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Taiwan Provides Guidance on Personal Income Tax Deductions

11 October 2021

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Approved Changes

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Taiwan

Taiwan's Ministry of Finance has issued a release providing guidance on personal income tax deductions. --- For personal income tax return filing, could the choice of claiming standard deductions be changed to claiming itemized deductions? The National Taxation Bureau of Taipei, Ministry of Finance said that, in accordance with Paragraph 2, Article 25 of the Enforcement Rules of the Income Tax Act, if a taxpayer has chosen to claim the standard deduction when filing the individual income tax return, or has not indicated in the tax return filing whether the deduction is an itemized deduction or a standard deduction, it...