- Amendments to the Value-Added and Non-Value-Added Business Tax Laws were announced on August 7, 113, with an effective date of January 1, 114.
- The focus of the amendments is on requiring businesses to issue electronic invoices and store necessary information on the electronic invoice integration service platform.
- Penalties are in place for businesses that do not comply with the requirements for issuing electronic invoices.
- The amendments aim to ensure that consumers can easily access and verify cloud invoices and maintain the accuracy of lottery databases.
- Businesses that do not comply with the regulations may face fines ranging from NT$1,500 to NT$15,000.
- The Ministry of Finance urges businesses to issue electronic invoices in a timely manner and accurately store the necessary information to avoid penalties.
- The Ministry of Finance will work on developing or amending related regulations to align with the amendments, and will promote awareness through local tax bureaus.
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.
