The Taiwanese Ministry of Finance March 28 explained the income basic tax obligation for individuals’ overseas income from Hong Kong and Macau. Individuals with overseas income must file an income basic tax declaration, if their annual income exceeds the NT$1 million (US$34,710) per household threshold. Individuals should report any underreported or missed income to the tax authority to avoid penalties and increased interest rates. [Taiwan, Ministry of Finance, 03/28/22]
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