“I will promulgate administrative orders later in the day that would allow companies affected by the pandemic to postpone paying business income tax by a year or pay in installments over three years,” Su said. Minister of Finance Su Jain-rong speaks at a meeting of the Legislative Yuan’s Finance Committee in Taipei yesterday. Companies whose revenues have fallen 10 percent from a year earlier would qualify to apply for tax deferrals, he said. The grace period would be extended to up to one year, Lee said, adding that people who are eligible could also opt to pay in installments. Government compensation of NT$1,000 per day for Republic of China citizens ordered into isolation or quarantine would be tax free, Lee said.

Source: Taipei Times March 16, 2020 15:56 UTC