Taiwan MOF Explains Taxable Revenue Threshold for VAT Registration, Payment for Online Sellers

The Taiwanese Ministry of Finance March 31 explained that taxpayers making online sales who meet specified thresholds must register for VAT and pay business taxes. The explanation includes: 1) the requirement for sellers to register when monthly sales exceed NT$80,000 (US$2,789) from the sale of goods or NT$40,000 (US$1,394) from the sale of services; 2) the 1 percent business tax on the monthly sales amount; 3) businesses with less than NT$200,000 (US$6,975) in average monthly sales are billed by the tax agency and must make quarterly payments; and 4) businesses with average monthly sales over NT$200,000 must file bimonthly returns ...