WHAT IS THE PROCEDURE OF SELLING/TRANSFER OF A COMPANY TAKING ADVANTAGE OF THE EXCEPTION OR BUILDING A NEW SCHOOL OR CENTRALIZING WITHIN THE EXCEPTION?
1- If a taxpayer, who takes advantage of an educational institution and a rehabilitation center’s income exception, opens a new school or a center in addition to operated school or centers; the earning, which is received from the new school or the center, will be evaluated as a new unity in terms of exception procedure.
2- If a taxpayer, who takes advantage of an educational institution exception, transfers those institutions to another institution; he/she will not take advantage of the exception for five accounting periods, but he/she will take advantage of it for the untapped period.
Source: Corporation Tax Law
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