v3.24.1
Income Tax (Tables)
 12 Months Ended
Dec. 31, 2023
Text block [abstract]  
Summary of Major Components of Income Tax Expense
The major components of income tax were as follows:
 
   
For the Year Ended December 31
  
   
2021
    
2022
    
2023
  
   
NT$
    
NT$
    
NT$
    
US$ (Note 4)
  
Current income tax
        
In respect of the current year
   $ 14,533,570     $ 16,251,844     $ 10,117,252     $ 330,413  
Income tax on unappropriated earnings
     3,684,138       844,855       (3,449,958 )     (112,670 )
Changes in estimate for prior years
     (129,152 )      (211,631 )      (67,074 )      (2,190 ) 
 
 
 
    
 
 
    
 
 
    
 
 
  
    18,088,556       16,885,068       6,600,220       215,553  
 
 
 
    
 
 
    
 
 
    
 
 
  
Deferred income tax
        
In respect of the current year
     (95,906 )      185,726       (1,352,999 )      (44,187 ) 
Changes in tax rates
     18,337       (4,425 )      2,763       90  
Changes in estimate for prior years
     16,625       2,481       35,465       1,158  
Effect of foreign currency exchange differences
     (83,840 )      76,684       18,514       605  
 
 
 
    
 
 
    
 
 
    
 
 
  
    (144,784 )      260,466       (1,296,257 )      (42,334 ) 
 
 
 
    
 
 
    
 
 
    
 
 
  
Income tax expense recognized in profit or loss
   $  17,943,772     $  17,145,534     $   5,303,963     $     173,219  
 
 
 
    
 
 
    
 
 
    
 
 
  
Summary of Reconciliation of Income Tax Expense
A reconciliation of income tax expense calculated at the statutory rates and income tax expense recognized in profit or loss was as follows:
 
   
For the Year Ended December 31
  
   
2021
    
2022
    
2023
  
   
NT$
    
NT$
    
NT$
    
US$ (Note 4)
  
Profit before income tax
   $ 80,193,769     $ 81,763,628     $ 42,611,823     $ 1,391,634  
 
 
 
    
 
 
    
 
 
    
 
 
  
Income tax expense calculated at the statutory rates
   $ 33,697,736     $ 35,906,719     $ 18,763,311     $ 612,780  
Nontaxable expense (income) in determining taxable income
     357,936       (177,734 )      1,132,092       36,972  
Tax-exempt
income
     (14,578,355 )      (14,789,999 )      (7,369,986 )     (240,692 )
Additional income tax on unappropriated earnings
     3,684,138       844,855       (3,449,958 )     (112,670 )
Income tax credits
     (1,654,821 )      (2,514,002 )      (1,921,721 )      (62,760 ) 
The origination and reversal of temporary differences
     78,544       1,304,931       69,767       2,278  
Income tax adjustments on prior years
     (112,527 )      (209,150 )      (31,609 )      (1,032 ) 
Unrecognized deferred tax liability for temporary differences associated with investments
     (6,135,120 )      (3,523,716 )      (2,557,436 )      (83,522 ) 
Unrecognized loss carryforwards
     288,025       271,730       455,437       14,874  
Withholding tax
     87,175       31,900       12,433       406  
House and land transactions income tax
     —        —        201,633       6,585  
Land value increment tax
     117,341       —        —        —   
Capital gains tax
     2,113,700       —        —        —   
 
 
 
    
 
 
    
 
 
    
 
 
  
Income tax expense recognized in profit or loss
   $  17,943,772     $  17,145,534     $   5,303,963     $     173,219  
 
 
 
    
 
 
    
 
 
    
 
 
  
Summary of Income Tax Recognized Directly in Equity
  b.
Income tax recognized directly in equity
 
                
                
                
                
   
For the Year Ended December 31
  
   
2021
    
2022
    
2023
  
   
NT$
    
NT$
    
NT$
    
US$ (Note 4)
  
Deferred income tax
  
 
           
 
  
 
            
 
  
 
            
 
  
 
           
 
Related to employee share options
  
$
(9
) 
  
$
— 
 
  
$
— 
 
  
$
— 
 
 
 
 
    
 
 
    
 
 
    
 
 
  
Summary of Income Tax Recognized in Other Comprehensive Income
  c.
Income tax recognized in other comprehensive income
 
                
                
                
                
 
 
For the Year Ended December 31
 
 
 
2021
 
 
2022
 
 
2023
 
 
 
NT$
 
 
NT$
 
 
NT$
 
 
US$ (Note 4)
 
                
                
                
                
