VATupdate

Share this post on

Monthly Sales Reaching Taxable Threshold: Online Sellers Must Apply for Tax Registration

  • Online sellers with monthly sales reaching the threshold for business tax must apply for tax registration
  • Individuals selling goods or services online for profit should disclose their business name and tax ID on their sales page
  • If monthly sales do not reach the tax threshold, registration may be temporarily exempted
  • To protect consumer rights and increase transparency, sellers must clearly disclose their business name, tax ID, domain name, website address, and member account
  • Tax authorities will conduct audits on online transactions starting from April 1, 2024 to prevent tax evasion and maintain fairness
  • Sellers who unintentionally underreport sales should voluntarily report and pay the owed taxes and interest to avoid penalties

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: