LAND VALUE INCREMENT TAX CAN BE DEFERRED OVER MULTIPLE MERGERS

Article 34 of the Corporate Mergers and Acqui-sitions Act (CMAA) provides that when land is transferred due to a merger, a demerger or an acquisition in which at least 65% of the consid-eration is given in the form of shares, land value increment tax (LVIT) can be first calculated and recorded, and payment can be deferred until such time as the acquiring company transfers the land to another party, at which point the deferred ... More