On 30 November 2021, Taiwan’s Ministry of Finance (MOF) has issued a press release as a reminder to the taxpayers for submitting Master Files (MF) and Country-by-Country (CbC) reports.
The profit-seeking enterprises that meet the conditions and use the calendar year as their fiscal year shall submit Master Files and CbC reports with respect to the fiscal year 2020 by 31 December 2021. Failure to comply with the filing requirements means that the company will be liable to penalties between NTD 3,000 to NTD 30,000.