Taiwan's Ministry of Finance has issued a notice on the requirement to submit proper financial statements or other supporting documents by the deadline when declaring CFC losses, otherwise, the losses will not be recognized. The deadline is the annual tax return deadline, with a maximum extension of up to 6 months, which must be applied for.
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Profit-Seeking Enterprises Failing to Submit CFC Financial Statements on Time Could Face Significant Losses
The Controlled Foreign Company (CFC)…