- Businesses should be penalized separately for the different violations of purchasing without proper documentation and failing to issue invoices
- If caught, businesses may face fines up to 5% of the total amount for not obtaining proper documentation for purchases and for failing to issue invoices during sales
- An example from the Kaohsiung National Tax Bureau involved a business that failed to issue invoices and underreported sales, as well as did not obtain proper documentation for purchases
- The business was fined for underreporting sales and failing to issue invoices, as well as for not obtaining proper documentation for purchases
- It is important to note that failing to obtain proper documentation for purchases and failing to issue invoices during sales are separate violations and should be penalized accordingly
- For any questions or doubts about the regulations, individuals can call the toll-free service number 0800-000-321 for assistance.
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.
Latest Posts in "Taiwan"
- Businesses Must File Sales and Tax Returns on Time, Even with Zero Sales Amount
- Taiwan Sets NTD Conversion Rules for Foreign-Currency Accounting in Business Tax Filings
- Declare Corporate Goods at Customs: Avoid Penalties When Entering Taiwan with Company Items
- Businesses Must Calculate Deposit Interest and Issue Invoices for Rental Deposits, Says Tax Authority
- Online Sellers Must Register for Tax if Monthly Sales Reach Threshold, Disclose Business Info
