Companies Must Issue Invoices and Pay Business Tax When Selling Company-Owned Cars

• Companies must issue a uniform invoice and pay business tax when selling originally purchased passenger cars for personal use.
• Even if the selling price is lower than the original purchase price and input tax was not deducted, a uniform invoice must still be issued.
• Failure to issue an invoice and pay tax will result in penalties in addition to back taxes.
• Cars purchased for personal use by senior employees are not eligible for input tax deduction.
• Sales of such cars within the Republic of China are subject to business tax unless specific exemptions apply.
• Companies can avoid penalties by voluntarily issuing invoices and paying taxes before any investigation.
• For inquiries, a free service phone number 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.

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