Taiwan (TW)

Jurisdiction Overview

189 *Are annual accounts submitted to a public authority? Except for small companies, annual accounts need to be submitted to a public authority.
 Data Date: 2019


Data warning: Taiwan has not yet been reviewed by the Global Forum.
According to the International Federation of Accountants (IFAC), the Taiwan Company Act "requires all companies to prepare financial statements in accordance with Republic of China Generally Accepted Accounting Principles (ROC GAAP)" (www.ifac.org). According to the Direction governing Corporate Income tax and Liquidation Electronic filing (p.21), all companies have to file their financial statements with the tax return. The exception is for a non-public small company (the subtotal amount of annual net operating revenue and non-operating revenue are less than NTD 30 million) which has paid income tax with its pre-tax profit rate over a governmental prescribed rate, and then it does not need to submit its annual accounts along with the tax return immediately, but still is required to prepare detail accounts and provide them when the tax authority initiates investigation (fia.gov.tw). Given the excepton for non-public small company, we consider that not ALL companies are required to submit their accounts to a public authority.


Companies Act: Articles 20 and 228
Enterprise Income Tax Law of the People's Republic of China, 2007, Article 54.