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of <h1>Liquidators must inform Commissioner within 30 days; ex-directors liable if taxes unpaid unless proven otherwise.</h1> When a company is being liquidated, the appointed liquidator must inform the Commissioner of their appointment within thirty days. The Commissioner will then determine the amount needed to cover any taxes, interest, or penalties owed by the company, notifying the liquidator within three months. If a private company cannot pay its tax liabilities during liquidation, former directors are jointly and severally liable unless they can prove that the non-recovery was not due to their neglect, misfeasance, or breach of duty.
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