On 27 October 2026, the NTBT reminded individual taxpayers that overseas-sourced income is not included in the National Taxation Bureau’s pre-filled income query system for Alternative Minimum Tax (AMT) purposes. Under the Income Basic Tax Act, taxpayers with overseas income exceeding NT$1 million must voluntarily include such amounts in their AMT calculation, even if the income is not captured in the Bureau’s electronic data exchange. Failure to self-report may trigger audits and penalties under Article 110 of the Tax Collection Act.
Key Takeaways
- System Limitation: The pre-filled income query system only covers domestic-sourced income reported by payers; overseas income is excluded.
- Self-Reporting Duty: Taxpayers must proactively aggregate foreign salary, investment, rental, and capital gains income for AMT Form 1040 filing.
- Penalty Exposure: Omission of overseas income may result in negligence penalties of 10% of underpaid tax, rising to 30% for intentional evasion.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement