OrbitaxOrbitax

Taiwan Clarifies that Fines Imposed for Regulation Violations Cannot Be Deducted as Expenses or Losses

|Approved Changes|Taiwan
Taiwan

Taiwan's Ministry of Finance has issued a notice clarifying that fines imposed for regulation violations cannot be deducted as expenses or losses.

---

Fines Imposed on Profit-seeking Enterprises Can Not Be Deducted as Expenses or Losses

When profit-seeking enterprises are fined for violating regulations, these fines can not be reported as expenses or losses on annual income tax declaration…

Continue Reading