Taiwan Accounting
and Auditing Services
Expert Financial and Auditing Services in Taiwan
Our expertise in accounting, coupled with our deep understanding of Taiwan’s tax system empowers us to deliver comprehensive solutions in auditing, taxation and accounting to our valued clientele.
Outsourced Taiwan Accounting Services
The Directors of a company bear the legal obligation of maintaining correct accounting records. However, immersed in the daily operations of their business they often delegate the creation of financial reports to less experienced staff. By outsourcing their accounting functions businesses can achieve significant overhead reduction and enhanced cost efficiency. Timely and professionally prepared accounts are instrumental for Directors to formulate robust business strategies, increase profitability and attract potential investors. The added benefit of outsourcing is that it absolves them of the burden of hiring and training personnel specifically for this purpose.
Regulations for Accounting in Taiwan
The majority of companies in Taiwan operate according to the calendar year, from January 1st to December 31st. Accounting records should be maintained in the local currency, the New Taiwan Dollar and all financial statements, supporting documents and accounting books must be drafted in Chinese.
Companies are required to adopt the accrual accounting method for recognition, measurement and reporting purposes. All accounting records should be preserved for a minimum of five years while accounting books and financial statements should be kept for at least ten years post the finalization of year end closing.
Our services include:
- Book-Keeping on a monthly basis
- Accounting and generation of management accounts
- Clearing of back-log accounts
- Creation of management accounts
- Coordination with tax agents and auditors during fiscal year end
Taiwan Auditing Services
In Taiwan, three types of audits are recognized: financial, tax and capital audits.
Financial Audit
A local CPA must carry out a financial audit of a company’s financial statements if any of the following conditions apply:
- Capital exceeds or equals NTD$30 million
- Public company
- Annual sales exceed or equal NTD$100 million
- The company has 100 or more employees
- Loans from local banks exceed or equal NTD$30 million
Tax Audit
A local CPA must conduct a tax audit on a company’s corporate income tax return if any of the following conditions apply:
- Financial institutions
- Public companies
- Companies with tax incentives and annual sales equal or surpass NTD$50 million
- Companies that claim or utilize loss carry forward
- Companies that file consolidated income tax under specific laws
- Companies with annual sales equal or exceeding NTD$100 million
Capital Audit
A capital audit is mandatory for new companies setting up in Taiwan and for companies applying for an increase or decrease in capital.
Premia TNC CPA (Taiwan), our associated entity is a registered CPA firm based in Taipei. Premia TNC aims to provide top-tier audit services at competitive prices to satisfy our clients’ tax and legal filing needs.
Frequently Asked Questions
No, it’s not a requirement. By outsourcing your accounting tasks to a professional firm you can ensure meticulous record-keeping and adequate protection during audits. Therefore, we advocate securing your business’s future by partnering with an expert agency.
While it’s not mandatory to consolidate your tax filing and accounting services, doing so usually offers the most efficient and streamlined approach to business operations.This is why many agencies bundle both services together.
Such an approach enhances your business efficiency by centralizing all tasks under a single umbrella. It ensures that supporting documents are readily available for any new transactions fulfilling both accounting and tax filing prerequisites.
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]
