A:

1. Profit-seeking enterprises should follow the regulations of "Regulations Governing the Accounting Books and Vouchers of Profit-seeking Enterprises Managed by the Competent Tax Authorities"(hereinafter referred to as “governing regulations”) to set up accounting books, record, give, acquire and keep related vouchers.
2. If profit-seeking enterprises do not follow “governing regulations” to set up and record accounting books, except for cases in accordance with Article 45 of “Tax Collection Act,”  the collection authority must notify them to make corrections within a specified time limit; if compliance is not met within the specified time limit, the collection authority must determine the amount of the income in accordance with Article 83 of “Income Tax Act”.
3. The accounting books set up by profit-seeking enterprises, except those which are related to unsettled accounting events, must be kept for at least ten years after the completion of annual closing procedures. But accounting books that are destroyed or vanished for disaster caused by force majeure, and approvals from tax authorities are obtained are exceptions. All the accounting documents, except those which should be permanently kept or which are related to unsettled accounting events, must be kept for at least five years after the completion of annual closing procedures.