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Legal & Finance
Association of economic interest
By: Tómas Ballestero
Occasionally, a businessman may come across a good business opportunity that he is unable to take up either through lack of means or knowledge of the market.
Very often, to remedy this situation he decides to approach other complementary companies. One clear example of this type of company co-operation is an ‘export consortium’, through which a group of businessmen decide to join together to enter the outside market.
In effect, constituting a new entity that acts under its own name but is run by the members thereby sharing the costs incurred.
Another example of company co-operation is the case of manufacturers of different products joining together to form a company to access particular clients.
In order to create these associations of companies the appropriate legal format must be adhered to bearing in mind the type of association that is required and even the proposed period of time that the co-operation will be maintained.
In certain cases, it is not always appropriate to form a trading company, public or limited, due to their inflexibility and concept of permanency.
Therefore, under these circumstances, it is more convenient to form an Agrupación de Interés Económico - Association of Economic Interest - which is defined as follows:
Agrupaciones de Interés Económico (AIE) are legal trading companies formed by individuals or legal entities and are created to facilitate the development and improve the results of the members' activities.
AIEs do not gain profit in themselves, as the object is to act as an economic support to the businesses carried out by its members.
Members of an AIE are individually and jointly responsible for any debts incurred by the association.
The name of the association, which cannot be the same as any other existing association or company, must include the term Agrupación de Interés Económico or the initials AIE.
The AIE must be registered with the Company Registry, and the names of the members need to appear on the association's deeds together with the social capital, if it exists, the portion corresponding to each member, its name, purpose, company address, the administrator and any other agreements established.
Tax
AIEs pay tax on visible earnings and the tax situation differs to that of other companies.
AIEs do not pay company tax on the taxable rate attributed to its members resident in Spanish territory.
Positive and negative taxable rates are applicable.
Therefore, the positive and negative taxable bases obtained by an AIE are attributed to the members, who in turn must include them in their corresponding company tax returns.
The tax responsibility of each member is in proportion to the company statutes of the Association for the tax period in which the AIE formulates its annual accounts.
Members of the AIE carry the association's accounts separate from their other businesses.
Procedures relating to the constitution of an AIE are exempt from transfer tax - Impuesto sobre Transmisiones Patrimoniales y Actos Jurídicos Documentados.
The same applies to the initial contracts, other legal documents needed for the constitution, members' monetary contributions, reduction in capital, liquidation of the association and also procedures taken to convert to another type of entity.
With regard to Value Added Tax, there are no special circumstances as an AIE receives goods and trades in the same manner as any other company.
Drive the PPS Sky High so the shorts get caught with their pants down around their ankles standing in front of a police station.
This is far from dead....just because we had one day without any volume means nothing more than this is still under the radar.
Don't you mean .018? HAHA
Quiet Day.
There is huge money to be made in Latin American and I'm happy that PANAMERSA knows that already. Most people don't understand what kind of profit margin there is when you're dealing with inexpensive labor. Well if you haven't figured it out already, the profit margin is HUGE.
News Out!!!!
UBSS back to its old tricks.
It seems like UBSS is trying to show a fake wall @ .0035. Take a look at the L2 for IGTS, UBSS is doing the same thing there too.
Do you think that's why the Ask is stacked up like that? Pretty much all of last week I was seeing a huge gap past the .003's, with the next MM in the .00's. If that is the case do you think we could see nickels or dimes once this starts to run?
I'll 2nd that!!!
You speak the truth Daddy, with a PROACTIVE CEO like MT, good things are right around the corner.
Maybe you shouldn't be standing on your head when you're doing your TA on this.
If it keeps up, that day may be sooner than later.
Any Real Estate you find in resort areas, where people are likely to retire are priced in USD.
Ugly Close today...but the good point is maybe some buyers will pick it up on scans over the weekend.
Anybody watching this EOD Run.....
J/K
Long & Strong here
Bid is moving up
Almost a half hour now and No trades...Something is up
Well today might be the day Guys
Anyone ready my last post #16412 ?
I've been trying to connect the dots myself and I'm starting to think that it might unfold like this. Of course this is my own opinion, but I'm trying to connect the dots between what insurance, microloans, payroll, etc. and the past few PR's about real estate and enviroment preservation.
It seems that these are 2 very different categories, and I've been thinking over and over how these 2 are linked. Then I started to wonder if they are different for a reason. And then I started reading posts about offering a div to force all the shorts to cover. At this current point in the development of the business I don't see a cash div being the best option, but a stock div could be the answer.
But what stock are they going to give as a dividend? Could it be that we're hearing all these PR's about Real Estate and the enviorment as a precusor? Could the company form a new entity with those 2 parts, and offer the div as restricted shares of the new company. This could force all the shorts to cover. And at a later point in time those shares could be converted back to PayPro Shares?
Looking back at your posts today, I would argue that you didn't contribute much to this board either today. Don't be dissapointed because you didn't see Claudio's "Spike" Maybe you can borrow his hat when he gets a new one. And regardless if half the posts were a waste of time to read today, the more posts this board gets, the more attention is drawn to it, more attention = more buyers. This site is totally based on posts/views, thats what the rankings are for. And what else are we suppose to post about on a down day, making fun of Claudio is better than making posts about...Why isn't this going up?
Somebody must have taken his Hat. We really need to get one of the mods on here to put out a survey on who Claudio really is. Thank you for finding a pic of him also.
I think we're seeing a bottom here in the .0033-.0035 range. If you have the $$$ this is the time to Add. IMO
I'm really shocked that there isn't more buying/volume today. With an estimated float of around 400mm if I remember correctly, and the way the L2 ASK is showing, this thing could run very quickly with 100mm in volume. IMO
L2 anyone?
OT CUBS FAN here too... Sox SUCK
WTF is going on here....Wish I had more $$$ to load up down here.
I hear that...Now would be a great time to take a trip down to Panama and see what's going on there.
To be honest, I'd be interested in opening a location where I live (suburbs of chicago). From the DD I've done, once this company open its 1st location, you'll see people jumping at the chance to own one in their area. IMO
Nope, just normal bid-wacking as usual. It's been trading like this for the past few days. Between .0009-.0016 IMO
IGTS What do you guys think?
So do I. With any decent volume, we're off to the races. IMO
Welcome Back...Now we can go up again..And by the way, I enjoyed reading your posts on the Jail board.
Is UBSS the only one @.001 on the ASK?
You mean this guy..
Would you agree that they're at it again?
Here's Claudio photo.
Do you think we could get this photo in the ibox.
I find it very ironic that you didn't take the trip to Dallas to attend the meeting. You obviously could have wrote off the trip as a business expense considering that's what kind of business you're involved in. If I was running an investment group, and had the stock plastered all over the front page of the site, I would feel obligated to attend. IMO