08 May '25

Millions Hidden: Taiwan Food Retailer Faces Tax Penalties

A Taiwan food company faces hefty fines after hiding millions in revenue, sparking scrutiny from the Taipei National Taxation Bureau.

A food retail company in Taipei, Taiwan, specializing in prepared food products, has been penalized by the Taipei National Taxation Bureau (台北國稅局) for significant tax evasion. The company was found to have diverted approximately NT$74.7 million in revenue into the personal account of its owner. This action, coupled with the failure to issue invoices and the underreporting of sales, led to a thorough investigation.

The National Taxation Bureau determined that the company was attempting to conceal funds and evade tax obligations. As a result, the company was assessed additional business tax (營業稅) and penalties, totaling over NT$9.33 million.

The Bureau highlighted the discrepancy between the company's reported assets, which included only NT$80,000 in cash, NT$160,000 in deposits, and a small amount of interest, and its actual revenue figures. This disparity strongly suggested the deliberate concealment and transfer of assets to avoid tax responsibilities.

Other Versions

Justice • 08 Apr '25

A life in Taiwan

Millions Hidden: Taiwan Food Retailer Faces Tax Penalties

A Taiwan food company faces hefty fines after hiding millions in revenue, sparking scrutiny from the Taipei National Taxation Bureau.

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