VATupdate

Share this post on

Calculation of unreported business tax amount and consequences of not providing valid purchase receipts

  • Calculation of the amount of business tax evasion is limited to the previously declared input tax amount
  • Cannot claim deduction of output tax amount discovered in the current investigation after presenting legitimate input tax certificates
  • Taxpayers must submit sales amounts and pay business tax on time, regardless of whether they have sales or not
  • Tax evasion is determined based on information obtained by the tax authority, including declared input tax amounts and calculated input tax amounts
  • Taxpayers can delay reporting legitimate input tax certificates for deduction to the next period
  • Taxpayers should proactively report any missed sales amounts or output tax before being investigated to avoid penalties
  • Taxpayers can seek assistance by calling the toll-free service hotline or visiting the tax bureau’s website for inquiries.

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.

Sponsors:

VAT news

Advertisements: