Taiwan Clarifies Construction Businesses May Not Reduce Project Payments by Fines for Delayed Work When Issuing Invoices and Paying Business Tax
Taiwan's Ministry of Finance has published a notice explaining that a construction business settling fines for the late competition of projects must issue invoices and pay business tax based on the full project payment amount in cases where the business opts to offset the payment by the fine amount (i.e., the actual payment received is less than the full project payment amount due as result of…
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