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Taiwan Clarifies Treatment of Labor Retirement Reserve Fund Balance Upon Settlement

|Approved Changes|Taiwan
Taiwan

Taiwan's Ministry of Finance has issued a notice to clarify that any remaining balance of an enterprise's Labor Retirement Reserve Fund must be reported as "other income" upon settlement, if the enterprise is dissolved or has no employees entitled to pensions.

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For profit-seeking enterprises, upon settling the Labor Retirement Reserve Fund, the remaining balance should be reported as oth…

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