(1) Where the trustee of any corporate taxable trust property transfers the assets and liabilities of the corporate taxable trust property to a new trustee following a change of trustee, the transfer value of the assets and liabilities shall be deemed the book value as of the date of the change of trustee, and no profit or loss shall be deemed to exist as a result of such transfer.
(2) Where there is a change of trustee pursuant to paragraph (1), matters necessary for calculating the amount of income of a new trustee for each business year shall be prescribed by Presidential Decree.[This Article Added on Dec. 22, 2020]