On 31 July 2020, Taiwan’s Ministry of Finance (MOF) has issued a ruling prescribing that certain profit-seeking enterprises may apply for the exemption from their provisional income tax payment during the period from 15 January 2020 until 30 June 2020. The exemption is provided due to the ongoing COVID-19 pandemic.
To claim the exemption, eligible industries have to be recognized that they are eligible for relief due to the pandemic, and which has resulted in a sharp decline in their operating income over a short period of time.
Profit-seeking enterprises that already have applied for and obtained relief under these two guidelines before the provisional tax payment is due, they do not need to file an additional application to qualify for the exemption.
