Paragraphs 3 and 5 of art. 40 of Royal Decree-Law 8/2020 of 17th March, on urgent and extraordinary measures to confront the economic and social impact of COVID-19 (RD-LAW 8/2020) are modified. The modification establishes that the extended three-month period to prepare the annual accounts and other legally binding documents, when the regular three-month period was interrupted by the declaration of the state of alarm, will begin to run from 1st June and not from the end of the state of alarm. This important measure transfers the specific deadline to prepare the annual accounts in 2020 from 1st June to 31st August. In any case, the preparation of annual accounts carried out by legal entities before or during the state of alarm shall be valid.
In addition, there is a reduction from three to two months to approve the annual accounts from the date of formulation, so that companies will have their accounts approved and deposited at the Commercial Registry beforehand. This period applies to all companies, whether listed or not, so that all companies that closed up to 31st December 2019 must have their accounts approved within the first ten months of this year.
Mariscal & Abogados