- Many small and medium-sized family businesses in Taiwan have been found to use personal accounts to receive revenue without reporting it for tax purposes
- One company was caught using the owner’s personal account to receive revenue, resulting in a fine of over 4 million NT dollars
- Business owners are urged to review their accounts for any violations of tax laws and report and pay any missed taxes to avoid penalties
- For inquiries, people can call the free service hotline at 0800-000321 for assistance from the tax bureau
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.
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