I run a business in the south. I am the sole owner. I have an ARC based on this business. I went to a company in Taipei who did all grunt work in setting it all up. I am now in the process of reapplying for an ARC extension. I was informed that I didn’t make the required 3 million in turnover for me to extend. What are my options?
This definitely isn’t a recommendation on Forumosa to engage in legally dubious practices, but I believe that some people overdeclare their income and pay the associated taxes (easier for certain businesses, of course). You shouldn’t do that though, obviously.
Would it no be legal to just buy stuff from your self to generate turnover? You or course loose on this in taxes but I don’t see why it would be illegal? I mean lets say you run a pizzeria, sell your self a 1 million ntd pizza, pay the 5% invoice and declare it as turnover. Then pay it as salary to your self (again paying more tax). I don’t see anything illegal about it?
As you must have read between the lines here, you can generate this revenue artificially, pay taxes on it and then you clear the 3 million.
However, you have to plan it carefully to avoid problems with the tax authority.
seek professional advice, maybe there is a grace period you can ask for.
The picture explains it. The banana was duct-taped to the wall! One of a kind art that is very expensive.
The unassuming banana unleashed total chaos on Miami. Not one but two collectors purchased editions of the work in the fair’s opening hours on Wednesday. The dealer then raised the price on the third edition to $150,000, and sold it to a collector who will donate it to a museum.
Yea. If they’re already at the end of the line, it is gonna be significantly harder to pull this off and the authorities are not gonna believe in Christmas miracles.
I didn’t make the 3 million because I only opened in may of this year . I spent 5 months looking for location and then renovating the place. Admittedly Covid played into my decision as I own a small bakery selling pastries with dine in facilities
I’m not looking for dubious practices. Turnover for 5 months is 2.1 million but 5 months were wasted spent looking for a location and renovation. Officially we opened on Mother’s Day this year but the company was registered 5 months prior
My CPA is pretty good but on matters of dealing with foreigners and working permits she’s not really up to date. The business is doing well and I don’t really want to close it and over a 12 month period I will easily hit the 3 million threshold, it’s just that it won’t fall within 1 fiscal year