Taiwan's Tax Regulation Improvement Plan for 2024
Minister of the Ministry of Finance(MOF), Ms. Chuang Tsui-Yun, reported to legislators on March 07,2024 about MOF’s improvement plans for 2024.
Recap of five tax regulations improvement are as below:
- Income Tax Act-
- Change the tax withholder from the representative to the company itself.
- Non-tax-resident withholding tax filing due date extends 5 days when it’s due on three-continuance national holiday.
- Value-added and Non-value-added Business Tax Act; Add regulations and penalty about companies which fail to upload EGUI information.
- Tobacco and Alcohol Tax Act; Removed the minimum penalty rate
- Vehicle License Tax Act; Lower the penalty rate
- Land Tax Act; Lower the certain penalty from 2% to 2% and below.
