112 Tax collection on determination or transfer of business

(1) When a hotel, restaurant, event centre or other facility covered by this Bill is sold or otherwise disposed of by the Collecting Agent, the Transferee shall withhold such amount of the purchase price or other consideration as is sufficient to offset all payments already due to the Service under the provisions of this Bill, unless the Transferor has first provided a receipt issued by the Service showing that the amount due at the date of transfer had been paid or that no amount was due.

(2) A Transferee of a chargeable facility who fails to comply with the provisions of Subclause (1) of this Clause shall be liable to pay the amount due to the accounts designated by the Service and the provisions of Clauses 84 and 85 of this Bill shall apply as if he was operating the business at the time the payments were due.

(3) The Transferee of a chargeable facility may request from the Service a Certificate stating that no tax is due or stating the amount of tax due from the facility at the date of transfer.

(4) In the case of a request made under Subclause (3) of this Clause, the Service shall issue the certificate within thirty (30) days of receiving the request or within thirty (30) days after the day on which the relevant record of the business is made available for audit, whichever is later, but in either event, the Service shall issue the Certificate within sixty (60) days after the date of request.

(5) In the absence of willful concealment or fraud, the period of limitation during which the Service may assess tax against a Transferor under this Clause is four (4) years from the date when the Transferor disposes the chargeable facility or when a determination is made against the Transferor, whichever event occurs later.