Agricultural Development Act Article 47-1

Farms and agricultural cooperatives legally registered with the competent authority by farmers shall be exempted from profit-seeking enterprise income tax for selling self-produced primary agricultural products.The primary agricultural products of the preceding paragraph shall be prescribed by the central competent authority in concert with the Ministry of Finance.The regulations with respect to qualifications, conditions, contents, procedures, documents to be presented, and other related matters of the registrations of farms and agricultural cooperatives in the first paragraph shall be prescribed by the central competent authority.The implementation period of profit-seeking enterprise income tax exemption in the first paragraph shall be within 5 years from the amendment on November 11, 2016.The Executive Yuan may, in 6 months before the exemption period expired, decide to extend or terminate the exemption period based on actual situation.