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MAXIMUM AGGREGATE TERM OF EXIT BANS ON A COMPANY'S PREVIOUS AND CURRENT LIQUIDATORS IS FIVE YEARS
If a company with outstanding tax liability suspends business but has not appointed a liquidator to complete the liquidation procedure, the Ministry of Finance (MOF) may report such company's statutory liquidators (directors or shareholders) to the National Immigration Agency of the Ministry of the Interior (NIA) for issuance of an exit ban prohibiting them from existing Taiwan. When the company then appoints a liquidator to proceed with the liquidation procedure, the term of the exit ban applicable to the newly appointed liquidator is not stipulated under any legislation.
The MOF issued a ruling on 4 January 2010 (Ref No.: Tai-Tsai-Shui-09800511490) stating that the aggregate term of exit bans imposed on a company's previous and current liquidators should not exceed five years. This limitation applies to cases where the responsible person of a profit-seeking enterprise is subject to an exit ban and passes away subsequently, and the MOF reports to the NIA to impose an exit ban on the newly appointed responsible person. As to calculation of the term of exit ban on the previous liquidator or responsible person, it should begin from the date that the NIA issues the exit ban on the previous liquidator or responsible person and end on the date that the NIA cancels or lifts the ban.