Amendment toughening penalties for tax evasion clears legislature

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Taipei, Nov. 30 (CNA) Taiwan’s Legislative Yuan on Tuesday passed an amendment to the Tax Collection Act, which introduces a fine of up to NT $ 100 million ($ 3.59 million) in major cases of ‘tax evasion.

The amendment, which passed its third reading in the legislature, increases the maximum fine for tax evasion by fraud or other illegal practices from NT $ 60,000 to NT $ 10 million, and imposes stricter penalties for others types of tax evasion.

For example, in major cases, people who do not pay NT $ 10 million or more in taxes and businesses that avoid NT $ 50 million or more may be fined NT $ 10 million to NT $ 100 million. and face a prison sentence of one to seven years.

However, the bill also relaxes the surtax for overdue tax payments, lowering the maximum rate from 15% to 10% for a period of 30 days, after which it reverts to 15%.

In addition, the bill authorizes the granting of financial rewards to persons who provide information enabling the tax authorities to eradicate tax evasion and evasion, with a maximum of NT $ 4.8 million per case. This provision excludes tax officials and family members of tax control officials.

(By Fan Cheng-hsiang and Lee Hsin-Yin)

Final element / AW


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