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<h1>Transfer of business liability: transferee and transferor are jointly and severally responsible for pre-transfer tax liabilities; transferee must update registration.</h1> When a taxable person transfers a business in whole or in part, both transferor and transferee are jointly and severally liable for tax, interest and penalties due up to the date of transfer, whether determined before or after transfer. The transferee who carries on the business is liable for tax on supplies from the date of transfer and must, if registered, seek amendment of registration within the prescribed time.
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