Best Tax Return Software In Taiwan: Explained
Embarking on the annual tax return journey in Taiwan becomes a breeze with the right digital companion. Looking for best tax return software in Taiwan? We’ve got you covered for this!
This guide unveils the best tax return software options available, designed to streamline the process for residents and expatriates alike. Whether you’re a seasoned taxpayer or navigating Taiwanese taxes for the first time, discover the user-friendly and efficient tools that can transform your tax filing experience.
Let’s dive in!
How Do You Get Your Taxes Back In Taiwan?
In Taiwan, filing tax returns at the end of the Year is preferable.
One can file tax returns via the following methods:
- Visit the e-filing Taiwan Tax authorities at the Ministry of Finance or submit the online form.
- Go to the taxation department physically.
- Take help from a tax consultant firm.
- Use online tax return software to file tax returns.
How To File Taxes Through Various Methods In Taiwan and Their Setbacks?
Before one uses any software, one needs to be aware that it follows the rules set by the government of Taiwan.
Setbacks Of The E-filing Government System
Taiwan has its e-filing system. People can access it through the Ministry of Finance’s Taxation Bureau site. The most significant setback of Taiwan is that it requires one to be familiar with the primary Chinese language.
Filing taxes online through the e-system of Taiwan’s government has become a significant setback for people who do not know the Chinese language. Consequently, they require a helper.
This dependency on the help of someone else makes the process non-confidential and more time-consuming.
Setbacks Of Physically Going To The Tax Office
It may be time-consuming, but there are setbacks to physically going to a tax office far from one’s residence. One might need to travel a long distance to reach the required destination.
After reaching the Taxation Office, one would need to wait in line to get help filling Tax returns.
Reaching Out To A Tax Consultation Office
One may hire the help of professionals. Accounting firms and Tax filing consultants can help fill out the Tax return forms and make sure to meet the deadlines.
However, they are expensive out of one’s pocket. If one can get free help for filing taxes that are also hassle-free, then why not access help which costs little?
That’s where Tax return Software comes in handy.
What Is A Tax Software?
Tax software is a digitized tool that helps one to file tax returns easily. It provides easy and direct guidance.
Each tax software has different features; some might support having tax deduction locators, prompt customer service, and importing tax forms.
How Does Tax Return Software Work?
Most of the tax software works similarly when filing tax returns. There are minor differences depending on the different software providers.
The usual steps to take while operating the tax return software are:
- Entering one’s income.
- Enter deductions like mortgage or business expenses or contributions.
- You should answer the questions the software asks.
- Add information directly to the tax form downloaded accordingly to the application.
Once one has filled in the required information in the tax return software, one can easily estimate whether one owes taxes or can ask for a return.
One must enter the banking details to pay taxes or receive a direct deposit to one’s bank account. It’s easier to file electronically to pay taxes and to receive returns.
Which Are The Best Tax Return Software In Taiwan?
One can only determine the best tax return software by considering different factors.
The factors include:
- Is the English Website & Support available for foreigners?
- How many Numbers of Tax Returns per Year does the software allow?
- Is the software suited for Self-Employed?
- Does the software offer a free Trial & Tax Calculation?
- Is there any estimated Time for Completion mentioned in the software?
- Can it quickly Transfer data from the previous Year?
- What is the Cost?
So, one needs to look at all the above factors before choosing the best Tax return software.
A few exclusively chosen Tax return software that provides information on the above-asked questions are given below:
TaxWise Tax Return Software
TaxWise is a convenient software for filing tax returns. It’s accessible anytime, anywhere. One can easily share data by photographing, uploading documents, or even entering indirectly.
Versatility is another efficient trait of this tax return software. With one’s expanding family and changing life choices, there can be an increase in buying or renting a house.
TaxWise offers a free trial first and then offers access to different versions. The prices of some services offered by desktop, mobile applications, and web apps differ. The details are listed below:
| TaxWise Online Version ($3,049) | TaxWise Desktop Version ($3,049) |
| Includes 400 Total Tax Returns | Includes 400 Total Tax Returns |
| Federal & State Individual 1040 | Federal & State Individual 1040 |
| Federal & State Business Returns (In TaxWise Desktop) | Federal & State Business Returns (In TaxWise Desktop) |
| Free Individual 1040 & Business E-File | Free Individual 1040 & Business E-File |
| $20 Per Individual 1040 Tax Return | $20 Per Individual 1040 Tax Return |
| $40 Per Business Tax Return | $40 Per Business Tax Return |
| Integrated Easy Interview | Integrated Easy Interview |
| CCH® AnswerConnect Mini Package | CCH® AnswerConnect Mini Package |
| Central Office Manager | Central Office Manager |
| E-Signature ($3.99 per event) | E-Signature ($3.99 per event) |
| Plus $59 Processing Fee | Plus $59 Processing Fee |
Kingdee KIS
Kingdee KIS is not just plain tax return software but a prominent cloud-based management software brand for micro businesses in China that can also offer its services in Taiwan.
Kingdee accounting software currently has three main versions offering different services and charges different fees:
- KIS mini version
- KIS standard version
- Kis Professional Edition
Yonyou (用友)
Yonyou is a multi-faceted software that provides multiple services for enterprises in accounting, treasury management, and financial services.
- Efficient Accounting System: It provides easy and convenient accounting and connection services.
