In mergers, acquisitions and other structural modification operations, the procedure for analysing and verifying the tax situation of the company or companies acquired is of vital importance because of the responsibilities entailed. Our office can manage and coordinate these tax due diligence procedures, making all the necessary checks.
In corporate acquisitions, this due diligence process is particularly important since purchasing a company also entails certain fiscal responsibilities, which the purchaser must know before going ahead with the transaction.
The Spanish tax rules establish a system of joint and several liability for tax debts for persons or companies that take over, for whatever reason, in the ownership or exercise of economic operations or activities, for the tax obligations incurred by the former and derived from the exercise thereof, except for acquisitions made from a debtor declared bankrupt in the context of insolvency proceedings. This responsibility may even extend to sanctions imposed on the former owner or imposed because the Administration’s right has not yet expired.
Our office specialises in tax checks and in limiting such liabilities.
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