Register of Public Sector Partners | KPMG | SK

Register of Public Sector Partners: Do you need to register?

Register of Public Sector Partners

Access to funds from public resources is from 1st February 2017 conditional upon the registration in the Register of Public Sector Partners.

1000

Related content

  • A public sector partner is any individual or any legal person receiving financial means, assets or other property rights from public resources, for example from national and municipal budgets, EU funds, including state aid.
  • The obligation to register in the Register of Public Sector Partners applies under specific circumstances also to individuals and legal persons that directly or through other persons supply goods or services to public sector partners.  
  • The registration can be carried out only by an authorized person, such as an attorney-at-law, auditor or tax advisor
  • A violation of the obligations under the Act on the Register of Public Sector Partners may result in fines and withdrawal of the state or municipalities from the concluded contracts
  • The fines imposed for non-compliance amount to the economic benefit. If this cannot be determined, the fines range from EUR 10,000 up to EUR 1,000,000. The fines imposed on statutory bodies of non-compliant public sector partners may be imposed up to EUR 100,000 and up to EUR 10,000 on the ultimate beneficial owners
  • Entities registered in the current Register of the ultimate beneficial owners are considered public sector partners. However, they are required to arrange for a verification of the ultimate beneficial owner by 31 July 2017 at the latest. A failure to comply with this obligation will result in the deletion from the Register of Public Sector Partners with all consequences. 
  • The verification of the ultimate beneficial owner must be performed on an annual basis.

How can we help you

  • Determine your obligation to register as the public sector partner;
  • Identify and verify your ultimate beneficial owner; 
  • Assist you with the registration in the Register of Public Sector Partners and assume the role of the authorized person.

* The provision of these services is conditioned by a written contract and completion of KPMG internal client and engagement acceptance procedures.

© 2017 KPMG Slovensko Advisory k.s., a Slovak limited partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

Connect with us

 

Request for proposal

 

Submit