Benefits and Regulations to engage profit-seeking Enterprises Income Tax Return Assessed and Certified by CPA(a. k. a. Tax Audit)
A. Industries with high turnover and low net income ratio, or those with turnover which is close to or exceeds NT$ 30 millions.
Benefit:Increase the limits of deductible expenses
B. Those who may need to setoff profits to reduce tax burden in the current year or future years.
Benefit: Losses can be carried to setoff future profits for 10 years. (Tax Audit should apply to both loss years and profit years.)
C. Those who meets the requirements in Article 3 of Regulations for Profit-seeking Enterprise Income Tax Return Assessed and Certified by CPA:
a. Financial Industry
b. Public listing companies
c. Having tax free benefits and annual turnover exceeds NT$ 50 millions.
d. Annual net operating income and non-operating income exceeds NT$100 millions.
1. Reduce the risks of tax investigation by Tax Authorities.
2. After an investigation by the tax authorities, the amount of tax evaded less than NT$20,000 is exempted from the penalty.
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