- Tax Registration Requirement: Taiwan’s Ministry of Finance has clarified that individuals selling goods or services through social media must register for tax if their sales exceed the taxable thresholds of NTD 80,000 for goods or NTD 40,000 for services, to avoid back taxes and penalties.
- Compliance Guidelines: Individuals are required to provide specific information when registering, including their domain name, IP address, and details from their internet service provider. They must also clearly display their business entity name and uniform serial number on their sales platforms.
- Enforcement and Penalties: The National Taxation Bureau will utilize AI technology to monitor compliance among online sellers. Those who fail to register and exceed sales thresholds may face significant penalties, but individuals who voluntarily declare and pay any owed taxes may be exempt from penalties if not currently under investigation.
Source Orbitax
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