Taiwan payment file layouts

Mobile-payment providers are expanding beyond their traditional customer base of adults aged to younger adults aged , and even older adults, he says. Still, some small businesses remain resistant to non-cash payments. In recent weeks, Taiwan Business TOPICS visited several retail outlets that ostensibly accept credit cards and mobile payments, only to discover that cash was required to purchase specific items.

At an outlet of the Mama How baby goods store, a clerk insisted that only cash could be used to purchase certain diapers. The clerk said that by accepting only cash for the product, the store could offer a lower price to consumers.

Similarly, at the The staff members said that because the price was a special offer, transactions had to be settled in cash. Taxis are another problem area. Drivers are often reluctant to accept digital payments, sometimes claiming that their POS machines are out of order. Charles Wei, a taxi driver in Taipei City, says it takes five days for him to get paid for a fare settled with JKoPay, a delay he finds irritating.

Your email address will not be published. Businesses may request approval from the local collection authority to file CIT returns using a fiscal year-end other than 31 December.

Tax returns are filed on a self-assessment basis. CIT returns are due no later than five months after the end of the tax year. Tax is paid on a self-assessment basis in two instalments. However, if the taxpayer meets certain requirements, it may self-assess the provisional tax based on the taxable income of the first half of the current fiscal year and deduct income taxes paid overseas against the provisional income tax payable if corresponding income is consolidated in the provisional tax return.

The second payment is made at the time of filing the annual tax return. The returns are subsequently reviewed by the tax authorities, and a final assessment is issued.

Taiwan does not have a fixed audit cycle. Tax audit can be carried out any time prior to the expiration of the statute of limitations.

Companies may be selected for audit if certain criteria are met. The statute of limitations in Taiwan is five years from the tax return filing date if the return is filed on time. Where a taxpayer fails to file an annual tax return within the statutory deadline or evades tax by fraud or any other unrighteous means, the statute of limitations is extended to seven years. Corporate taxpayers may file an advance tax ruling application with the tax authorities, together with the relevant supporting documents, to clarify their tax position before initiating the specific transaction.

Either QI, or a banking or securities association in The Republic of China, may request an amendment of this item 4. QI shall follow the procedures set forth below and also any procedures added by an amendment to this item 5 as agreed to by the IRS to confirm the identity of account holders that do not open accounts in person or who provide new documentation for existing accounts other than in person.

Either QI, or a brokerage or securities association in The Republic of China, may request an amendment of this item 5.