Taiwan Introduces Tax Incentives for Small Businesses Adopting Mobile Payments

The Ministry of Finance in Taiwan has introduced tax incentives for small businesses that adopt mobile payments.
Small businesses that adopt mobile payments can be exempt from the standard requirements for issuing unified invoices and can receive a tax rate of 1% if their monthly sales exceed 200,000 NTD.
The adoption of mobile payments by small businesses has increased due to the COVID-19 pandemic, as it reduces contact with consumers and allows for different payment methods.
To be eligible for the tax incentives, small businesses must accept payments through smart mobile devices, apply through authorized mobile payment providers, and agree to provide sales data to the tax authorities.
The tax incentives are applicable until December 31, 2025.
The Kaohsiung National Tax Bureau provides examples of businesses that have benefited from the tax incentives, such as a bakery that saw increased sales after adopting mobile payments.
The bureau encourages businesses to display mobile payment logos and actively promote the use of mobile payment devices at checkout.
Small businesses that have not yet adopted mobile payments are encouraged to consider the benefits and apply for the tax incentives.
For inquiries or assistance, individuals can contact the bureau’s toll-free service hotline or visit their website.

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.