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Circular by the Tax Department in relation to companies that are dormant or for which communication has been lost with the UBO’s.

The Circular advises that the Tax Department will consider providing consent to the strike-off application for companies which:

·        are dormant (no activities), or every communication has been lost with the owners/ubo’s;

·        have not fulfilled their obligations with the Tax Department; and

·        wish to be deleted from the register of the Registrar;

 

Provided the service providers of the said companies will proceed to the following steps in order to support the process:

  • the service providers submit the relevant returns (Income Tax Return Form or and VAT Form) on behalf of the said companies for all the years for which it is feasible to do so; and
  • the service providers submit to the Tax Department by 31 March 2019, the applicable forms, namely, the T.D163A_ DOR 2018 (for all dormant companies) and IR.163A_ CONT 2018 (for companies for which communication has been lost), setting out certain required information for the companies, including:

·                 identifying details about the resignations of the director(s) and the ultimate beneficial owner(s); and

·                 confirmation that certain documents held by the service provider are available for inspection by the Tax Department.

 

If the service providers fail to comply with the requirements of the Tax Department, the later will continue the objection to the strike off application and will take such legal measures as it finds appropriate and according to the applicable law.


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