Holding companies and other so-called "letterbox companies", which mainly collect passive income without a real economic presence, have been in the crosshairs of the European Union for quite some time. The draft directive published by the European Commission on 22 December as a kind of Christmas present could complete this process.
A position statement issued at the end of last year in response to an accounting question is now coming sharply into focus for the first time. According to the statement, all holding companies are subject to an auditing obligation. Or are they?
The law is constantly in flux. While many people may find this intimidating, for us it’s precisely what makes it so exciting. We’d like to share this attitude with businesspeople and managers, and with those who just have an interest in business law, in the form of a regularly updated blog that discusses the latest tax law and commercial law issues in an accessible style. Feel free to send your questions and suggestions for topics you’d like us to cover to blog@jalsovszky.com.
