A profit-seeking enterprise shall make its current final report up to the date of dissolution, closure, amalgamation or transfer of ownership, and then report its total business income and taxable amount on a prescribed form to the tax authority within forty-five days, and further make tax payment by itself before filing its income tax return. 
 

 

Any income earned from liquidation during the period of liquidation shall be reported on a prescribed form to the tax authority within thirty days from the date of completion of liquidation, and the taxpayer shall, before filing its tax return, make tax payment at the prescribed profit-seeking enterprise income tax rate in the taxable year. However this is not applicable to those enterprises which are exempt from the liquidation process in accordance with other laws. 

 

The term "period of liquidation" as referred to in the preceding paragraph for the company organization shall be the time limit in accordance with the Company Act; for the limited partnership organization it shall be the time limit in accordance with the Limited Partnership Act; and for others it shall be three months from the date of dissolution, closure, merger, or ownership transfer.