The date to recognize “Export Revenue”
2017-03-14 20:38:37
If the date that a company turns in all the documents for “Custom Clearance” and the date of completion of custom clearance process fall into two different calendar years, regardless of whatever the trade term is, such as CIF, FOB, etc., the date...(more)
Regular Mistakes and Negligence When Filing Business Income Tax- part 1
2017-02-23 17:20:23
1. Fixed assets which have not reached their service years but have been scrapped and derecognized are mistakenly recognized as “temporary differences” and are deferred to be depreciated in a later year and when they reach their service years, th...(more)
Business Tax on Compensation and Damages
2016-06-24 12:28:05
If the compensations or damages received are related to selling of goods or services by a business owner, then GUI should be issued and included in business income tax. However, if the compensation received by a buyer from a seller is not the sales i...(more)
Employee’s bonus or compensation – Article 235-1 Taiwan Company Act
2016-04-15 18:24:53
In 2015, Taiwan MOEA amended the Article 235 Company Act and add a new Article 235-1, which provides that a company should share with its employee at least some certain amount or % of its net profit.
Debating on how to calculate the employee bon...(more)
VAT audit is starting soon
2016-03-18 16:20:36
The 2016 VAT audit is starting soon. Businesses should check for any mistakes to avoid any tax penalties. The National Taxation Bureau of Taipei has been using computer system to analyze any usual information to see if there are any tax evasions.
...(more)
amendment of the Act for Development of Small and Medium Enterprises
2016-02-17 16:55:24
According to the amendment of the Act for Development of Small and Medium Enterprises in February 2015, the salary expense from additional staff employed by small and medium enterprises can be used to calculate an additional 30% of amount deductible....(more)
Amendment to Statute for Industrial Innovation
2016-01-06 22:47:12
The Legislative Yuan passed an amendment to Statute for Industrial Innovation, which includes changes related to individual and company R&D tax deduction and employee stock rewards.
1. Companies can reward employees with stocks as remuneration, emplo...(more)
Taiwan-China Agreements on Double Taxation Avoidance and Aviation Safety.
2015-08-27 16:32:07
The 11th round of Preparatory talks between Taiwan’s Straits Exchange Foundation and China's Association for Relations across the Taiwan Straits was held on August 24th. Both parties had double-checked and verified the draft of agreements on double...(more)
Draft Amendment to the Income Tax Act aimed to prevent tax evasion and avoidance
2015-03-16 16:59:14
The Ministry of Finance submitted to the Executive Yuan a draft amendment to Article 43-3 and 43-4 of the Income Tax Act. The amendment is aimed to prevent businesses from tax evasion and avoidance through the use of tax havens....(more)
Input tax of company's year-end party expenses cannot be deducted
2015-01-30 16:21:32
The input tax cannot be used as deduction from output tax in the case of purchasing raffle prizes for company’s year-end party because they are purchased as rewards for employees. Giving the prizes to the employees does not need to be deemed as sel...(more)