- Compensation or penalties from sales of goods or services are subject to VAT and business tax, requiring a uniform invoice and reporting.
- Sales and imports of goods in Taiwan are subject to business tax, including any additional fees in the taxable amount.
- Compensation or penalties not related to sales of goods or services are not subject to business tax.
- Penalties for underreporting or unpaid tax may be waived if the taxpayer voluntarily reports and pays with interest before an investigation.
Source: news.bloombergtax.com
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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