Taiwan Accounting
and Auditing Services
Accounting and Auditing Services in Taiwan
Leveraging our extensive expertise in accounting and our proficiency in managing Taiwanese taxation matters, we are committed to offering our clients comprehensive, all-in-one services encompassing accounting, auditing, and taxation.
Accounting Services in Taiwan
The responsibility for maintaining accurate accounting records typically falls on company directors, who are often deeply immersed in the day-to-day operations of their businesses. Consequently, they often delegate the task of preparing financial reports to junior staff members. However, outsourcing accounting functions offer a practical solution to reduce overhead costs and enhance cost management for companies. The accessibility of professionally managed and promptly delivered financial accounts is paramount for company directors, empowering them to make informed business decisions aimed at increasing profits and attracting investors. Most importantly, this approach relieves them of the burden of staff recruitment and training in this regard.
Accounting requirements in Taiwan
For the majority of Taiwanese companies, the fiscal year aligns with the calendar year, spanning from January 1st to December 31st. Bookkeeping must be conducted in the local currency, the New Taiwan Dollar (NTD). All accounting records, supporting documentation, and financial statements must be prepared in the Chinese language.
Companies are expected to adopt the accrual basis for recognizing, measuring, and reporting financial transactions. Furthermore, it’s essential to retain all accounting records for a minimum of 5 years, with accounting books and financial statements preserved for at least 10 years following the conclusion of the year-end closing.
Our Services
- Monthly bookkeeping
- Comprehensive accounting services, including the creation of management accounts
- Resolving outstanding account issues
- Compilation of management accounts
- Collaboration with auditors and tax agents throughout the fiscal year-end process
Auditing service in Taiwan
Financial Audit
A financial audit conducted by a local CPA is required if the company meets any of the following criteria:
- Capital amounting to NTD$30 million or more
- A public company
- Annual sales of NTD$100 million or more
- Employing 100 or more personnel
- Holding a loan from a local bank valued at NTD$30 million or more
Tax Audit
A tax audit by a local CPA is necessary for companies meeting any of these conditions:
- Financial institutions
- Public companies
- Benefit from tax incentives and achieve annual sales of NTD$50 million or higher
- Make use of loss carryforwards
- Consolidated income tax filing under specific regulations
- Annual sales amounting to NTD$100 million or more
Capital Audit
Capital audits are obligatory when establishing a new Taiwan company or applying for capital increases or decreases for an existing Taiwanese company.
Our Independent Affiliate: Premia TNC CPA (Taiwan)
Premia TNC CPA (Taiwan), our autonomous partner, operates as a registered CPA firm situated in Taipei. Premia TNC (Taiwan) is dedicated to providing high-quality audits at competitive rates to meet clients’ legal and tax filing obligations effectively.
Frequently Asked Questions about Accounting and Auditing Services in Taiwan
No, there is no requirement to hire accounting personnel in Taiwan.
Outsourcing your accounting to a reputable firm ensures the meticulous maintenance of your financial records and provides protection in the event of an audit.
This is precisely why we consistently advise establishing your business for optimal success by engaging the services of a professional agency.
While there’s no strict requirement to merge accounting and tax filing services, it’s widely regarded as the most straightforward and efficient approach to business management. This is precisely why most agencies provide both services in a single package.
Combining these services streamlines your business operations, offering the advantage of centralization.
Consequently, when new transactions occur, supporting documents are prepared to fulfill the requisites of both accounting and tax filings, ensuring a seamless and organized process.
Premia TNC has the optimal solutions for all your business needs.
Get in touch today for a FREE consultation.
No hidden costs, no obligations.
Feel free to drop us an email too!
[email protected]
Premia TNC has the optimal solutions for all your business needs.
Get in touch today for a FREE consultation.
No hidden costs, no obligations.
Feel free to drop us an email too!
[email protected]
