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Q:
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What are the requirements for filing itemized donations in Taiwan individual income tax?
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A:
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When listing for tax deduction, for charitable association and legal person organization that conform to the general principles of the Civil Code, donations from educational, cultural, charitable institutions or groups that have been registered or established with government, donations to a designated specific (the specific athlete and the donor should not be the spouse, second degree of kinship, in-law relationship) through a special account set up by the central government, and the charitable trust property established, donated, or joined according to law, the deductible amount cannot exceed 20% of the total income.
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Can the donation from Taiwan individuals to the Mainland China listed as deduction for income tax?
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Donations from individuals to the Mainland China should go through educational, cultural, charitable association regulated by the Income Tax Act Article 11 Paragraph 4. Individuals should not donate directly to the Mainland China. The donation mentioned above must be approved by the Mainland Affairs Council R.O.C. Taiwan, Legislative Yuen in accordance with the Income Tax Act or other related regulations. Donations without approval cannot be list for tax deduction.
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What are the requirements for filing donation to political party, political association and election candidates in Taiwan individual income tax?
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If the taxpayer is applying the itemized deduction method, deduction can be listed within the following limits:
According to the Political Donations Act, the total annual donation of individuals to the same election candidate shall not exceed NT$100,000, and the total deduction of donations from political parties, political organizations and candidates for each applicant shall not exceed 20% of the total income declared by the reporting household in that year and the amount shall not exceed NT$200,000.
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What are the requirements for filing donation to private school in Taiwan Income Tax?
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Individuals’ donations to school legal persons or private schools established prior to the implementation of the amendments to the law on December 18, 2017 through the “Promoting Development of Private Schools Foundation” shall not exceed 50% of the total income, unless donations are not specified to a school legal person or school, all deductions may be listed. The original receipt must be attached for verification.
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What are the requirements for filing deduction for insurance premium?
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The insurance fee that can be declared and deducted refers to the personal insurance, labor insurance, national pension insurance and military, public and education insurance of the taxpayer, spouse or dependent immediate family members. The proposer and the incurred should be declared in the same household, the deduction amount per person (calculated based on the insured person) cannot exceed NT$24,000 per year. The original insurance bill or receipt shall be attached with the declaration, and the insurance premium paid by organization or business unit (the part borne by the employee), shall attached the proof filled by the service unit. The above mentioned “lineal relative” refers to the lineal relative that the taxpayer support. If the taxpayer pays insurance premium for the lineal relative who are not declared support by the taxpayer, then the premium shall not be declared for deduction.
However, the National Health Insurance premium (including supplementary insurance premium) paid by the taxpayer, spouse, and lineal relative declared for support as the insured person in accordance to the National Health Insurance Act, may be declared for deduction by the taxpayer with full deduction and no limitation of the amount.
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