- When a business closes, if it uses inventory and assets to pay off debts or distribute to shareholders or contributors, it must issue a unified invoice.
- When a profit-making business closes, if it uses inventory and fixed assets to offset debts and distribute to shareholders or contributors, it must issue a unified invoice based on the market value to pay business tax.
- The Kaohsiung National Taxation Bureau of the Ministry of Finance gave an example of a company using inventory and a small truck to offset debts when closing, and failing to issue an invoice, resulting in a penalty for not reporting and paying business tax.
- The bureau reminds businesses to promptly issue and report any missing invoices before being caught by the tax authorities to avoid penalties under the Tax Collection Act.
Source: mof.gov.tw
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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