Taiwan Ministry of Finance Revises Penalty Amounts for Tax Violations

• The Ministry of Finance in Taiwan has revised the “Reference Table for Penalty Amounts or Multipliers for Tax Violation Cases” for the Value-Added Tax and Non-Value-Added Tax.
• The revisions aim to ensure fair penalties for tax violation cases and protect the rights of taxpayers.
• The key revisions include adding and specifying penalty multipliers for intentional violations and reducing penalties for cases where taxes have been paid before the penalty is determined.
• For violations related to underreporting sales amounts using electronic invoices or electronic payment accounts, the penalty multiplier will be reduced from 0.25 to 0.12 if taxes have been paid before the penalty is determined.
• For violations related to underreporting dividend income, the penalty will be 0.25 times the amount of tax evaded, or 0.12 times if taxes have been paid before the penalty is determined.
• These revisions apply to cases where penalties have not been determined by the tax authorities.

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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