of June 25, 2012 No. 11180/6/15-1415
About consultation provision
The State Tax Service of Ukraine considered the letter concerning forming of the income in case of reduction of the authorized capital and reports.
According to item 1 of Art. 144 of the Civil Code (CC) the authorized capital of limited liability company consists of deposits of his participants. The size of the authorized capital equals to the amount of cost of such deposits.
According to item 3 of Art. 144 of group of companies the authorized capital of limited liability company is subject to payment by members of society before the termination of the first year from the date of state registration of society.
If participants before the termination of the first year from the date of state registration of society did not bring (not completely made) the contributions, general meeting of participants accepts one of such decisions: about reduction of the authorized capital and about determination of procedure for redistribution of parts in the authorized capital.
The item 4 of Article 144 of group of companies provides that if after the termination of the second or each following financial year net assets value of limited liability company appears less from the authorized capital, society shall declare reduction of the authorized capital and register corresponding changes to the charter in accordance with the established procedure if participants did not make the decision on introduction of additional deposits.
Reduction of the authorized capital of limited liability company is allowed after the notification according to the procedure, established by the law, all his creditors. In this case creditors have the right to require early termination or accomplishment of the corresponding obligations of society and compensation of losses by it (item 5 of Art. 144 of group of companies).
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