1. When a subsidiary divests its assets, it must conduct independent accounting and pay taxes independently. Whether to pay the management fee is decided by the parent company, and invoices are provided according to the needs of implementation and independent accounting. The income tax of subsidiaries is accounted for independently, and branches can go to the parent company for final settlement. 2. Asset divestiture refers to the act of separating the assets and liabilities of the original enterprise that do not belong to the quasi-joint-stock enterprise from the original enterprise accounts in the process of enterprise shareholding system reform.
Legal objectivity:
Article 14 of the Company Law A company may set up branches. The establishment of a branch company shall apply to the company registration authority for registration and obtain a business license. A branch company does not have legal person status, and its civil liability shall be borne by the company. A company may set up subsidiaries, which have legal personality and independently bear civil liabilities according to law. Article 115 of the Company Law A company may not provide loans to directors, supervisors or senior managers directly or through subsidiaries.