IN SHORT

"Dead" firms to be erased

APPROXIMATELY one quarter of all companies in the district of Bratislava are "dead", meaning they do not conduct any business activity, according to the Hospodárske noviny business daily.

Around 4,500 out of an estimated 6,000 non-active firms have already received notice from the business registry to file all necessary documentation otherwise they will be permanently erased from the register of businesses.

According to the executive director of the Business Alliance of Slovakia, Robert Kičina, dead firms are mostly those whose business activities have turned out to be unsuccessful.

"However, the corporations were not erased from the register by their owners simply because it is administratively too complicated," added Kičina.

The relevant court can and will get in touch with the tax offices, customs office and land register, to find out if the firm owns any assets. If not, the firm will be erased from the register.

The Bratislava business register believes that it will be able to "clean" its register by the end of 2005.

However, some professionals warn that some firms might use this as a way out from their business debts and responsibilities. However, the experts don't believe this will be a widespread problem.

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