Home Tax Who is Responsible for the public debts of Industry Trade Limited Companies?

Who is Responsible for the public debts of Industry Trade Limited Companies?

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1- Who is Responsible for the public debts of Industry Trade Limited Companies?

1.1- Partners of limited companies will be responsible for the public debts which cannot be collected totally o partially, and will be held responsible by law number 6183.
1.2- In the case that one of the partners transfers his share, the ones who take over the share or the one who transfers his share will be held responsible for paying the debt according to the related law article number 1.

1.3- When public debt has to be paid, if the people in charge are different, they would be held responsible for paying it according to the related law article number 1.

2- WHAT ARE THE RESPOSIBILITIES OF LEGAL REPRESENTATIVES IN PUBLIC DEBTS?

2.1- Public debts which cannot be collected totally or partially from the legal entities, and non-legal entities such as foundations and communities, will be collected from the people in charge according to the relate law number 6183.

2.2- This provision of law is executed for the representatives in Tukey of the companies established in abroad.

2.3- The fact that legal entities are liquidated or being in the process of liquidation, will not affect the responsibility of the legal representatives.

2.4- Representatives or people in charge are able to recede.

Source:Law Number 6183
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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