In a November 9 release, the National Tax Bureau of the Republic of China (Taiwan) states that Taiwan-based constituent entities of multinational groups meeting the relevant threshold must submit the master file or country-by-country report within one year of the end of the fiscal year.
It is not sufficient, the bureau notes, to have disclosed the information in the income tax return that was due this past June for the 2020 fiscal year.
The bureau further explains that, while paper filing is permitted for the master file and country-by-country report, it highly recommends filing using either the internet-based e-filing system or on CD-ROM. The e-filing system has been available since May for filing both the master file and country-by-country report, the bureau reports, and “is more convenient and time-saving.”
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