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Individual income tax payers using transfer of tax payment mandate should set aside sufficient deposit to avoid additional interest

      The National Taxation Bureau of Taipei, Ministry of Finance, stated that the withdrawal process will start from 00:00 a.m. on June 9, 2023, for taxpayers who use transfer of tax payment mandate to pay the 2022 individual in-come tax return. Please make sure to check the account that you submit in your tax return for withdrawal before June 8, 2023, and set aside sufficient funds for the withdrawal.
      According to the National Taxation Bureau of Taipei, if withdrawal is not possible or insufficient due to errors in the taxpayer's information (e.g., incorrect ID card number, financial institution code or account number, or misuse of a closed account) or insufficient funds as of May 31, 2023, the National Taxa-tion Bureau will issue a payment notice to the taxpayer and notify the taxpayer of the deadline for payment. Interest will also be charged on the unpaid tax on a daily basis from the day after the deadline for payment of the tax until payment of the overdue tax within the prescribed period.
      For example, Mr. Wang, a taxpayer, uses transfer of tax payment mandate with his own deposit account to pay the tax amount of NT$8,000 for his 2022 individual income tax return. If the balance of the deposit account is only NT$3,000 as of the deadline for payment, which results in a shortage of withdrawals, the National Taxation Bureau will issue a payment notice to Mr. Wang for the shortfall of NT$5,000 within a prescribed period. In addition, the National Taxation Bureau will charge interest at a fixed rate of 1.475% based on the January 1, 2023 one-year time savings deposit rate for postal deposits, effective June 1, 2023 on a daily basis.
      The National Taxation Bureau of Taipei further stated that taxpayers who wish to learn more about the status of tax payment withdrawal can visit the Bureau's website (https://www.ntbt.gov.tw) from June 15, 2023 to April 30, 2024 via the following link 【Home/ the Freedom of Government Information/Tax Information Inquiry/Individual Income Tax/ the Status of Withdrawal for Individual Income Tax (link to the eTax Portal, Ministry of Finance)】to check the withdrawal status, or record the entries at the financial institution or post office where you have designated your account for withdrawal. If you have any tax payment questions, please call the toll-free service number 0800-000321, or contact the branch office or the collection office of the National Taxation Bureau where your household registration is located.

(Contact Person: Section Head Chang of the Collection and Information Management Division; Telephone: 2311-3711 Ext. 2120)

Last updated:2023-05-25