If the Corporation is handed over after it goes into Action, How Can the Transferor and the Transferee Benefit from Reduced Corporate Tax?

17.07.2017

If the Corporation is handed over before it goes into action or after it partially or completely goes into action, the transferor and the transferee may benefit from reduced corporate tax as they fulfill the conditions stated below:

1- If the Corporation is handed over before it goes into action: The transferee can benefit from reduced corporate tax if they fulfill all the conditions stated in the related legislation.

2-If the Corporation is handed over before it goes into action: It is not possible for the transferor to benefit from reduced corporate tax with reference to that corporation.

3-If the Corporation is handed over after it partially or completely goes into action: The transferor (from the date of reduced corporate tax until the transfer date) and the transferee (after the transfer) can benefit from it as they fulfill all the conditions stated in the related legislation.

Source: Corporate Tax Law