Tax act amendment set to plug tax evaders’ loophole
By Chen Cheng-hui / Staff reporter
The Executive Yuan yesterday approved an amendment to the Tax Collection Act (稅捐稽徵法) that would increase fines for tax evasion, aiming to fix a loophole that allows tax evaders to get away with milder penalties.
Under the existing act, people found to have intentionally evaded paying their taxes face a fine of up to NT$60,000 (US$2,114) or five years in prison.
Some lawmakers have long said that the act allows room for “certain powerful people” to skirt the law after dodging billions in taxes.
A woman submits her tax documents at the Taipei National Taxation Bureau on May 1 last year.