Private institutions selecting the deferment of commencement date of the tax exemption period according to Paragraph 2, Article 28 of the Act shall, within the time limit set by that Article, apply for approval by the Ministry of Finance in accordance with the following provisions. No application shall be admissible if submitted beyond the deadline. Once approval is granted, no change is permitted.
1. If the application is filed concurrently with the application for exemption of profit-seeking enterprise income tax, the selected commencement date of tax exemption period and the starting and ending dates of its fiscal year shall be specified on the same application form.
2. If the application is made after the approval of exemption of profit-seeking enterprise income tax, a separate application shall be submitted to state the selected commencement date of the exemption period and the starting and ending dates of its fiscal year.