Enforcement Rules of the Income Basic Tax Act Article 16

The terms "life insurance" and "annuity insurance" as used in Subparagraph 2, Paragraph 1, Article 12 of the Act shall refer to the life insurance contracts and the annuity insurance contracts coming into force after 1 January, 2006.Regarding to the insurance referred to in Subparagraph 2, Paragraph 1, Article 12 of the Act, if the aggregate amount of death insurance benefit received by a taxpayer in a whole year is less than New Taiwan Dollar Thirty Million (NTD30,000,000) such income shall not be included in the amount of his/her consolidated income; whereas, if the foregoing aggregate amount paid to the said taxpayer exceeds New Taiwan Dollar Thirty Million (NTD30,000,000), then the portion of such insurance benefit in excess of NTD30,000,000 shall be added in whole amount to the aggregate amount of his/her consolidated income.