The National Taxation Bureau of the Northern Area （NTBNA）, MOF, stated that it will soon conduct controlled foreign corporation（CFC）audits for the year 2023（ROC Year 112） on profit-seeking enterprise income tax filings within its jurisdiction. Profit-seeking enterprises are reminded to review their filing details, and if there are any cases of underreporting of CFC investment income, they should promptly amend and file payment of tax...

National Taxation Bureau of the Northern Area, Ministry of Finance explained that, for maintaining basic living needs, there is a NT$210,000 basic living expense for each taxpayer, their spouse, and each dependent...

Profit-seeking enterprises reporting a business loss in its annual income tax return will still be penalized if found to have omitted or underreported income, even if there is no tax payable after adding the omitted or underreported income. Therefore, profit-seeking enterprises must file their annual income tax returns honestly...

The National Taxation Bureau of Taipei, Ministry of Finance, stated that in accordance with Paragraph 2 of Article 24 of the Income Tax Act and Article 108-2 of the Guidelines for Examination of Profit-Seeking Enterprise Income Tax, profit-seeking enterprises that have unpaid accounts payable, expenses, losses, or other types of debts that have exceeded the statute of limitations for claims and remain unpaid shall reclassify these amounts as other income in the year the statute of limitations expires. Upon actual payment, these amounts should then be recorded as non-operating expenses...