Deferred income tax
  
 
           
 
  
 
           
 
  
 
           
 
  
 
          
 
Related to remeasurement of defined benefit plans
  
$
(19,319
) 
  
$
(208,482
) 
  
$
(2,214
) 
  
$
(72
)
Unrealized gain (loss) on equity instruments at fair value through other comprehensive income
  
 
(160,084
) 
  
 
370,091
 
  
 
(262,404
)
  
 
(8,570
)
Unrealized loss on debt instruments at fair value through other comprehensive income
  
 
— 
 
  
 
— 
 
  
 
(5,792
) 
  
 
(189
) 
 
 
 
    
 
 
    
 
 
    
 
 
  
Income tax recognized in other comprehensive income
  
$
(179,403
) 
  
$
161,609
 
  
$
(270,410
)
  
$
(8,831
)
 
 
 
    
 
 
    
 
 
    
 
 
  
Summary of Current Tax Assets and Liabilities
  d.
Current tax assets and liabilities
 
   
December 31
  
   
2022
    
2023
  
   
NT$
    
NT$
    
US$ (Note 4)
  
Current tax assets
      
Tax refund receivable
   $ 623,470     $ 363,226     $ 11,862  
Prepaid income tax
     125,049       542,119       17,705  
 
 
 
    
 
 
    
 
 
  
  $ 748,519     $ 905,345     $ 29,567  
 
 
 
    
 
 
    
 
 
  
Current tax liabilities
      
Income tax payable
   $  18,360,792     $   9,667,755     $    315,733  
 
 
 
    
 
 
    
 
 
  
Summary of Movements of Deferred Tax Assets and Deferred Tax Liabilities
  e.
Deferred tax assets and liabilities
The Group offset certain deferred tax assets and deferred tax liabilities which met the offset criteria.
 
The movements of deferred tax assets and deferred tax liabilities were as follows:
For the year ended December 31, 2021
 
                                                                                          
    
Balance at

January 1
     
Recognized in

Profit or Loss
     
Recognized

in Other

Comprehensive

Income
     
Recognized

in Equity
     
Exchange

Differences
     
Disposal of

Subsidiaries
     
Balance at

December 31
  
    
NT$
     
NT$
     
NT$
     
NT$
     
NT$
     
NT$
     
NT$
  
Deferred tax assets
                     
Temporary differences
                     
Property, plant and equipment
   
$
629,702
 
   
$
(186,443
) 
   
$
— 
 
   
$
— 
 
   
$
(7,178
) 
   
$
(345,104
) 
   
$
90,977
 
Defined benefit obligation
   
 
1,370,455
 
   
 
(115,707
) 
   
 
(19,319
) 
   
 
— 
 
   
 
(47,276
) 
   
 
— 
 
   
 
1,188,153
 
FVTPL financial instruments
   
 
112,259
 
   
 
77,593
 
   
 
— 
 
   
 
— 
 
   
 
(502
) 
   
 
— 
 
   
 
189,350
 
Others
   
 
2,407,910
 
   
 
679,492
 
   
 
— 
 
   
 
(7
) 
   
 
52,399
 
   
 
(269,080
) 
   
 
2,870,714
 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
  
 
4,520,326
 
   
 
454,935
 
   
 
(19,319
) 
   
 
(7
) 
   
 
(2,557
) 
   
 
(614,184
) 
   
 
4,339,194
 
Loss carry-forward
   
 
527,666
 
   
 
187,981
 
   
 
— 
 
   
 
— 
 
   
 
(31,077
) 
   
 
(45,788
) 
   
 
638,782
 
Investment credits
   
 
429,381
 
   
 
(15,549
) 
   
 
— 
 
   
 
— 
 
   
 
(22,798
) 
   
 
— 
 
   
 
391,034
 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
  
$
5,477,373
 
   
$
627,367
 
   
$
(19,319
) 
   
$
(7
) 
   
$
(56,432
) 
   
$
(659,972
) 
   
$
5,369,010
 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Deferred tax liabilities
                     
Temporary differences
                     
Property, plant and equipment
   
$
5,980,387
 
   
$
165,628
 
   
$
— 
 
   
$
— 
 
   
$
(42,437
) 
   
$
(186,834
) 
   
$
5,916,744
 
FVTPL financial instruments
   
 
6,317
 
   
 
6,274
 
   
 
— 
 
   
 
— 
 
   
 
(11
) 
   
 
— 
 
   
 
12,580
 
Others
   
 
1,134,323
 
   
 
310,681
 
   
 
160,084
 
   
 
2
 
   
 
69,848
 
   
 
