The IRS reminds stock investors not to sleep on their tax refund rights!

The Northern District National Taxation Bureau of the Ministry of Finance stated: During the period of comprehensive income tax declaration, people often call to ask whether they do not need to declare because their total annual income does not meet the tax standard and there is no withholding tax. They think that since there is no compensation or refund, do they not need to declare?

The bureau explained that it was the income tax declaration period in May, and Ms. Li called to inquire. Her total income in 2014 was only NT$200,000 (the same below), which did not meet the tax standard. She wanted to confirm whether she did not need to file an income tax return. After further understanding the source of Ms. Li's income, it was found that part of it was dividend income. The bureau specifically reminded that since 2018, individuals who receive dividends or surpluses distributed by companies, cooperatives or other legal persons based on their surpluses in 1998 or later years can use 8.5% of the total amount of dividends and surpluses of the entire household to calculate the tax deduction amount. The deduction amount for each household is limited to NT$80,000. If the difference between the tax deduction amount and the tax payable is greater than the tax payable, a tax refund can be applied for. Ms. Li was then guided to use her mobile phone to log in to the "Comprehensive Income Tax Mobile Filing" website. The calculation result showed that she could get a tax refund of NT$8,500. After Ms. Li confirmed that the information was correct, she immediately selected "Direct Dial (Transfer) Tax Refund" to fill in the deposit account and successfully completed the mobile tax filing.

The bureau reminds that even if the annual income does not reach the income tax threshold, people who have dividend income should not forget to confirm whether there is any tax refund. They must complete the income tax declaration procedure before they can get a tax refund. Don't let your tax refund rights fall asleep. If you choose to use "direct transfer tax refund", you only need to fill in the financial institution or post office deposit account when declaring, or check the deposit account that was successfully used for tax payment (refund) in the previous year's settlement declaration. The tax refund will be directly remitted to the designated account after verification by the National Tax Bureau, which saves time, is safe and convenient. If you have any questions, please call the free service number 0800-000321 for consultation.

Contact person for press release: Mr. Wang, Section Chief of Collection and Information Division Contact number: (03) 3396789 ext. 1180