Q:
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I am a small-scale business person in Taiwan, now I want to use the uniform invoice, can I pay the business tax according to the difference of the input tax and output tax?
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A:
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The business person could apply at the tax authority under the jurisdiction to calculate the business tax under Chapter 4, Section 1 in accordance with the Value-added and Non-value-added Business Tax Act. The business person should file the tax returns and pay taxes in accordance with the Articles No.35 of the Value-added and Non-value-added Business Tax Act. Once approved, no changes may be made within three years.
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Q:
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The business person that business tax amount determined and assessed by the competent tax authority would like to keep the purchase voucher, what is the benefits?
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A:
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The business person that business tax amount determined and assessed by the competent tax authority, purchase goods or services for business operation, obtains evidence stating the amount of pertinent business tax, and files the tax return 5 days before January, April, July, and October, according to the Value-added and Non-value-added Business Tax Act, 10% of input tax shall be deducted from the assessed tax amount by the competent tax authority. When the assessed tax amount is less than the minimum amount for assessment, this deduction shall not be applicable. If 10% of the input tax exceeds the assessed tax amount, the excess may be deductible in the coming period. However, if the declaration is not made within the time limit prescribed in the preceding paragraph, or the input vouchers are not distributed for each month of the current period, the deduction is not allowed.
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Q:
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Taiwan business person purchases goods and payment by installments, how to calculate the sales amount?
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A:
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When a business entity sells goods by an installment method, the price stipulated to be received in each installment shall be the sales amount, unless it is stipulated that, at the time of the collection of the first installment, the entire price receivable is to be defined as the sales amount. In case of the business entity does not pay the installments according to the contract since the goods have been delivered, the uniform invoice will still need to issue and file the tax returns.
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Q:
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How to handle the bonus earned according to the sales contract in Taiwan?
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A:
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The incentive bonus earned or paid by a business entity in accordance with a sales contract shall be treated as a purchase or sales discount, respectively.
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Q:
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In Taiwan, the passenger cars for personal use that could not deduct the input tax from the output tax is referred to which kind of passenger cars?
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A:
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It refers to a passenger automobile having not more than nine seats, and which is not used for the sale of goods or rendering of services.
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