Q：
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What are the penalties for omission or underreporting of inheritance?
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A：
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The taxpayer has declared the inheritance tax in accordance with the regulations, but if there is any omission or under-declaration, in addition to the additional tax, a fine of less than twice the amount of the evaded tax will be imposed. If the estate tax amount is less than TWD$60,000 or the net amount of short-reported inheritance is less than TWD$600,000, the penalty can be exempted. If tax evasion is intentional by fraud or other improper methods, in addition to paying the tax, a fine of 1 to 3 times the amount of tax evaded shall be imposed. If you automatically make up the report before receiving the report and before the investigation by the personnel designated by the Internal Revenue Service or the Ministry of Finance, in addition to paying back taxes, you can be exempted from penalties, but you will also have to pay additional taxes. Interest is levied together.
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According to Article 7 of the Law on the Protection of Taxpayers’ Rights, the taxpayer, based on obtaining tax benefits, violates the legislative purpose of the tax law, abuses legal forms, and uses unconventional transactions to evade the elements of taxation and taxation, in order to achieve a transaction that is equivalent to the normal transaction. The economic effect is tax avoidance.
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Q：
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After the declaration of the estate, if there are short or missing reports, how should they be remedied?
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A：
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If a supplementary report is submitted before the deadline for reporting, there is no need to punish the applicant for short or missed reports.
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If the supplementary declaration is automatically submitted after the declaration period expires but before the tax collection agency seizes it, there will be no penalty for the supplementary tax plus interest from the day after the declaration period expires to the day of the automatic supplementary declaration.
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Q：
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What are the penalties for failure to pay inheritance tax within the limit?
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A：
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When the taxpayer of inheritance tax fails to pay the tax within the time limit, a late payment fee of 1% of the tax payable will be imposed for every 3 days beyond the deadline. It is enforced by the Administrative Executive Branch of the Administrative Executive Department. In addition to taxes and late fees, the amount that should be paid must be calculated from the day after the expiration of the overdue period to the day when the taxpayer pays. Fixed interest rate, plus interest on a daily basis.
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Q：
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What punishment will be imposed if the estate is divided or registered for transfer before the estate tax is paid in full?
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According to the law, before the inheritance tax is paid off, it is not allowed to divide the inheritance, deliver the bequest or go through the transfer registration. If it is violated, it will be sentenced to a fixed-term imprisonment of not more than one year. However, this is not the case if the application is made in advance and the tax authority approves and issues a certificate of consent to transfer or a certificate of tax exemption, or a certificate not included in the total amount of the estate.
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Q：
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How is the assessment period and collection period applicable to inheritance tax stipulated?
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A：
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If the taxpayer has declared the inheritance tax within the specified period, the period of assessment shall be 5 years from the date of declaration.
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If the taxpayer fails to declare and pay the estate tax within the prescribed period, the period for the assessment shall be 7 years from the day after the expiration of the prescribed declaration period.
As for the collection period of inheritance tax, it is 5 years from the day after the expiration of the payment period; however, if the taxpayer applies for review according to law or has paid one-third of the tax payable or has provided a considerable guarantee and lodged a petition, the tax collector Where the tax collection agency suspends the transfer or suspends the execution of taxes due to other laws and regulations, the calculation of the collection period shall be deducted from the above-mentioned period of suspension of transfer or suspension of execution.
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FAQ
