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Profit-seeking Enterprises Affected by COVID-19 Are Exempt from Income Tax on Subsidies Provided by the Government.

  Minxiong Office, National Taxation Bureau of the Southern Area, Ministry of Finance indicated that, in accordance with Article 9-1 of the Special Act for Prevention, Relief and Revitalization Measures for Severe Pneumonia with Novel Pathogens (hereinafter as “the Act”), income tax shall be waived for subsidies, support, allowances, incentives, or compensation provided by the government to individuals or entities affected by the severe pneumonia with novel pathogens in accordance with this Special Act, Article 53 of the Communicable Disease Control Act, or other laws or regulations. Therefore, while profit-seeking enterprises are  impacted by COVID-19, subsidies received from the government based on the Act above are tax-exempted.

  Minxiong Office further explained that, in general, government subsidies paid to the profit-seeking enterprises shall be enumerated under “other revenue headings.” However, on April 21, 2020, in order to provide compensation and relief, Article 9-1 of the Act was added, which clearly stipulates that subsidies offered by the government due to COVID-19 are exempt from income tax.

  For additional information, please contact us through our toll-free number 0800-000-321. We are at your service.
Press Release Contact: Profit-seeking Enterprise Income Tax and Estate & Gift Tax Section, Mr. Chang
TEL: 05-2062141 ext.100  

Last updated:2020-11-03