National Taxation Bureau of the Southern Area, Ministry of Finance stated that, profit-seeking enterprises which suspended business in taxable year 2019 should file its annual income tax return to the tax collection authority-in-charge from May 1 to June 30, 2020 (due to the impact of COVID-19, the deadline for income tax filing has been postponed to June 30, 2020).
The Bureau further expressed that, in accordance with Article 79 and Article 108 of Income Tax Act, where a profit-seeking enterprise fails to file an annual income tax return within the prescribed period but has subsequently filed it within fifteen days from the date of receipt of the delinquent notice, it will be levied a delinquent reporting surcharge in an amount equal to ten percent of the tax payable investigated and determined by the collection authority (the amount of delinquent reporting surcharge shall not exceed NT$30,000 but shall not be less than NT$1,500). Where the profit-seeking enterprise further fails to file an annual income tax return within the time limit as mentioned above, and the amount of taxable income and the amount of tax payable have been determined by the collection authority based on the available data or the profit standard of the same trade, the collection authority will levy a delinquent reporting surcharge in an amount equal to twenty percent of the tax determined as payable (the amount of delinquent reporting surcharge shall not exceed NT$90,000 but shall not be less than NT$4,500).
The Bureau would like to issue a reminder that, in order to avoid being levied a delinquent reporting surcharge, profit-seeking enterprises suspending business in a taxable year should remember to file an annual income tax return.
Press Release Contact: Ms. Wu, First Examination Division
TEL: 06-2223111 ext.8035