A profit-seeking enterprise shall make its current final report up to the date of dissolution, closure, amalgamation or transfer of ownership, and then its total business income and taxable amount on a prescribed form to the local collection authority-in-charge 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 local collection authority-in-charge within thirty days from the date of completion of liquidation, and the taxpayer shall, before filing his or her tax return, make tax payment by his herself at the prescribed rates applicable to the profit-seeking enterprise in the taxable year. However this is not applicable to those enterprises which are exempt from the liquidation process in accordance with other acts. 

 

The term "period of liquidation" as referred to in the preceding paragraph shall be the time limit as provided in the Company Act, in the case that the profit-seeking enterprise is organized in the form of corporation; and shall be three months from the date of dissolution, closure, amalgamation or ownership transfer, in the case that is not organized in the form of corporation.