The President of Taiwan has officially revised and promulgated key provisions of the Value-Added and Non-Value-Added Business Tax Law (Business Tax Law) on 7 August 2024. These amendments aim to enhance the compliance of electronic invoicing and improve consumer rights.

Amendment to the Business Tax Law include:

  1. The updated regulations pertain to the submission (deposit) of electronic invoices and associated information to the Electronic Invoice Integrated Service Platform.
  2. In the context of B2B transactions, it is essential that e-invoices and the necessary information be submitted to the platform within a period of seven days. Conversely, for B2C transactions, e-invoices and the required information must be provided to the platform within two days.
  3. If a business fails to submit e-invoices and associated information, or does not adhere to the specified deadlines, a penalty ranging from TWD 1,500 to TWD 15,000 will be enforced.