Tax aspect of liquidation of companies have their own specific characteristics in relation to the general corporate tax regime.
The most common tax questions which arise regarding the tax aspect of liquidation of companies are:
- assessment of tax on corporate profit of companies in liquidation and
- tax treatment of payments of the liquidation surplus.
Assessment of tax on profit of companies in liquidation
Generally according to the provisions of Article 34 of the Corporate Profit Tax Law, taxpayer’s profit in the process of liquidation shall be taxed in accordance with that law. Continue reading Tax aspect of liquidation of companies