Common FAQ for Profit-seeking Enterprises Income Tax (8)-Company Formation_Trademark Registration_Tax Service - Hong Kong CPA

FAQ

Hot Labels

Service Scope KAIZEN CPA provides Audit , Accounting, Tax Advisory, Hong Kong Company Formation, Offshore Company Registration, China Company Formation, Trademark Registration, Tax Service.

Taxation - Taiwan

Question

Common FAQ for Profit-seeking Enterprises Income Tax (8)

Answer

Q：	Is there any requirement of amount to receive a receipt for profit-seeking enterprises in Taiwan?
A：	The receipts received from small-scale profit seeking enterprises for the business fees and manufacturing fees listed by profit-seeking enterprises shall not exceed thirty over one thousand of the total amounts verified by Revenue Service office at that whole year. The excessive amount of expenses will not be recognized.
Q：	What the proofs of sharing expenses to recognize for profit-seeking enterprises and centralized office work of related enterprises are?
A：	The profit-seeking enterprises and centralized office work of related enterprises shall present the computation table of sharing expenses with related proofs. Such table shall be listed clearly of the sharing individuals, items and basis of sharing.
Q：	Is there any regulations about the excessive reduced items in the declaration of items reduction, which contributed to shortage of tax payment to pay the overdue tax with interests for profit-seeking enterprises in Taiwan?
A：	The costs, expenses, losses, deducted amount of investment of declared items of reduction for taxpayers of profit-seeking enterprises in tax return ,which reduced items exceeds the numbers enacted Income Tax Act and the appendix and contributes to shortage of tax payment verified by Revenue Service office to request to recover the overdue taxes, shall be paid the amount of overdues with the daily interests in the yearly fixed interest rate of certificate of deposit on January 1st annually from the next day of expiry date of tax return to the date of payment of overdue taxes. The amount of interest less than TWD$1,500 within one year can be exempted.
Q：	What kinds of expenses and losses with proofs is recognizable and for profit-seeking enterprises in Taiwan?
A：	The recognizable items of losses and expenses as following: Association dues. Payment of expenses of funeral, pension, or remuneration for employees for the sake of business. (The proof of above acts shall be presented.) The uniforms for employees for the sake of business. The liquidated damages and forfeiture of margin with related proofs. The losses by larceny with the list of losses and the proof issued by the police departments. (Such losses shall not be covered by insurance.) The payment of treatment, funeral, pension and remuneration to victims or relatives of a car accident. (Such losses shall not be covered by insurance.) Purchase of sports apparatus or the expenses of activities of sports for employees Ballrooms or other related businesses of approval to pay annual expenses by governments. Recruitment of foreign employees with a copy of employment contract and the expenses of delivery for luggage in arrival and departure. Awards for outstanding employees or ceremonies. The processing fees of disposed containers, tires, recycles for profit-seeking enterprises pursuant to laws. From 01/01/2013, For certain quantity of sales or amount of entertainment with the compromise of dealers and profit-seeking enterprises, such amount of entertainment shall be listed into other expenses and declare to Revenue Service Office in accordance with article 89 in Income Tax Act.
Q：	What are the required items for calculation of losses for profit-seeking enterprises in Taiwan pursuant to Income Tax Act?
A：	Expenses of Interest, pension, donation, entertainment, losses of bad debt, depreciation, various wastes and amortization, traveling, welfare of employees, food and beverages. According to Income Tax Act, the expenses of belated reporting surcharge, non-reporting surcharge, belated surcharged, fines, households or other irrelevant items of business shall not be listed as expenses or losses. According to Regulations Governing Assessment of Profit-seeking Enterprise Income Tax, the expected expenses and losses are unable to listed, but the losses from the slump of value of short-term securities and inventory goods, reservation of pension, offset of bad debt, or other items regulated by laws or approved by financial project are not limited. According to article 67 in Regulations Governing Assessment of Profit-seeking Enterprise Income Tax, the items without certificates or with certificate but not in correspondence with the losses and expenses of stated items is unable to be recognized.

Q Basic Income Shall Be Added for Profit-seeking Enterprises

A Q： What kind of tax-free income shall be added to the basic income of profit-seeking enterprises? A： Earnings received ...
Q Provisional Profit-seeking Enterprises Income Tax Return Punishment

A Q： Can the foreign tax and mainland tax paid by Taiwan's profit-seeking enterprises be deducted from the provisional tax...
Q Provisional Profit-seeking Income Tax Return Procedure

A Q： When to proceed estimate of property for profit-seeking enterprise in Taiwan? A： For the assets of a profit-seeking ...
Q Accounting Affairs Handled by Electronic Sources for Profit-seeking Enterprises

A Q： Is it necessary to get the approval of dealing accounting affairs through electronic sources in advance? If does, is ...
Q Punishment about Maintenance of Accounting Documents for Profit-seeking Enterprises

A Q： What the punishment would be faced for failure to maintain the accounting books by the prescribed regulations or plac...

FAQ

Hot Labels

SHARE

Taxation - Taiwan

Question

Answer

Related Articles