Chapter 3 - Supplies of Goods and Services
Article 17 - Transactions Not Falling within the Scope of Tax - Transfer of an Economic Activity
The transfer by a taxable person of his economic activity to another person, whether in whole or in part, shall not be considered a taxable supply, provided that the transferee continues to conduct that activity and is considered a taxable person, subject to the fulfillment of all the following conditions:[28]
The goods and services transferred must represent the economic activity or part of the economic activity capable of operating independently as a separate economic activity, and must include all tangible and intangible elements necessary for operating the transferred economic activity.
The transferee must be a taxable person registered with the Authority or a person who will become a taxable person as a result of the transfer, and the transferee must use the transferred goods, services, and assets directly for the same economic activity conducted by the transferor.
The transferor and the transferee must agree in writing that the transfer constitutes a transfer of an economic activity for the purposes of these Regulations.
Both the transferor and the transferee must notify the Authority of the transfer transaction no later than the end of the month following the month in which the transfer took place, in the form prepared for this purpose, which must include the following details:
The name and address of both the transferor and the transferee.
The tax identification number of both the transferor and the transferee (if registered).
Proof of the transferor's registration with the Authority as a result of completing the transfer process (if not already registered).
The date of transfer of the economic activity.
Details of the goods and services included in the transfer of the economic activity.
A copy of the agreement for the transfer of the economic activity between the transferor and the transferee.
Any other documents specified by the Authority.
Upon completion of the transfer of the Economic Activity — and in accordance with the provisions set forth in this Article — as of the date agreed upon in the contract concluded between the supplier and the recipient, the taxable person (the recipient) shall substitute the supplier in respect of exercising the right to deduct or recover input tax related to the transferred activity, or any output tax that has been previously declared to the Authority, in the cases specified under Article 40 of these Regulations. The same shall apply to other obligations relating to maintaining and keeping records associated with such economic activity, in accordance with the provisions set out in these Regulations. The transfer of the activity under the provisions of this Article shall not prejudice the liability of either the supplier or the recipient for tax obligations arising before or after the transfer process, relating to the application of the Law and these Regulations, unless otherwise agreed. In all cases, the recipient shall not replace the supplier in respect of the supplier’s liability for any tax violations committed prior to the date of transfer and relating to the goods or services subject to the transfer.[29]
In cases where the transfer of an Economic Activity results in the Supplier or recipient of that Economic Activity being required to register or deregister, notification must be provided to the Authority within thirty (30) days of the transfer date.
The Supplier of an Economic Activity must provide copies of all business records relating to that Activity which are required to be retained by the Law to the recipient of that Economic Activity.
The transfer of an economic activity carried out in accordance with the provisions of this Article shall not result in the transfer of the tax identification number of the transferor to the transferee. The transferee must submit an application for registration with the Authority and obtain a separate tax identification number, unless already registered with the Authority prior to the transfer date.[30]
If the transfer of the economic activity does not satisfy all the conditions and requirements stipulated in this Article — including notification to the Authority of the transfer transaction — the transfer of the goods and services representing the transferred economic activity shall be deemed a taxable supply.[31]