Application for a real estate capital gains tax exemption on the sale of a property right due to the dissolution of a corporation (Form 7004)

Who can file the application

A corporation that is being dissolved and requests a tax exemption, in accordance with Section 71 of the Real Estate Taxation Law.

What to add

• Form 7004
• Protocol of the resolution regarding the voluntary liquidation of the corporation
• Confirmation from the Registrar of Companies regarding receipt of the voluntary liquidation request
• The corporation’s balance sheets of the last five years signed by a certified public accountant
• Confirmation from the Registrar of Companies detailing the holders of the rights, their respective rights, and the dates of acquisition

The service is free of charge

How to file the application

A dissolving real estate corporation is required to submit a declaration to the Capital Gains Tax Department. If the corporation wants to apply for a tax exemption under Section 71, it must complete the form and attach it to the declaration. The corporation’s directors must sign to confirm the accuracy of the information provided.

What next

After the regional office receives the form, the declaration and self-assessment will be reviewed, including verification of the information provided in the declaration form regarding the real estate association transaction and the eligibility for exemption.
The detailed guide titled “Know Your Rights and Obligations” is available to you, and includes explanations regarding the rights and obligations of sellers and buyers of real estate rights.