VATupdate

Share this post on

Important! Apply for tax registration before opening for business to avoid penalties.

  • Businesses must apply for tax registration before opening
  • During the busy summer season, popular food establishments attract large crowds
  • National Taxation Bureau reminds businesses to register for business tax
  • Failure to register may result in fines ranging from NT$3,000 to NT$30,000
  • Businesses must register if they have a physical location or sell goods online
  • Failure to register may result in penalties and back taxes
  • Example of a business fined for failing to register and underreporting sales
  • Businesses with monthly sales over NT$80,000 must pay business tax
  • Businesses with monthly sales over NT$200,000 must issue uniform invoices
  • Businesses are urged to check if they have complied with tax registration requirements
  • For inquiries, contact the nearest tax office or call the toll-free service number 0800-000321

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.

Sponsors:

VAT news

Advertisements:

  • AXWAY - VATupdate Banner