Legal and tax aspects to consider in the incorporation and operation of companies

When setting up a company, whether it is a limited company, a public limited company, a cooperative or another type of legal entity, it is important to take into account various legal and tax aspects that may influence its correct operation and the relationship with the competent authorities. Below are some of the most relevant aspects to consider in this process:

Constitution of the company

To set up a company, it is necessary to carry out various legal procedures, such as drafting the articles of association, registering in the corresponding Commercial Registry, obtaining a Tax Identification Number (NIF) and electing the administrative and representative bodies of the company.

Legal aspects

It is important to comply with all legal obligations established in current regulations, such as the presentation of annual accounts, the convening of general meetings of shareholders, compliance with tax and labor obligations, among others.

Tax aspects

Regarding tax aspects, it is important to take into account the company's taxation, the taxes that must be declared and paid, the way of filing tax returns, among other relevant aspects to guarantee the correct tax management of the company.

Operation of the company

Once the company has been established, it is necessary to keep all legal and tax aspects up to date, as well as carry out proper administrative and financial management to ensure its proper functioning and avoid possible sanctions for non-compliance with current regulations.

Frequent questions

What is the difference between a limited company and a public limited company?

The main difference between a limited company and a public limited company is the liability of the partners. In a limited company, the liability of the partners is limited to the capital contributed, while in a public limited company the liability of the shareholders is limited to the value of their shares.

What taxes must a company pay?

A company must pay corporate tax, VAT if it carries out activities subject to this tax, personal income tax if it has employees, among other taxes that may be applicable depending on the activity carried out by the company.

What are the main legal obligations of a company?

Some of the main legal obligations of a company are the presentation of annual accounts, the convening of general meetings of shareholders, liquidation and tax declaration, among other aspects that vary according to the type of company and the current regulations.