Q：
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How to deal with the amount of tax refund from the custom or revenue service office for the amount of paid taxes which was listed as original costs in the declaration for profit-seeking enterprises in Taiwan?
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A：
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In the condition of tax refund for the amount of paid taxes which was listed as original costs received at the same year of taxation, the amount of refund shall be offset with the original items. If such amount of refund is received at the next year of taxation, the amount shall be listed as non-operating income of the year of tax refund. The taxation of import of foreign materials shall be listed as original costs to declare and the amount of tax refund from customs for finished products shall be written down under the original item. If the amount of tax refund is not received at that fiscal year, the estimated amount of refund shall be listed as deduction of original costs. To whom exports the finished products at that next year shall be listed as deduction of original costs from the amount of received tax refund or estimated amount of tax refund.
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Q：
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How long the losses or expenses payables shall be changed into income for profit-seeking enterprises in Taiwan?
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A：
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For those who failed to pay the expenses or losses payable within the valid period, such losses or expenses payable shall be listed into other income items and listed as non-operating business expenses upon the payment proceeded.
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Q：
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What things shall be aware of in the declaration of expense of interest for profit-seeking enterprises in Taiwan?
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A：
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The thing shall be aware of in the declaration of as following:
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1.
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The interests incurred from the unnecessary non-operating loans are not allowed to list as expenses or losses.
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2.
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The borrowed expenses without the real name, address of debtor in the accounting record is not allowed to recognize.
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3.
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The interests of loans borrowed from the industries not affiliated with financial industries shall not exceed the maximum amount of interest rate regulated by Ministry of Finance. The maximum amount of interest rate does not exceed 1/3” monthly in 2021.
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Q：
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What things shall be aware of in the declaration of investment losses for profit-seeking enterprises in Taiwan?
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A：
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1.
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The losses of investment are only recognized for those which were realized. The paid capital without deduction is not allowed to be listed as losses.
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2.
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All investment of losses shall come with the proof of remuneration of losses, consolidation, bankruptcy, or liquidation. However, the invested foreign enterprise without any practical business activity shall prepare the proof of losses from invested foreign enterprises for enterprises with practical business activities. Such proof shall come with the proof issued by Taiwan Ministry of Foreign Affairs, the commercial office or other international trade entities in the designated country. For enterprises in China, the proof shall come with the certificate issued by Mainland China Council affiliated with Executive Yuan or other entities or institutions which are responsible for the business affairs between Taiwan and China.
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3.
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In the condition of remuneration of losses for invested foreign enterprises occurred, the basis date shall be the date of resolution by shareholders to decrease the capital which approved by the competent authority. In contrast, for those without the necessity of approval by the competent authority shall set the basis date as the date of resolution by shareholders to decrease the capital. Besides, enterprises which is made a ruling by the court to decrease the capital, the basis date shall be the date of ruling to reshape the enterprise by the court.
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4.
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In the condition of loss investment from consolidation, the basis date shall be the date of consolidation.
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5.
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In the condition of loss investment from bankruptcy, the basis date shall be the date of bankruptcy ruled by court.
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6.
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In the condition of loss investment from liquidation, the basis date shall be the date of the liquidation statement acknowledged by shareholders or board of shareholders after the liquidator finish the procedure of liquidation by laws.
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Q：
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What the things shall be aware of in the declaration of losses from sale or exchange of property for profit-seeking enterprises in Taiwan?
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A：
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The things shall be aware of in the declaration of losses from sale or exchange of property as following:
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1.
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In the condition of the value of property before deprecation more than the price of sale, the difference be listed as the losses from sale of property.
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2.
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The amount of exchange of property shall be written down in the accounting record in current price. In the condition of losses from such exchange, the losses shall be recognized as well.
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3.
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The losses from the sale price of central government bonds, financial institutions bonds, stocks issued by enterprises or corporate bonds less than the original price can be listed as losses from sale of property, but the losses from transaction of securities in the period of cessation of taxation is not allowed to be removed from the individual income.
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FAQ
