Germany: liability of tax consultant for late filing

The German Federal Court of Justice, in a decision on 6 June 2013, has held a tax consultant liable for the consulted company filing late for insolvency.

The German insolvency law forces the manager of a private limited company to file for insolvency when the company is overindebted within the meaning of insolvency law. He is personally liable to the company’s creditors represented by the insolvency administrator, when the company has lost further assets because of continuing the business despite the company’s overindebtedness.

The German Federal Court of Justice has recently ruled that the company’s tax consultant is also liable to the company’s insolvency administrator, when a manager files late for insolvency due to a wrong statement of the tax consultant on the company’s overindebtedness…

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