Daily Tax Report: International

Taiwan MOF Clarifies Tax Accounting Treatment of Interest on Construction Loan

Oct. 10, 2019, 5:54 PM

The Taiwanese Ministry of Finance Oct. 9 clarified that the interest paid on loans related to the construction of fixed assets should be capitalized and not treated as a current expense. The clarification explained that the interest payable upon completion of the construction can be expensed in the current period after the license or receipt of construction is received. [Taiwan, Ministry of Finance, 10/09/19]

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