Equivalent Collateral in Tax Collection Act-Company Formation_Trademark Registration_Tax Service - Hong Kong CPA

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Taxation - Taiwan

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Equivalent Collateral in Tax Collection Act

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Q：

Should a company reorganization in Taiwan be subject to change registration? In the process of reorganization, if there is any tax payable according to law, do I need to pay it?

A：

（1）

After the company's organization is reorganized, the management and disposition of the company's business and property shall be transferred to the reorganizer. The reorganization supervisor shall supervise the handover and report to the court, the company's shareholders' meeting, directors and supervisors. powers should be suspended. Accordingly, the chairman's authority to represent the company externally in accordance with Article 208, Paragraph 3 of the Company Law also ceased. According to the provisions of Article 8 of the Company Law, the reorganizer or the reorganization supervisor, within the scope of performing duties, is also the person in charge of the company. Therefore, the person in charge of the profit-seeking enterprise registration shall change the registration to the reorganizer.

（2）

If the company is reorganized, its legal entity still exists, and if there is any tax payable according to law, it should still be notified to pay according to law; the tax owed before the reorganization ruling can only be paid according to the reorganization plan according to the reorganization procedure. However, in order to comply with the legislative intent of the Company Law on company reorganization, which is to prevent the company from suspending business or going bankrupt due to financial difficulties, it is not appropriate to suspend business.

Q：

Can the machinery and equipment of Taiwanese companies be used as collateral for tax debt?

A：

Due to the fact that all the equipment owned by the company has changed in price, storage, and value estimation, etc., there are difficulties in practical operations. The verification has not been in compliance with the provisions of Article 11-1 of the Tax Collection Act, and it cannot be used as a security for tax arrears.

Q：

Taiwan provides tax payment guarantee with land, how to estimate its present value?

A：

When the land is used as a tax payment guarantee, or as the subject of tax preservation, the estimated value of the land shall be deducted based on the current value of the land announcement plus 20%.
In addition, if the land has been litigated for many years without a result, because there is a dispute over the property rights, it is not easy to change the price and keep it, so it cannot be used as collateral.

Q：

Taiwan’s business tax violation is punished. Can I apply for a guarantee with the accumulated business tax credit?

A：

Article 11-1 of the Tax Collection Law stipulates: "The term "equivalent Collateral" as used in this Act refers to the following guarantees equivalent to the guaranteed tax... 5. Other items approved by the Ministry of Finance, which are easy to change in price and keep, and have no property rights disputes. Property.” Also check the amount of residual tax stipulated in Paragraph 2 of Article 39 of the Business Tax Law, which is the business tax overpaid by the taxpayer in accordance with the collection procedures stipulated by the Business Tax Law. The business owner shall set aside the payable business tax. Under special circumstances, it may be reported to the Ministry of Finance for approval and refund. Therefore, the taxpayer's application for an amount equivalent to the accumulated business tax credits as a guarantee for the additional tax and fines levied in accordance with the Business Tax Act still complies with the "equivalent guarantee" in Article 11-1 of the Tax Collection Act.

Q：

Taiwan uses listed securities as a guarantee and then the stock price falls below the guaranteed limit. Do I have to make up the difference?

A：

The taxpayer provides listed securities as a guarantee for 1/3 of the tax payable for the re-examination decision to suspend the transfer and enforcement. If the securities fall below the guaranteed amount, it is not necessary to notify him to make up the difference.

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