On Jan. 16, 2025, TAI GVT said businesses in Taiwan must transmit electronic invoice information to TAI GVT platform within specified timeframes from Jan. 1, 2025.
TAI GVT established timetable, scope for transmitting electronic invoice information.
Businesses are encouraged to update their information systems, workflows promptly to meet the new requirements; non-compliance after grace period could lead to penalties.
On Aug. 7, TAI GVT amended business tax laws re electronic invoice.
TAI GVT and TAI Justice revised Value-added and non-value-added business tax act.
Amendments
Businesses must store electronic invoices and necessary related information on a designated service platform, with details on timing, scope to be specified by TAI GVT.
Set fines ranging from NTD 1.5k to NTD 15k for businesses that fail to comply with e-invoice regulations, with possibility of recurrent penalties for repeated offenses.
Amendments include changes in terminology to align with other laws, and updated methods for calculating penalties on late tax payments according to Tax collection act.
Aims to ensure proper tax deductions, facilitate consumer access to invoice, transaction details, maintain accuracy of invoice lottery system, simplify reporting for accountants.
Effectiveness
The implementation date will be decided by the Executive Yuan.
Sep. 2024 Commencement
On Sep. 2, 2024, TAI Justice said that Executive Yuan issued order on Aug. 30, 2024 to finalize the implementation date of the amended act to be Jan. 1, 2025.
Dec. 2024 Reminder
On Dec. 18, 2024, TAI GVT said businesses must transmit electronic invoice data and related information to the e-invoice platform of TAI GVT within specified time limits.
The deadlines for transmission are 2 days for non-business purchasers, 7 days for business purchasers, and 10 days for unused invoice numbers and company codes.
Seller is responsible for transmitting data re sales returns, cancellations, or discounts.
6-month grace period, from Jan. 1 to Jun. 30, 2025, will be given to allow businesses to adjust to new rules for handling sales returns and discounts without penalties.
Jan. 2025 Timeframes
On Jan. 16, 2025, TAI GVT said businesses in Taiwan must transmit electronic invoice information to TAI GVT platform within specified timeframes from Jan. 1, 2025.
TAI GVT established timetable, scope for transmitting electronic invoice information.
Businesses are encouraged to update their information systems, workflows promptly to meet the new requirements; non-compliance after grace period could lead to penalties.
Regulators
TAI GVT; TAI Justice
Entity Types
Auditor; Corp
Reference
PR 1/16/2025; PR 12/18/2024; PR 9/2/2024; RF EY No. 1131022439, 8/30/2024; PR, RF President No. 11300068911, 8/7/2024