(14,065
) 
   
 
1,660,873
 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
  
$
7,121,027
 
   
$
482,583
 
   
$
160,084
 
   
$
2
 
   
$
27,400
 
   
$
(200,899
) 
   
$
7,590,197
 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
For the year ended December 31, 2022
 
                                                                                                                                           
    
Balance at

January 1
     
Recognized in

Profit or Loss
    
Recognized

in Other

Comprehensive

Income
    
Exchange

Differences
     
Balance at

December 31
  
    
NT$
     
NT$
    
NT$
    
NT$
     
NT$
  
Deferred tax assets
             
Temporary differences
             
Property, plant and equipment
   
$
90,977
 
   
$
40,498
 
  
$
— 
 
  
$
16,953
 
   
$
148,428
 
Defined benefit obligation
   
 
1,188,153
 
   
 
(123,878
) 
  
 
(208,482
) 
  
 
6,641
 
   
 
862,434
 
FVTPL financial instruments
   
 
189,350
 
   
 
18,192
 
  
 
— 
 
  
 
252
 
   
 
207,794
 
Others
   
 
2,870,714
 
   
 
718,909
 
  
 
— 
 
  
 
179,881
 
   
 
3,769,504
 
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
  
 
4,339,194
 
   
 
653,721
 
  
 
(208,482
) 
  
 
203,727
 
   
 
4,988,160
 
Loss carry-forward
   
 
638,782
 
   
 
(166,121
) 
  
 
— 
 
  
 
22,824
 
   
 
495,485
 
Investment credits
   
 
391,034
 
   
 
452,656
 
  
 
— 
 
  
 
14,437
 
   
 
858,127
 
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
  
$
5,369,010
 
   
$
940,256
 
  
$
(208,482
) 
  
$
240,988
 
   
$
6,341,772
 
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Deferred tax liabilities
             
Temporary differences
             
Property, plant and equipment
   
$
5,916,744
 
   
$
63,813
 
  
$
— 
 
  
$
57,701
 
   
$
6,038,258
 
FVTPL financial instruments
   
 
12,580
 
   
 
519,142
 
  
 
— 
 
  
 
89
 
   
 
531,811
 
Others
   
 
1,660,873
 
   
 
617,767
 
  
 
(370,091
) 
  
 
106,514
 
   
 
2,015,063
 
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
  
$
7,590,197
 
   
$
1,200,722
 
  
$
(370,091
) 
  
$
164,304
 
   
$
8,585,132
 
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
For the year ended December 31, 2023
 
                                                                                                                                                                       
    
Balance at
January 1
     
Acquisitions
through
Business
Combinations
     
Recognized
in Profit or
Loss
   
Recognized

in Other
Comprehensive
Income
   
Exchange
Differences
    
Balance at
December 31
  
    
NT$
     
NT$
     
NT$
    
NT$
    
NT$
    
NT$
  
Deferred tax assets
               
Temporary differences
               
Property, plant and equipment
   
$
148,428
 
   
$
— 
 
   
$
110,253
 
  
$
— 
 
  
$
7,483
 
  
$
266,164
 
Defined benefit obligation
   
 
862,434
 
   
 
— 
 
   
 
(68,968
) 
  
 
(4,844
) 
  
 
30,685
 
  
 
819,307
 
FVTPL financial instruments
   
 
207,794
 
   
 
— 
 
   
 
43,792
 
  
 
— 
 
  
 
304
 
  
 
251,890
 
Others
   
 
3,769,504
 
   
 
893
 
   
 
316,527
 
  
 
— 
 
  
 
95,392
 
  
 
4,182,316
 
  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
  
 
4,988,160
 
   
 
893
 
   
 
401,604
 
  
 
(4,844
) 
  
 
133,864
 
  
 
5,519,677
 
Loss carry-forward
   
 
495,485
 
   
 
— 
 
   
 
56,005
 
  
 
— 
 
  
 
3,807
 
  
 
555,297
 
Investment credits
   
 
858,127
 
   
 
— 
 
   
 
(522,852
) 
  
 
— 
 
  
 
(14,654
) 
  
 
320,621
 
  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
  
$
6,341,772
 
   
$
893
 
   
$
(65,243
) 
  
$
(4,844
) 
  
$
123,017
 
  
$
6,395,595
 
  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Deferred tax liabilities
               
Temporary differences
               
Property, plant and equipment
   
$
6,038,258
 
   
$
— 
 
   
$
(902,114
) 
  
$
— 
 
  
$
(11,093
) 
  
$
5,125,051
 
Defined benefit obligation
   
 
— 
 
   
 
