A liquidating distribution or liquidating dividend is a type of nondividend distribution made by a corporation or a partnership to its shareholders during its partial or complete liquidation. Instead, the entire amount of shareholders' equity is distributed.
A liquidating dividend is a type of payment that a corporation makes to its shareholders during a partial or full liquidation. For the most part, this form of distribution is made from the company's capital base.
Dissolution may either be voluntary or involuntary. There are three modes of voluntary dissolution, namely:
AS early as , our Supreme Court had already characterized the gain or loss sustained by a stockholder of a corporation as a taxable income or a deductible loss. The same was reiterated in where the SC emphasized that any gain on the part of the stockholder is subject to income tax.
Corporate liquidation results in assets being distributed to creditors and shareholders. A liquidating dividend is used when a corporation is dissolving and it needs to distribute its assets to its shareholders.
Philippine Tax—During liquidation, the distribution and transfer of remaining corporate assets by the dissolving corporation to its stockholders by way of liquidating dividend is not a sale subject to income tax, Creditable Withholding Tax and Documentary Stamp Tax. This is so because the said transfer is not considered as a sale rather it is viewed as a return of capital to the stockholders.
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