Settlement of Tax and Administrative Penalties in Case of Bankruptcy – Article 43 – Federal Tax Procedures Law

Article 43 – Settlement of Tax and Administrative Penalties in Case of Bankruptcy

1. The appointed bankruptcy trustee shall communicate with the Authority to be informed of the Due Tax or of its intention to perform a Tax Audit for a specific Tax Period or periods.

2. The Authority shall notify the bankruptcy trustee of the amount of the Due Tax or of the Tax Audit within (20) twenty Business Days after being notified by the bankruptcy trustee.

3. The bankruptcy trustee may object or appeal against the estimate of the Authority or settlement of the Due Tax.

4. The Executive Regulation shall specify the procedures of communication with the Authority, grievance, objection, and settlement of Due Tax.