New Personal Tax Deduction Effective January 2024
The Ministry of Finance has announced 2024 January effective new personal tax deduction.
Summarized as below:
| Deduction/Exemption | From January 01st ,2024 |
| Basic Living Expense per person | Increase from NTD$196,000 to NTD$202,000(Note) |
| Non-taxable meal allowance per person per month | Increase from NTD$2,400 to NTD$3,000(Note) |
| Corporate Income Basic Tax exempt | Increase from NTD$500,000 to NTD$600,000(Note) |
| Exemption of Personal Income Tax |
|
| Standard Deduction of Personal Income Tax | Increase from NTD$124,000 to NTD$131,000 |
| Salary and Disable Special Deduction of Personal Income Tax | Increase from NTD$207,000 to NTD$218,000 |
| Personal Income Basic Tax exempt | Increase from NTD$6,700,000 to NTD$7,500,000 |
| Personal Death Insurance compensate exempt of person income tax | Increase from NTD$33,300,000 to NTD$37,400,000 |
| Pre-School child Special deduction of person income tax |
|
| Rental Expense deduction per family |
|
Note: effect 2024 May filing’s 2023 income tax return.
