2024-06-09 00:08:56
Restrictions on delinquency from 2019 to March 2023
“Failure to pay taxes has no impact on an organization’s skill to contract”
Concerning the report that Act Geo, an American firm that analyzed oil and fuel deposits close to Yeongil Bay in Pohang, was ‘disqualified from being an organization’, Korea Nationwide Oil Company, which was accountable for the evaluation, mentioned on the eighth, “The flexibility to behave was solely partially restricted on account of delinquent company enterprise tax.” He defined.
The Korea Nationwide Oil Company issued a press launch on today and said, “Act Geo was restricted from January 2019 to March of final yr, however its company character was maintained.”
On the similar time, “In such a state the place among the skill to behave is restricted, jurisdiction is restricted and company debt is transferred to shareholders, and many others., however contracts may be concluded in accordance with Texas regulation,” and “non-payment of taxes doesn’t have an effect on the company’s skill to contract.” did.
He continued, “Act Geo’s authorized character has been maintained repeatedly since January 2019,” and “All of its skill to behave has been restored retroactively to January 2019, when a few of its skill to behave was restricted as delinquent taxes have been paid in full in March of final yr.” He added.
As well as, he mentioned, “Act Geo has been finishing up regular enterprise actions, together with making company disclosures yearly since 2019,” and added, “We’ve got additionally signed a number of contracts with firms exterior america.”
Beforehand, a media outlet reported that Act Geo was disadvantaged of its company standing in February of final yr. The reason is that the reason being that the enterprise tax return was not submitted or the state enterprise tax was not paid, and because of this, the executive disposition of ‘disqualification’ was obtained.
Act Geo is an organization specializing in deep-sea know-how analysis that analyzed the world close to Yeongil Bay in Pohang and raised the opportunity of oil and fuel reserves. In line with stories, which means the company’s registration had been canceled on the time the Korea Nationwide Oil Company entrusted the evaluation to Act Geo. Actgeo is a restricted legal responsibility firm established in Texas, USA in 2017.
To this point, controversy has been raised about Actgeo’s reliability on account of the truth that its headquarters is in a personal dwelling and that it’s a privately run firm with solely 2 to 10 workers. Accordingly, Actgeo Advisor Vitor Abreu visited Korea in individual and held a briefing on the Authorities Complicated Sejong on the seventh. He emphasised that he had recognized seven promising buildings, and that the success fee was 20%, which confirmed nice promise, and that each one that was left was drilling.
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2024-06-09 00:08:56