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  • 2021-05-11

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2020/05 Taxation Important Measures

1.
Issuance of Decree No. 10904537810 by the MOF on 1 May 2020:
The amendments to Articles 3 and 4 of the “Directions for Taxpayer of the Estate Tax Inquiring about the Property Information of the Decedent” have been issued.

2.
Issuance of Explanatory Decree No. 10904558730 by the MOF on 4 May 2020:
An explanation of Article 66-9 of the “Income Tax Act” which stipulates rules regarding the calculation of the undistributed surplus earnings of a profit-seeking enterprise that adjusted retained earnings at the beginning of 2018 due to changes in the version of International Financial Reporting Standards has been issued.

3.
Issuance of Explanatory Decree No. 10904550440 by the MOF on 4 May 2020:
An explanation of Article 66-9 of the “Income Tax Act” which stipulates relevant rules that the estimated deficits due to the impact of COVID-19 in 2020 may be considered as a deduction from the undistributed surplus earnings in 2018 has been issued.

4.
Issuance of Explanatory Decree No. 10904502360 by the MOF on 8 May 2020:
An explanation of Article 23-3 of the Statute for Industrial Innovation which stipulates relevant rules regarding the calculations for the deduction of investment amounts from the current year’s undistributed earnings jointly declared by a company in accordance with Article 49 of the Financial Holding Company Act or Article 45 of the Business Mergers And Acquisitions Act beginning from 2018 has been issued.

5.
Issuance of Explanatory Decree No. 10800117831 by the MOF on 8 May 2020:
An explanation of Article 34 of the “Land Tax Act”, which stipulates that buildings whose area and number of floors of the additions are not registered in the certificate of improvement ownership may calculate the area of self-use residential land based on the document of house tax statement or the improvement survey result map issued has been issued.

6.
Issuance of Decree No. 10800117830 by the MOF on 8 May 2020:
The amendments of the “Directions for Recognition of Eligibility for The Tax Rate of The Land value Tax on Self-Use Residential Land” have been promulgated.

7.
Issuance of Decree No. 10904549140 by the MOF on 12 May 2020:
The amendment to Article 10 of “The Guidelines for Electronic-Filing of Collective or Large Payment of Stamp Tax Return” has been issued.

8.
Issuance of Decree Hua-tzung-1 Yi No. 10900049831 by the President on 13 May 2020:
The amendment to Article 11-1 of the “Tax Collection Act” has been promulgated.

9.
Issuance of Decree No. 10904556490 by the MOF on 13 May 2020:
“The Guidelines Governing the Reviewing Procedure of the Regional National Taxation Bureaus, Ministry of Finance for Accepting Tax Refund Applications for Overpaid Business Tax Claimed by Business Entities Affected by the Coronavirus Disease 2019 (COVID-19)” has been issued and became effective on 15 January 2020.

10.
Issuance of Decree No. 10900534630 by the MOF on 18 May 2020:
The amendment to Article 14 of the “Directions for the Electronic Filing of Individual Income Tax on House and Land Transaction” has been issued.

11.
Issuance of Decree No. 10904558000 by the MOF on 18 May 2020:
The amendments to Articles 2, 3, and 10 of the “Regulations Governing Application for Exemption from Profit-seeking Enterprise Income Tax by Private Institutions Participating in Public Infrastructure Projects” have been issued.

12.
Issuance of Explanatory Decree No. 10904546810 by the MOF on 22 May 2020:
An explanation of Article 24 of the “Income Tax Act” which stipulates relevant rules regarding the income tax declaration for a profit-seeking enterprise that would lease assets and adopt IFRS 16 “Leases” has been issued.

13.
Issuance of Decree No. 10904508980 by the MOF on 25 May 2020:
The revisions on partial provisions of the “Directions for the Electronic Filing of Tobacco and Alcohol Tax Returns” have been issued and became effective on 1 January 2020.

14.
Issuance of Decree No. 10800728440 by the MOF on 25 May 2020:
The revisions on partial provisions of the “Directions for the Electronic Filing of Commodity Tax Returns” have been issued and became effective on 1 January 2020.

15.
Issuance of Explanatory Decree No. 10804041780 by the MOF on 26 May 2020:
An explanation of Article 66-9 of the “Income Tax Act” which stipulates rules regarding the calculation of the undistributed surplus earnings of a profit-seeking enterprise that would acquire all shares of another subsidiary company owned by the parent company and offset retained earnings has been issued.

Issued:Tax Collection Adminisrative Division Release date:2020-06-30 Last updated:2020-06-30