Transfer of business: joint and several tax liability follows the transfer and transferee must amend registration promptly. Both transferor and transferee are jointly and severally liable for tax, interest and penalties on the transferred portion of a business that accrued up to the transfer date, whether determined before or after transfer. The transferee is liable for tax on supplies from the date of transfer and, if registered, must apply within the prescribed time to amend the certificate of registration.
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Transfer of business: joint and several tax liability follows the transfer and transferee must amend registration promptly.
Both transferor and transferee are jointly and severally liable for tax, interest and penalties on the transferred portion of a business that accrued up to the transfer date, whether determined before or after transfer. The transferee is liable for tax on supplies from the date of transfer and, if registered, must apply within the prescribed time to amend the certificate of registration.
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