Uniform Invoice must be Issued for Transfer of Remaining Assets or Goods

For transfer of remaining assets with or without consideration at closing of a business entity, uniform invoice must be issued to file business income tax. According to Value-Added and Non-Value-Added Business Tax Act, goods produced, imported or purchased by a business entity for sale but in fact used by itself or transferred to others for no consideration shall be deemed as a sale of goods. Goods used to redeem debt or distributed to shareholders or investors; and stock left over when a business entity is dissolved or shut-down shall also be deemed as a sale of goods. The business entity must issue uniform invoice, otherwise the taxpayer shall be pursued for payment of taxes and be fined from one to ten times of the amount of tax evaded. In addition, his business may be suspended.