Q：
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How to compute the inventory value of profit-seeking enterprises income in Taiwan? Is it necessary to file?
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A：
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The estimated price of goods, ingredients, materials, in-processing goods, finished goods and sides products shall be the original expenses of such inventory goods. As the original expenses is higher than the net realizable value, the net realizable value shall be prevalent; the loss on inventory goods shall be listed into the costs of sales. The definition of net realizable value shall be the net value from the expected settlement date of profit-seeking enterprise to sell inventory goods. The way of computing original expenses is dependent on the category or nature of such inventory goods to apply the formula of specific identification, fist-in-first-out, weighted average, moving average or other methods recognized by the competent authority. However, the same category or nature of inventory goods is not allowed to be applied the same formula to estimate the price.
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Q：
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What the requirements of consumables of materials for the manufacturing industry in Taiwan to verify the accounting records?
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A：
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The account book shall be written in accordance with Regulations Governing the Accounting Books and Vouchers of Profit-seeking Enterprises Managed by the Competent Tax Authorities for Manufacturing industry. The record of feed, requisition, return of goods, products, labor forces, manufacturing fees shall be kept well internally for verification. The producing date statement, production orders and costing statement shall be prepared for the verification of the quantity of consumable materials by the responsible person of manufacturing and accounting as the verified accounting records.
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Q：
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What is the criteria to recognize the quantity of consumable materials for the manufacturing industry in Taiwan?
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A：
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The question can be divided into the following two conditions:
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1.
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According to the 1st item of article 58 in Profit-seeking Enterprises Income Tax Verification Regulations to prepare the record and account book, the quantity of consumable materials shall be verified as the related accounting records.
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2.
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According to the 1st item of article 58 in Profit-seeking Enterprises Income Tax Verification Regulations to prepare the record and account book, the quantity of consumable materials excesses the standard quantity among the same industries, which excessive quantity shall not be recognized after the investigation of Revenue Service Office, except for those who can present a rational reason.
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The criteria of abovementioned consumable materials shall be verified by Ministry of Finance. In contrast, those who failed to verify with such criteria shall be verified with the condition of consuming quantity of machines, equipment, procedure, quality of materials among the same industries. For those without the criteria to refer to among the same industries, such enterprises shall be verified dependent on the record of verification in the last year, except for those who were audited by Reviewing Declaration on Tax Returns Expanding to the Cases Qualified for the Standards Issued by the MOF.
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Q：
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Is it accessible to list the irrelevant fees of profit-seeking enterprises in Taiwan?
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A：
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The household expenses and other expenses of belated reporting surcharge, non-reporting surcharge, belated surcharged and fines pursuant to variety of tax laws are not allowed to be justified and listed into expenses or losses, except for the expenses incurred from the profit-seeking enterprises management or other related businesses.
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Q：
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What are the requirements of original certificate of declaration of losses and expense for profit-seeking enterprises in Taiwan?
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A：
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The certificate of losses and expenses are receipts which shall be stated the nature of loss, amount, date, the name, address, uniform number and other necessary items of mutual persons, except for the way of fill-in regulated as the article 9 in Regulations Governing the Use of Uniform Invoices. If such receipts certified by the other dealer, the nature of loss, amount, date, the name, address, uniform number and other necessary items shall be stated clearly and signed or stamped.
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