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Taxation Administration,Ministry of Finance,R.O.C.Law Source Retrieving System of Taxation Laws and Regulations

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Tax Related Laws & Regulations

Tax Act:
Income Tax Act
Article 24-3
Content:
Where a shareholder, a member of the board of directors, or a supervisor of a profit-seeking enterprise organized as a company who receives money on behalf of the company and does not turn in the said sum within a reasonable period of time, or appropriates the sum for his or her own use, a tax shall be charged to the company for interest income based on the lending base rate of the Bank of Taiwan on January 1 of each respective period. However, if the aforesaid person has committed the offence of misappropriation, breach of trust or fraud against the company and has been charged with a lawsuit or prosecuted by the prosecutor, the company shall be exempt from the tax on interest income.
A company that lends money to a shareholder or any person without charging interest or charging the stipulated interest at an obviously low rate, except for paying in advance the salary to employees, shall calculate interest income based on the lending base rate of the Bank of Taiwan on January 1 of each respective period and an interest income tax shall be levied on the profit-seeking enterprise in accordance with this Act.
Visitor:1  Update:2018-04-19

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