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Audit by Reviewing Enterprise Income Tax Returns
In Taiwan, here are 3 most common ways for profit-seeking enterprises to proceed tax returns: Expanding to the cases, audit by reviewing accounting books and tax compliance audit. To promote the convenience for small and medium-sized enterprises to proceed tax return, enterprises which total amount of net income and non-net income is under TWD30,000,000
Proof of Business Tax Return
This article aims to introduce the issuance of uniform invoice in practice. The introduction as below:The expenditure items required to state on the tax withholding form and submit to Taxation Bureau;Input credit and proof for accounting of business tax; Proof for accounting of business tax but no input credit incurred
Introduction and Issuance of Uniform Invoice (Part II)
The purpose of this article is to introduce Taiwan uniform invoice and instruct how to issue.The introductions as below:1. Category of uniform invoice;2. Principle of issuance;3. How to issue a handwritten invoice;4. How to deal with the wrong uniform invoice.The article is divided into two parts for readers’ convenience to understand.
Introduction and Issuance of Uniform Invoice (Part I)
The purpose of this article is to introduce Taiwan uniform invoice and instruct how to issue.The introductions as below: Category of uniform invoice;Principle of issuance;How to issue a handwritten invoice;How to deal with the wrong uniform invoice.It is unchangeable for a copy of issued uniform invoice. For example, it is not allowed to reissue the uniform invoice in June with the uniform invoice in July to August
Taiwan Head Office and China Subsidiary Expense Apportionment
Due to the support and management of China subsidiary mainly from Taiwan head office, such as development of foreign market, purchase and comparison of quotation, legal affairs, accounting, human resource assignment, the expenses will be incurred from these abovementioned services. So, it becomes a significant issue to discuss if the costs shall be assumed wholly by the head office or any other way to share them.
Employees Health Examination Tax Withholding and Return
According to “Occupational Safety and Health Act”, it is mandatory for employers to implement health examination on employees. In the condition of employees whose content of works is potential to damage their health or particular subjects from other government entities, the particular health examination items still have to be taken as well.
Tax Regulations on Holding a Year-end Party in Taiwan
In accordance with “Business Tax Act”, the prize which is purchased to reward the employees is not allowed to be listed as input tax to offset the output tax. A majority of Taiwan companies usually provide the employees with dinning party, lucky draws the welfare of these kinds, but the nature of these welfares is affiliated with rewarding to the employees, which means the input tax cannot be offset.
Transactions of Artworks in Taiwan
From 21/05/2021, in order to promote the development of arts and cultures industry, the income from transactions of individual artworks approved by Taiwan Ministry of Culture is allowed to proceed separate taxation for deduction.First of all, the company shall submit an application to Ministry of Culture before holding the event by one month.
Qualification for offsetting the Paid Foreign Business Tax in Taiwan
It is a very common phenomenon that a majority of Taiwan’s businessmen choose to invest in cross-country enterprises. However, according to the article 3rd in Income Tax Act in Taiwan, for the location of head office of foreign enterprises within the territory of Taiwan, such profit-seeking enterprise in Taiwan shall comply with the laws to declare the profit-seeking income tax. The domestic and oversea income shall be declared jointly.
Change of Responsible Person and Transfer of Goods for Trade Name
Given to the subject of supervisory changed, the deregistration of tax ID number is required upon the change of the responsible person for trade name in sole proprietorship and the new tax ID number shall be registered with the name of new responsible person.