnerships and cooperatives.
The novelty will therefore be appreciated mainly by micro and small companies, as they already submit statements to the tax office as part of their corporate income tax returns.
Conditions for publishing accounts via the tax authorities
First, make sure you meet the conditions for publication through the FA:
- You are filing the financial statements of a business corporation;
- you file your DPPO tax return electronically, including all attachments.
How do I get the tax office to send your financial statements to the registry court?
- Attach the form Request to transmit financial statements to the Public Registry to the tax return form. Alternatively, your accountant or tax adviser can do this for you - according to the tax office, they do not need a special power of attorney to do this.
- On the form, you fill in your ID number and the scope of the accounts, i.e. specify the documents you want to publish. Please note that it is your responsibility to check that they meet the legal requirements and are in the correct scope. The tax authority will only forward the documents as you have stated in your application - it will not check them.
- You can also request an email confirmation that the transmission of the accounts to the registry court has actually taken place. Just fill in your email address on the form.
Sample of the e-mail confirmation
In response to your request, we would like to inform you that the tax administrator, in accordance with Section 21b(6)(a) of Act No. 563/1991 Coll., on Accounting, as amended, transmitted the financial statements to the Court of Registration on ...,
to the extent requested in the application and in the annexes as attached to the corporate income tax return of taxpayer ID No ... for the tax period from ... to ... filed on ...
A request for publication of the financial statements by the tax administration cannot be made separately. If you have already sent the tax return and forgotten the request, you can use the corrected tax return and add the request to it. However, this is only possible within the deadline for filing a proper tax return.
When will the accounts be published?
You have already fulfilled your obligation to publish your financial statements when you submit your application to the tax authority, provided that you have complied with the conditions (you are a corporation, you file the DP electronically and the application is an annex to it, the statements have the required format and structure).
And when will it appear in the collection of documents? According to the information provided by the tax administration, if you meet the conditions for filing the application, it will transmit the accounts in the required format without undue delay and assumes that there will be no delay. Only the Revenue knows what this means - it does not give a specific deadline.
In any case, the FA cannot send the accounts to the registry court before the deadline for filing a tax or supplementary tax return has passed. To give you a better idea of the speed, here is an example from our practice: we sent the tax return with the request to publish the financial statements on behalf of our client in April and in September we received a confirmation from the tax office that it had forwarded the documents to the court of registry.
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