The procedure requires the liquidation of company assets to pay personal income recipient - 24 September 2011

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15:28 The procedure requires the liquidation of company assets to pay personal income recipient
After passing through the liquidation procedure participants Ltd company have the right to receive part of the assets of the company, which remained after the settlement of transactions with lenders. Also, these persons lawfully receive the value component of the property. On the liquidation procedure has recently provided clarification Ltd. Ministry of Finance in its letter № 03-04-05/4-647 September 9, 2011. Office clarified that upon receipt of revenues by the recipient of the liquidated assets of non-residential building, land, etc. the taxpayer must pay tax on personal income in the budget. The calculation of personal income tax should be performed on the basis of market value obtained following the procedure of liquidation of company assets. This is stated in the current tax law, namely Article 211 of the Tax Code of Russia.
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