Once a company is set up in Taiwan, some taxes and premiums are due every month, VAT is filed every two months, and each year brings withholding statements, the annual corporate income tax return and provisional tax. The table below shows what a company needs to do in each month; the current month is highlighted in yellow.
These are statutory deadlines. They move to the next working day when they fall on a holiday; the authorities’ announcement for each year applies. A VAT return must be filed for every period, even when there were no sales.
What to do every month
- By the 10th: pay the income tax withheld in the previous month.
- By the end of the month: pay the previous month’s labor insurance and health insurance premiums and the NHI supplementary premium.
- Before the 15th of each VAT month (odd months): send us the purchase and sales invoices and receipts for the previous two months.
What Songjer CPA does for you
- Organize receipts, keep the books and prepare the ledgers
- File VAT, withholding tax, the annual corporate income tax return and provisional tax on the deadlines above, and tell you what to pay
- Withhold and pay the NHI supplementary premium
- Annual financial statements; CPA audit or tax certification when needed (quoted separately)
- For foreign companies: withholding on dividends and payments abroad, tax treaty relief applications, and reports that fit the parent company’s closing schedule
For a quote, tell us your company name, business activities and roughly how many invoices you issue and receive each month, and contact us.
How we make sure your books are done right
First: experienced staff. Every accountant who handles client books has at least 5 to 15 years of hands-on accounting experience. We hire carefully, require our accountants to attend regular courses at the CPA association and accounting education foundations, and discuss cases together within the firm to build practical experience.
Second: strict review. We use standard working forms. Your books are prepared by an accountant, then reviewed by the accounting manager and the CPA before closing and filing. A backup system means your questions are never left waiting while someone is on leave.
Third: plain explanations. We ask our staff to explain difficult accounting and tax issues from the user’s point of view, so that managers without an accounting background can quickly understand the latest financial information.
Fourth: client feedback. We regularly ask clients for feedback and take every complaint, comment and suggestion seriously: we record, investigate and respond to each one promptly. Client satisfaction is what our service is for.
Frequently asked questions
1. Can we change accountants in the middle of the year?
Yes. We help obtain the books and filed returns from your previous accountant, take over from the handover period, and connect the two periods when closing the year.
2. Do we need to file VAT if we had no sales?
Yes. VAT is filed every two months, and a return is required for every period even if there were no sales. Late filing is subject to a late filing surcharge.
3. When do we need a CPA audit?
A company whose net operating revenue plus non-operating income reaches NT$100 million in a year must have its corporate income tax return audited and certified by a CPA. Banks, parent companies and investors also often ask for CPA-audited financial statements.
4. How do bookkeeping and tax filing differ for a Taiwan subsidiary and a branch?
Both must keep books in Taiwan and file VAT and corporate income tax. A subsidiary is a Taiwan company, so dividends paid to the foreign parent are subject to withholding tax. A branch is part of the foreign company, so remitting its after-tax profits to the head office is not subject to withholding tax.