Under what circumstances will the Inland Revenue Department agree to the deregistration of a limited company?

Applicants will receive a notice from the Inland Revenue Department about whether they agree to accept the application within 21 working days after submitting the application for deregistration of a limited company. If the Inland Revenue Department determines that the limited company is in the following circumstances, it will immediately approve the cancellation:

• The company has never operated a business from inception to completion

• The company will not re-operate after a period of time

• The company has no property transactions in the past year

• The company has rental income that is not subject to profits tax

• The company has no unsold inventory, properties or securities

• No outstanding taxes

• Processed all the forms required by the tax bureau, the required information and the inquiries required to be answered

• All objections and appeals against the company’s tax assessment have been closed

The above information is for reference only. If in doubt, we welcome your tax inquiries

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