The Ministry of Finance (MOF) in Taiwan has announced an extended deadline for business tax payments covering the fourth quarter of 2024 and January 2025. This adjustment accommodates the Lunar New Year holidays, a key cultural celebration across the region, which take place from January 25 to February 2, 2025.
To ensure businesses can settle their taxes without pressure during the festive period, the payment window has been extended to run from February 14 to February 24, 2025. Since February 23 is a Sunday, the final payment date has been set as February 24, 2025, allowing an additional day for compliance.
Why This Extension Matters
The MOF recognizes the importance of allowing businesses flexibility during the Lunar New Year, a time when many operations slow down for festivities. This decision not only eases administrative burdens but also fosters goodwill by providing business entities with extra time to meet their tax obligations without penalties.
Key Deadlines and Regulations
Here’s what taxpayers in Taiwan need to know:
- Tax Notices Issued By: January 31, 2025
- Original Payment Period: February 1–10, 2025
- Extended Payment Period: February 14–24, 2025
Late payments made after February 24, 2025, will incur penalties, so it’s crucial for businesses to adhere to the revised schedule.
Convenient Payment Options
The MOF offers multiple channels for taxpayers to settle their dues quickly and efficiently:
- In-Person Payments: Available at convenience stores and bank counters.
- Digital Methods: Including financial chip cards, credit cards, mobile payments, and electronic transfers.
- ATMs: Directly from current or savings accounts.
Note: Payments made after February 24, 2025, can only be completed at bank counters.
Penalties for Late Payments
Businesses are reminded to meet the deadline to avoid penalties:
- 1% Late Fee: Charged for every three days past the deadline.
- Maximum Penalty: 10% of the total amount for payments delayed by 30 days or more.
- Escalated Enforcement: Overdue payments beyond 30 days may trigger enforcement actions under the Tax Collection Act.
Important Reminder for Auto Transfers
For businesses using designated financial or postal accounts for automatic tax transfers, the MOF urges careful planning:
- Ensure sufficient funds are available in your account by midnight on February 24, 2025.
- Be aware of potential scams—tax authorities will never call to verify account balances. Always confirm directly through official channels.
Global Perspective: A Forward-Thinking Policy
This policy reflects Taiwan’s commitment to supporting businesses, particularly during a culturally significant time like the Lunar New Year. The extended deadline demonstrates a balance between administrative efficiency and taxpayer convenience, solidifying the government’s reputation for responsiveness and consideration.
Contact for Queries
For further assistance, businesses can contact Section Chief Miss Lee at +886-2-2322-8133.
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Taiwan extends its Q4 2024 and January 2025 business tax deadline to February 24, 2025, due to Lunar New Year holidays. Learn revised dates, payment options, and penalties.
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Catchy Titles:
- Taiwan Extends Business Tax Deadline for Lunar New Year – Don’t Miss Out!
- Key Updates: Taiwan’s Business Tax Deadline Moved to February 24, 2025
- Business Tax Deadline Extended in Taiwan – Here’s What You Need to Know
