The Taiwanese Ministry of Finance addressed the issue of unreported VAT on imported items.
The clarification includes:
- Taxpayers can’t deduct the VAT amount imposed by customs due to underreporting of the taxable value of imported goods
- If a company operator discovers incorrectly stated non-deductible input tax, the taxpayer must file a supplemental declaration.
- Interest rates may be imposed without penalty for taxpayers who pay the evaded tax before the tax authority conducts an audit or inquiry.
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