Taiwan Parliament Passes Bill to Amend Tax Collection Act

The Taiwanese Legislative Yuan Nov. 30, 2021, passed a bill to amend the Tax Collection Act. The bill includes measures to: 1) increase the criminal fine for instigating or helping in specific tax evasion cases to between NT$1 million (US$36,060) and NT$10 million (US$360,522), from NT$60,000 (US$2,163); 2) extend the application period for a tax refund to 10 years from five years for overpaid taxes, and limit the refund application period to 15 years from an indefinite period for claims due to governmental errors; 3) reduce the proportionate amount of tax payable that can be postponed for execution to one ...