OrbitaxOrbitax

Taiwan Clarifies Tax Treatment of Repair Expenses

|Approved Changes|Taiwan
Taiwan

Taiwan's Ministry of Finance has issued a notice clarifying the correct tax treatment of repair expenses. The notice explains that repair expenses reported for tax purposes must reflect actual costs incurred and be correctly classified as either operating expenses or capital expenditures. Unrealized expenses or losses, such as estimated repair costs not yet incurred, cannot be recognized. Furth…

Continue Reading