- Individuals selling used cars and motorcycles must register for tax purposes and pay business tax.
- The Central Region National Taxation Bureau notes the rise in new vehicle prices has boosted the used car market.
- Frequent sales of used vehicles for profit require tax registration before starting business.
- Sales in Taiwan are subject to business tax registration and payment.
- If buying used vehicles from individuals, sellers must provide purchase documents to avoid double taxation.
- A case was found where an individual frequently sold used cars, reaching a sales amount of 5.6 million NTD over two years.
- The individual was required to pay a 5 percent business tax, totaling 280,000 NTD.
- After calculating deductible input tax, the individual owed an additional 10,000 NTD in business tax.
- The bureau urges individuals frequently selling used vehicles to register for tax 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.
