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What are the provisions on tax rates for profit-seeking enterprise income tax?

The details of the formulas for minimum taxable amount, tax rates and tax payable for profit-seeking enterprise income tax starting 2018 are as follows

Tax Bracket  Total Taxable Income for the Year  Tax Rate

Level 1     NT$ 120,000 or less       Exempted

Level 2     More than NT$ 120,000       20%

 

Note: 

1. T = Tax amount; P = Taxable income

2. If the total taxable income exceeds NT$120,000, the income tax rate shall be 20 %.However, the income tax payable shall not exceed one half of the portion of taxable income more than NT$120,000.

3.Where the total taxable income of a profit-seeking enterprise is more than NT$120,000 but not more than NT$500,000, the income tax rate shall be in accordance with the following provisions and shall not apply the preceding provisions. However, the income tax payable shall not exceed one half of the portion of taxable income more than NT$120,000.

(1)The income tax rate for taxable year 2018 shall be 18%.

(2)The income tax rate for taxable year 2019 shall be 19%.  

Taxable year

Taxable Income

The formulas

2018

P≦120,000

120,000 <P ≦187,500

T=P− 120,000)∕ 2

187,500 < P ≦500,000

T= P× 18 %

P>500,000

T= P× 20 %

2019

P≦120,000

120,000 <P ≦193,548

T=P− 120,000)∕ 2

193,548< P ≦500,000

T= P× 19 %

P>500,000

T= P × 20 %

Last updated:2019-05-01