The National Taxation Bureau of Kaohsiung of MOF said that recently received a call from a partnership enterprise to inquire that due to the withdrawal of the partner, only one partner left. Should he or she handle the current final report and liquidation declaration?

The bureau stated that the establishment and existence of a partnership must have more than two partners. If there is only one partner left due to the withdrawal of the partner or the transfer of the investment by the person in charge, the survival requirements of the partnership are lacking. The organization shall dissolve for cancellation registration, and handle the current final report and liquidation declaration under Article 75 of the Income Tax Act. Therefore, if one of the partners wants to establish a sole proprietorship, he or she must apply for another registration.

The bureau explained adding that the person in charge or partner of changing the profit business of a partnership, if the profit business entity has not dissolved, abolished or transferred, can be exempted from the current final report and liquidation declaration.

Contact: Mrs. Lee, the Head of the First Examination Division

TEL: 07-7256600 ext.7120