Amalgamation liability: companies remain separately taxable for inter-company supplies until the merger order takes effect. When companies are amalgamated or merged with an order taking effect from an earlier date, supplies and receipts between those companies during the period ... Summary
Amalgamation liability: companies remain separately taxable for inter-company supplies until the merger order takes effect.
When companies are amalgamated or merged with an order taking effect from an earlier date, supplies and receipts between those companies during the period from the effective date to the order date must be included in each company's turnover and taxed accordingly; despite the order, the companies are treated as distinct entities up to the order date and their registrations are cancelled with effect from the order date.
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