Taiwan MOF Extends Tax Deductions for Smart Machinery, 5G Investments

The Taiwanese Ministry of Finance July 26 extended the tax deduction for smart machinery and 5G investments until Dec. 31, 2024, and included investments in cyber security products or services in its scope between Jan. 1, 2022, and Dec. 31, 2024. The announcement includes: 1) the requirement for the taxpayer’s total expenditures to be between NT$1 million (US$33,342) and NT$1 billion (US$33 million) in the same tax year to claim a tax deduction; and 2) that the deductions are capped at 30 percent of the enterprise income tax payable per tax year. [Taiwan, Ministry of Finance, 07/26/22]

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