- When a sole proprietorship changes its responsible person and transfers inventory and fixed assets to the new person, business tax must be reported and paid.
- The transfer of inventory and fixed assets is considered a sale and requires issuing a uniform invoice at fair market value and paying business tax within 15 days.
- The new responsible person can use the invoice to claim input tax deduction.
- Failure to issue invoices and report tax can result in penalties, but self-reporting before investigation can exempt from punishment.
- For tax questions, contact the tax office hotline or use the online tax assistant.
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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