- The Ministry of Finance has announced that small businesses who adopt mobile payments will receive tax incentives.
- Small businesses with monthly sales exceeding NT$200,000 will still be subject to a 1% business tax and exempt from using uniform invoices.
- As of December 31, 2023, there are 17,635 small businesses eligible for the tax incentives.
- The tax bureau will monitor the compliance of businesses with the regulations and may revoke the tax incentives if they fail to meet the requirements.
- Reasons for revoking the tax incentives include businesses voluntarily opting out, refusing to accept mobile payments, not using authorized mobile payment providers, and not providing sales data to the tax authorities.
- Businesses are encouraged to remind customers to use mobile payment devices and display the mobile payment logo at checkout.
- More information can be found on the Ministry of Finance’s website and local tax bureau websites. For inquiries, a toll-free service hotline is available.
Source: mof.gov.tw
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.
