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Q:
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How to compute the profit-seeking enterprise income?
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A:
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The net amount of income is the total amount of income at that year to reduce a variety of expenses, losses, and taxes. The way of calculation is dependent on taxable income and tax-exempt income. Except for those which can be categorized directly, the others shall share the related expenses, costs, or losses in accordance with the regulations by Ministry of Finance.
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Q:
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How to compute the income for Profit-seeking Enterprises under 1 year in Taiwan?
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A:
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For the profit-seeking enterprises under 1 year, the income shall be based on the rate of whole year to compute the amount of tax payables. For the profit-seeking enterprises under 1 month, the based rate is 1 month to compute.
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Q:
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What is the standard tax rate for Profit-seeking Enterprises Income Tax in Taiwan?
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A:
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1.
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The formula of minimum taxable amount and rates for profit-seeking enterprise income tax are as follows:
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At the year of 2020:
(1)
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The total amount of profit under NTD120,000, exemptible.
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(2)
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The total amount of profit more than NTD120,000, but less than NTD200,000. T(Taxation)=(P(Profit)-NTD120,000)×1/2
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(3)
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The total amount of profit over NTD200,000, T=P×20﹪
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2.
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The period of business under 1 year, compute the income of the whole year to pay the taxes.
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3.
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The nature of profit seeking in sole proprietorship or partnership, no act of calculation and taxation occurred.
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Q:
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How to proceed the tax return for the nature of profit-seeking enterprises in sole proprietorship?
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A:
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1.
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From 2018, the nature of profit-seeking enterprises in sole proprietorship or partnership to procced tax return is not required compute and pay the income tax. Instead, the amount of income shall be listed as Individual Income tax to compute and pay.
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2.
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It is not necessary to proceed tax return for small profit-seeking enterprises. The profit-seeking income will be categorized in sole proprietorship or partnership by Revenue Service Office to compute and impose pursuant to Individual Income Tax Act.
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Q:
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How to proceed the tax return of profit-seeking enterprises income tax? How to recover the overdue taxes?
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A:
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The applicant shall submit the completed tax return form, proof of tax payment, addendums, and other related proofs (The annual tax return for profit-seeking enterprise income tax is not required to submit the withholding and non-withholding tax statement, dividend statement and the receipt of provisional income.) and list these documents orderly to Revenue Service Office at the place of their residency for declaration.
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FAQ
