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Transformation of limited liability companies / PLCs / partnerships limited by shares into (tax transparent) partnerships – change as from 1.1.2015

The undistributed profits are subject to income tax (at the rate of 19%), if the non-transparent company (e.g. a limited liability company) is transformed to a partnership (which is tax transparent). As from 1.1.2015 this concerns also the profits, which have been credited to the retained earnings account.