Taiwan's Ministry of Finance issued a Chinese-language release on 26 January 2021 announcing a net profit rate reduction for companies impacted by the COVID-19 pandemic that experienced a reduction in net operating income of at least 30% in 2020 as compared to 2019. This includes that for qualifying companies, the applicable net profit rate will be 80% of the standard profit rate for the respective industry. For example, if the standard profit rate is 6%, companies meeting the 30% income reduction condition will have their net profit calculated based on a 4.8% profit rate. This simplified approach to determining taxable...