(1) A corporate taxable trust property shall be deemed to have been established on the date of its establishment under Article 3 of the Trust Act.
(2) A corporate taxable trust property shall be deemed to have been dissolved on the date of its termination under Articles 98 through 100 of the Trust Act (where the date of its termination is unclear, referring to the date of its business closure pursuant to Article 5 (3) of the Value-Added Tax Act).
(3) A trustee subject to corporate taxation shall separately determine the business year for the corporate taxable trust property and report the business year to the head of the tax office having jurisdiction over the place of tax payment, along with a report on the establishment of a corporation under Article 109 or the registration of a business operator under Article 111. In such cases, the period of a business year shall not exceed one year.
(4) The place of tax payment of any corporate taxable trust property shall be the place of tax payment of the relevant trustee subject to corporate tax.
(5) For the purpose of paragraphs (1) through (4), the start date of the first business year of corporate taxable trust property, designation of tax payment place, and other necessary matters shall be prescribed by Presidential Decree.[This Article Added on Dec. 22, 2020]