As the clock ticks down on today's deadline for filing tax returns almost 40 percent of Taiwan taxpayers had yet to face up to the taxman.
Forty percent, or 1,954,066 of Taiwan's 5 million single and joint filing taxpayers still had not filed their returns by late Wednesday, setting up for the usual frantic last-minute flood of people to besiege taxation offices around the nation.
If by chance you haven't managed to file by the end of today there will be a penalty imposed. However, unlike in the US where penalties can be steep, the Taiwan tax administration will only impose a maximum penalty of 15 percent charge on the total taxable income due.
The penalty accrues by 1 percent every two days the return is filed late up to the maximum 15 percent. For example, if you file next Monday you will be charged an extra 1 percent of your total taxable income due.
Despite the ministry's target that 900,000 taxpayers would make use of the new online filing system, only 285,204 people had availed themselves of this service by Wednesday.
Addressing some confusion among foreign residents working in Taiwan about where to file, the tax authority pointed out in a statement that alien workers living outside Taipei or Kaohsiung should file their returns at their local district's tax administration office.
Of the nation's 4.8 million single and joint filing taxpayers, 800,000 of them reside in Taipei City.
Tax office hours will be extended to 7pm today and the online tax-filing program will be available until midnight.
HORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’ The United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp said it was lowering production at its oil fields and refineries after “Iranian threats against safe passage of ships through the Strait of Hormuz.” The war in the Middle East has all but closed Hormuz, the narrow waterway linking the Persian Gulf to the open seas,
Nanya Technology Corp (南亞科技) yesterday said the DRAM supply crunch could extend through 2028, as the artificial intelligence (AI) boom has led the world’s major memory makers to dramatically reduce production of standard DRAM and allocate a significant portion of their capacity for high-bandwidth memory (HBM) chips. The most severe supply constraints would stretch to the first half of next year due to “very limited” increases in new DRAM capacity worldwide, Nanya Technology president Lee Pei-ing (李培瑛) told a news briefing. The company plans to increase monthly 12-inch wafer capacity to 20,000 in the first half of 2028 after a
Taiwan has enough crude oil reserves for more than 100 days and sufficient natural gas reserves for more than 11 days, both above the regulatory safety requirement, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) said yesterday, adding that the government would prioritize domestic price stability as conflicts in the Middle East continue. Overall, energy supply for this month is secure, and the government is continuing efforts to ensure sufficient supply for next month, Kung told reporters after meeting with representatives from business groups at the ministry in Taipei. The ministry has been holding daily cross-ministry meetings at the Executive Yuan to ensure
Property transactions in the nation’s six special municipalities plunged last month, as a lengthy Lunar New Year holiday combined with ongoing credit tightening dampened housing market activity, data compiled by local land administration offices released on Monday showed. The six cities recorded a total of 10,480 property transfers last month, down 42.5 percent from January and marking the second-lowest monthly level on record, the data showed. “The sharp drop largely reflected seasonal factors and tighter credit conditions,” Evertrust Rehouse Co (永慶房屋) deputy research manager Chen Chin-ping (陳金萍) said. The nine-day Lunar New Year holiday fell in February this year, reducing
RSS