Recently, Taiwan’s National Taxation Bureau (NTBT) published that the requirement to announce, on an income tax return, profits for an off-plan property transaction cannot be escaped non-residents is involved. They also specified that, even any income received from off-plan properties (properties before the accomplishment of construction); also those incomes will take account of in the annual amount of and be calculated for income tax.
Additionally, if a taxpayer willingly files an additional tax statement and makes extra payment covering the undeclared tax amount, the taxpayer may be exempt from any or all of the relevant penalties if someone not under investigation by an investigator appointed by the tax authorities or the Ministry of Finance.
