TDCC’s New and Improved One-stop Financial Inheritance Inquiry Service
As of July 1st 2020, “One-stop Financial Inheritance Inquiry Service” has been officially implemented throughout the country. Members of the public can acquire this one-stop service at the service counter of any branch or office of the taxation bureau. For the past two months, throughout Taiwan, over 10,000 family members have benefited from the taxation bureaus’ service as the inheritance tax filing process has become more streamlined.
As TDCC Legal Affairs & Compliance Senior Vice President Yuan-Hua Hsiao points out, TDCC’s aim of this project is is increased efficiency and convenience. Therefore, as of July 1st, through an electronic hotline built between TDCC and the Ministry of Finance’s Fiscal Information Agency, TDCC has begun to receive inquiries from taxation bureaus in all five areas across the country every Tuesday and Friday. In addition, automatic document retrieval can be conducted on the same day of an inquiry, and results can be sent to applicants within two business days. Applicants receive a complete and integrated record of assets with closing price and converted mounts of securities included. Now, information is easier to read, and the inheritance tax filing process is more efficient.
TDCC SVP Yuan-Hua Hsiao further indicates that since July 1st, 2020, the number of cases processed by TDCC has exceeded 8,400. To keep applicants updated on the application process, TDCC has set up a webpage that went live on August 25th exclusively for process inquiry on its official website. On the webpage, applicants only need to provide the ID numbers of the applicant and the deceased relative and their date of death to check the status of their application. Member of the public who have applied for the inquiry service can take advantage of this function to track the application’s latest progress.