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


Tax Related Laws & Regulations

Tax Act:
Enforcement Rules of the Income Basic Tax Act
Article 16
The terms "life insurance" and "annuity insurance" as used in  Subparagraph 2, Paragraph 1, Article 12 of the Act shall refer to the  life insurance contracts and the annuity insurance contracts coming into  force after 1 January, 2006. 

Regarding to the insurance referred to in Subparagraph 2, Paragraph 1,  Article 12 of the Act, if the aggregate amount of death insurance benefit  received by a taxpayer in a whole year is less than New Taiwan Dollar  Thirty Million (NTD30,000,000) such income shall not be included in the  amount of his/her consolidated income; whereas, if the foregoing  aggregate amount paid to the said taxpayer exceeds New Taiwan Dollar  Thirty Million (NTD30,000,000), then the portion of such insurance  benefit in excess of NTD30,000,000 shall be added in whole amount to the  aggregate amount of his/her consolidated income. 

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