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    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.