Accounting Affairs Handled by Electronic Sources for Profit-seeking Enterprises-Company Formation_Trademark Registration_Tax Service - Hong Kong CPA

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Taxation - Taiwan

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Accounting Affairs Handled by Electronic Sources for Profit-seeking Enterprises

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Q：	Is it necessary to get the approval of dealing accounting affairs through electronic sources in advance? If does, is it necessary to submit the trial balance sheet to the revenue service office for examination monthly?
A：	Due to the growth of dealing accounting affairs via electronic sources by profit-seeking enterprises, the act of “Regulations Governing the Accounting Books and Vouchers of Profit-seeking Enterprises Managed by the Competent Tax Authorities" is resolved to revised accordingly. The profit-seeking enterprises are able to deal with the accounting affairs through electronic sources without reporting in advance pursuant to the revised article 9th. Instead, the accounting affairs through electronic sources shall be proceeded in accordance with the article 40th in “Business Entity Accounting Act”. For profit-seeking enterprises which are approved to deal with the accounting affairs by prescribed regulations, the trial balance is not required to submit to the revenue service office for examination. The official letter of 0910455893 issued by Ministry of Finance on 23/09/2022 is stated that the act of “Regulations Governing Accounting Affairs via Electronic Devices for Profit-seeking Enterprises” is annulled.
Q：	What is the simplified regulation to maintain the cashier register uniform invoice for profit-seeking enterprises in Taiwan?
A：	The cashier with the function of media to store the uniform invoice for business entity is allowed to maintain the data in the media in substitute of the uniform invoice to maintain. In addition, for profit-seeking enterprise which uniform invoices are issued by the cashier in the retail department, the uniform invoices can be disposed of within 9 months from the date of declaration of each business tax to the revenue service office and the daily statement and invoice uniform statement are able to maintain instead. The abovementioned certificate shall be maintained as following conditions: It is certain that no any profit-seeking enterprise income tax or amount of fine is remained. It is certain that the accounting system is well-structured, and the internal procedure of verification and management is regulated. The tax return of profit-seeking enterprise at that fiscal year is authorized to audit by an independent certified public accountant or approved to declare in the blue application form. The copies of uniform invoices which issued by a duplicate uniform cashier reaches more than fifty thousand monthly on average for head and branch office in this half of a year.
Q：	Is it necessary to print the accounting documents for maintenance for profit-seeking enterprises which deal with accounting affairs via electronic sources?
A：	The accounting certificate, accounting documents, and financial statements are allowed to be output through electronic sources or stored in the media.
Q：	Is it necessary for the responsible person, manager, host, and accounting affairs to sign or stamp the printed accounting certificates and documents for profit-seeking enterprises which handle the accounting affairs by electronic sources?
A：	The Business entities processing accounting data electronically, the authorization for input accounting data shall be in writing or electronic form. The signed or stamped of the responsible person, manager, host and accounting staff in the bookkeeping voucher and account books can be replaced by control program that set by authorization password.
Q：	What is the before-and-after comparison of annulled imputation tax system on 01/01/2018 for dealing accounting affairs?
A：	During the implementation of imputation tax system from 01/01/1981 to 31/12/2017 to withhold the taxes, “Deductible Withholding Taxes Account for Shareholder” shall be established, apart from the accounting books for profit-seeking enterprises, which shall be stated the amount of distribution of profit-seeking income tax to each shareholder clearly. From 01/01/2018, parts of articles in Income Tax Act were revised to cooperate with the program of optimization to income tax, which was included to delete the existence of deductible withholding taxes account for shareholders, related articles, computation, distribution, and punishment. Profit-seeking enterprises is no longer necessary to set up this account additionally, which is helpful to simplify the tax system and meet the global requirement.

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