- Compact Financial Services: It provides automatic accounting and access to real-time integrated financial data analysis services.
- Fast Electronic Accounting Document Service: This software provides storage and examination of data and other services for accounting files. It has two main versions:
- G3 financial management system V11.0
- G6 financial management system V12.1.
After reviewing all the information above, check out the Yonyou website!
Accounting Software Cost Comparison Table
| Accounting Software | Versions | Price |
| Kingdee KIS | KIS mini version | 2000 |
| KIS standard version | 3500 ~ 4000 | |
| KIS Professional Edition | 4000 ~ 7000 | |
| Yonyou (用友) | Yonyou G3 | service fee is charged at 20% |
| Yonyou G6 | service fee is charged at 20% |
EY TaxChat
EY TaxChat is a tax return software that amalgamates with the activity of an app and a consultant firm. One can quickly go on a digital journey by downloading the app or visiting the website to register.
After answering a few questions, one must upload the required tax documents. A committed EY tax professional follows up and finalises the details.
Because this app is an amalgam of tax return software and a consultancy firm, the services can be a little pricier.
One can use the Chat function to inquire about any queries. Once the process is completed, one can quickly approve one’s tax return for submission to the appointed authority.
Benefits Of Tax Return Software
There are many advantages of advancing technology. Tax return software falls back in a similar category.
The following are some advantages of tax return software:
✅ Saves Time: Having more time is the biggest luxury one can afford. Through tax software, one would need to stand in lines or travel long distances to reach any office.
Tax return software helps make the applications and consultations regarding tax returns within reach. One can take a few minutes to be done with all the applications.
✅ Navigation Tools: Tax return software also provides a navigation tool that helps give one direction as to what to do in filing the tax returns.
It gives step-by-step directions, allowing one to file the return taxes and help solve queries quickly.
✅ Cheaper: A helper or tax consultation firm would greatly help. But their pricier services make it improbable for many to seek help.
Tax return software usually offers free trials, and their services are easily affordable so that everyone can get paid versions of the software quickly.
✅ Increase In Compliance In Filing Tax Returns: When filing return taxes becomes more accessible, cheaper, and saves time, more people will try to comply with filing for tax returns.
Indeed, tax return software effectively increases people’s compliance in filing tax returns.
✅ Round-The-Clock Support And Updates: Filing tax returns can be cumbersome. So, one surely needs assistance most of the time. Tax return software usually offers real-time support and constant updates.
This type of effective customer service can benefit individuals filing tax returns. Indeed, it also shows the effectiveness of Tax return software.
✅ Enhanced Accuracy: Accuracy and ease of access to information are crucial for the data storage of millions of people in the country.
Tax return filing software can provide enhanced accuracy and more systematic data storage.
Impacts Of Tax Return Software On Taxpayers And The Government
Using tax return software is helpful to individuals on the micro level and governments as a whole.
The benefits the government gets when tax return software is used are:
✅ Empowerment
Using Tax return software empowers taxpayers. When taxpayers use the tax return software directly, they become more conscious about the whole procedure and system of tax filing.
They also get awareness about deductions and credits, exemptions, and other services, making them more educated about the financial system.
✅ Reduced Compliance Costs
When each individual continues using the tax return software individually, it reduces compliance costs overall.
People would not need to pay the government or any consultation for guidance in filing taxes. Nor would the government need to spend extra on the compliance costs of the citizens in filing return taxes.
✅ Efficient Data Collection
Online platforms provide a systematic way of storing data efficiently. There would be no hassle for the government; they’ll efficiently get the data of the individuals filing for tax returns.
✅ Enhanced Tax Enforcement
The use of tax return software provides an alternative to cheaper services. When the services are made cheaper, simpler, and more user-efficient, filing tax returns becomes easier.
Ultimately, it leads to an increase in tax enforcement.
✅ Remote Work Accessible
Tax software plays a crucial role as hybrid work becomes more prominent after the pandemic. Tax software systems should integrate better information, adhering to each country’s rules, reciprocal agreement, and reverse credit.
It will help to manage taxation for people who work remotely efficiently.
Cons Of In-Operating Tax Return Software
As there are advantages to anything, so are their disadvantages, but for tax return software, the advantages far outweigh the disadvantages.
Some of the challenges caused by using tax return software are given below:
❌ Data Security Breach: Though data storage has become more accessible and efficient in online software, data breach is also a constant threat. It needs to be countered with solid security measures.
❌ Privacy Concerns: With data breaches comes the disclosure of private information. The online platforms do make individuals worried about any breach of private information.
❌ Technological Infrastructure: The use of advanced technology, like tax return filing software, can only be possible if the places and the individuals are equipped with technological infrastructure. The absence of advanced technological infrastructure makes it hard for the software to work efficiently.
❌ User Resistance: Sometimes, the technological infrastructure of the countries and cities could be developed, but they can face user resistance. Tax-returning software will also decline if the users are ill-equipped or ill-read about using the technology or the software.
Conclusion
As we wrap up our exploration of the best tax return software in Taiwan, you’re now equipped with the digital arsenal to conquer tax season effortlessly. These tools not only simplify the process but also ensure accuracy and compliance with Taiwanese tax regulations.
Cheers to stress-free tax returns, empowering you to focus on what matters most – your financial goals in this dynamic East Asian hub.
Accuracy Redefined!
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