Taiwan Clarifies Need to Deduct Non-Taxable Investment Income before Deducting Losses Carried Forward

The Taiwan Ministry of Finance has issued a notice to clarify the need to deduct non-taxable investment income before deducting losses carried forward.

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When reporting deductions for losses from the preceding ten years, it should be noted that investment income in the loss year must first be applied to offset such losses.

The Taxation Bureau of the Northern Area, Ministry of Finance (NTBNA, MOF), stated that, as stipulated in Article 39 of the Income Tax Act, when profit-seeking enter…