In liquidating a
A company in liquidation with receipts has to file its Declaration of Receipts and Payments (“Declaration”) with IRAS on an annual basis, while a company in liquidation without receipts has to file its Declaration once every four years.For a company in liquidation that has receipts, the liquidator will have to file a Declaration of Receipts and Payments (With Receipts) (1.2MB) with IRAS on a yearly basis.Our goal is to minimize a headache and maximize the revenue that our clients undergo when they encounter a surplus, reverse logistics, buybacks, and salvaged goods.Cargo Liquidators is able to liquidate any product through our sustainable relationships with many discount stores, and vendors across the United States.READ MORE The entire process with Cargo Liquidators was seamless from the beginning until the end and they moved my excess inventory in a matter of days.I can honestly say that there have been none that worked as professionally and thoroughly as Cargo Liquidators.Section 59(2) of the Singapore Income Tax Act provides that the liquidator shall not distribute any of the assets of the company in liquidation to its shareholders unless he has made provisions for the full payment of any tax payable by the company.
Write a statement saying that the directors have assessed the company and believe it can pay its debts, with interest at the official rate.This allows companies to regain profitable inventory space.Cargo Liquidators is pleased to take a look at any inventory, and carry out business soon.After the Final Meeting has taken place, Company A will need to submit to IRAS its final financial statements covering the period 2 April 2016 to .For a company in liquidation that has no receipts, the liquidator will have to file a Declaration of Receipts and Payments (With No Receipts) (935KB) with IRAS only once every four years.This should be filed with IRAS within one month of end of the period for which the declaration is made.For example, Company A commenced liquidation on 2 April 2016 and continued to receive income.However, these documents are to be prepared and retained for submission upon IRAS' request.The liquidator must ensure that the books and papers of the company are retained for a period of at least five years (instead of two years previously) from the date of dissolution of the company.For example, Company A decides on to call for a Final Meeting within the next six months, i.e. Company A must file the last Declaration, for the period 2 April 2016 to , by (i.e. When the Final Meeting has taken place, the company must submit its final financial statements to IRAS for the period starting from the date of commencement of liquidation to the date of the Final Meeting.For example, Company A decides to have its Final Meeting on .