- Businesses subject to assessed business tax for Q4 2024 must declare deductible input tax certificates by January 5, 2025.
- Only input tax certificates obtained for business use and declared within the deadline are eligible for a 10% deduction from the assessed tax.
- Certain input taxes (e.g., for non-business use, entertainment, or personal vehicles) or late/incorrect period declarations are not deductible.
- Example: A business with NT$12,000 input tax for Q4 can deduct NT$1,200 from its NT$3,600 assessed tax if declared on time, paying only NT$2,400.
- The tax authority urges businesses to collect proper invoices and declare them on time to benefit from tax deductions.
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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