Depending on size and legal form, certain financial data such as balance sheets, notes, etc. must be disclosed or filed in the Federal Gazette. Anyone can find out about the data disclosed in the electronic company register the electronic business register.
If disclosure is not made within 12 months of the end of the financial year, severe fines are imposed after a short reminder period. For non-capital-market-oriented companies, these range between €2,500 and €25,000 and can be imposed several times until disclosure has been made. In the case of capital market-oriented companies, fines of up to €10 million or 5% of total annual turnover or twice the economic benefit derived from the failure to disclose. The Federal Office of Justice is responsible for this.
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