Article 55. Tax Period

1. A tax period shall be a year or any other period of time with regard to a taxpayer's liabilities for individual taxes after the end of which the tax base shall be determined and the due amount of tax assessed. The tax period may consist of one or several reporting periods that are winded up with advance payments.

2. If an organisation was established after the beginning of a calendar year, the first tax period for such organisation shall be the time period from the date of establishment to the end of that year. The date of establishment of the organisation shall be the date of state registration of such organisation,

If an organisation was established between December 1 and December 31, the first tax period for such organisation shall be the time period between the date of its establishment and the end of the year following the year of its establishment,

3. If an organisation was liquidated (reorganized) before the end of a calendar year, the last tax period for such organisation shall be the time period between the beginning of that year and the date when the liquidation (reorganisation) was completed,

If an organisation established after the beginning of a calendar year was liquidated (reorganized) before the end of this year, its tax period shall be the period of time between the date of its establishment and the date of liquidation (reorganisation).

If an organisation was established during the period of time between December 1 and December 31 and liquidated (reorganized) before the end of the calendar year following the year of its establishment, its tax period shall be the period of time between the date of establishment and the date of liquidation (reorganisation).

The rules set out In this part shall not apply to organisations from which one or several organisations are separated, or which access one or several organisations.

4. Rules set out in parts 1-3 of this Article shall not apply to those taxes and fees for which the tax period is established for a calendar month or quarter. In such cases, when an organisations is established, liquidated, reorganized, individual tax periods shall be changed with approval of the tax body at the place of registration of the taxpayer.

5. If property subject to taxation was purchased, sold (alienated or destroyed) after the beginning of a calendar year, the tax period for such property for the purpose of the tax on such property in the given calendar year shall be defined as the time period during which the property was actually owned by the taxpayer.