— 
 
   
 
27,031
 
  
 
(2,630
) 
  
 
30,233
 
  
 
54,634
 
FVTPL financial instruments
   
 
531,811
 
   
 
— 
 
   
 
(487,098
) 
  
 
— 
 
  
 
368
 
  
 
45,081
 
Others
   
 
2,015,063
 
   
 
4,307
 
   
 
681
 
  
 
268,196
 
  
 
84,995
 
  
 
2,373,242
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
$
8,585,132
 
   
$
4,307
 
   
$
(1,361,500
) 
  
$
265,566
 
  
$
104,503
 
  
$
7,598,008
 
  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
 
                                                                                                                                                                       
    
Balance at
January 1
    
Acquisitions
through
Business
Combinations
     
Recognized
in Profit or
Loss
    
Recognized

in Other
Comprehensive
Income
    
Exchange
Differences
   
Balance at
December 31
  
    
US$ (Note 4)
     
US$ (Note 4)
     
US$ (Note 4)
    
US$ (Note 4)
    
US$ (Note 4)
    
US$ (Note 4)
  
Deferred tax assets
               
Temporary differences
               
Property, plant and equipment
   
$
4,847
 
   
$
— 
 
   
$
3,601
 
  
$
— 
 
  
$
245
 
  
$
8,693
 
Defined benefit obligation
   
 
28,166
 
   
 
— 
 
   
 
(2,252
) 
  
 
(158
) 
  
 
1,002
 
  
 
26,758
 
FVTPL financial instruments
   
 
6,786
 
   
 
— 
 
   
 
1,430
 
  
 
— 
 
  
 
10
 
  
 
8,226
 
Others
   
 
123,106
 
   
 
29
 
   
 
10,337
 
  
 
— 
 
  
 
3,115
 
  
 
136,587
 
  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
  
 
162,905
 
   
 
29
 
   
 
13,116
 
  
 
(158
) 
  
 
4,372
 
  
 
180,264
 
Loss carry-forward
   
 
16,182
 
   
 
— 
 
   
 
1,829
 
  
 
— 
 
  
 
124
 
  
 
18,135
 
Investment credits
   
 
28,025
 
   
 
— 
 
   
 
(17,075
) 
  
 
— 
 
  
 
(479
) 
  
 
10,471
 
  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
  
$
207,112
 
   
$
29
 
   
$
(2,130
) 
  
$
(158
) 
  
$
4,017
 
  
$
208,870
 
  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Deferred tax liabilities
               
Temporary differences
               
Property, plant and equipment
   
$
197,200
 
   
$
— 
 
   
$
(29,461
)
  
$
— 
 
  
$
(362
) 
  
$
167,377
 
Defined benefit obligation
   
 
— 
 
   
 
— 
 
   
 
883
 
  
 
(86
)
  
 
987
 
  
 
1,784
 
FVTPL financial instruments
   
 
17,368
 
   
 
— 
 
   
 
(15,908
) 
  
 
— 
 
  
 
12
 
  
 
1,472
 
Others
   
 
65,808
 
   
 
141
 
   
 
22
 
  
 
8,759
 
  
 
2,776
 
  
 
77,506
 
  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
  
$
280,376
 
   
$
141
 
   
$
(44,464
)
  
$
8,673
 
  
$
3,413
 
  
$
248,139
 
  
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Summary of Unrecognized Deferred Tax Assets Related to Loss Carry-forward, Investment Credits and Deductible Temporary Differences
  f.
Deductible temporary differences, unused loss carryforwards and unused investment credits for which no deferred tax assets have been recognized in the consolidated balance sheets
 
                                                              
   
December 31
  
   
2022
    
2023
  
   
NT$
    
NT$
    
US$ (Note 4)
  
Loss carry-forward
  
$
1,549,286
 
  
$
1,759,044
 
  
$
57,447
 
Investment credits
  
 
94,932
 
  
 
77,436
 
  
 
2,529
 
Deductible temporary differences
  
 
273,290
 
  
 
210,897
 
  
 
6,888
 
 
 
 
    
 
 
    
 
 
  
 
$
  1,917,508
 
  
$
  2,047,377
 
  
$
    66,864
 
 
 
 
    
 
 
    
 
 
  
Summary of Unused Loss Carry-forward
  g.
Information about unused loss carry-forward, investment credits,
tax-exemption
and other tax relief
As of December 31, 2023, the unused loss carry-forward comprised:
 
                                         
Expiry Year
   
NT$
     
US$
  
           
(Note 4)
  
2024
   
$
206,247
 
   
$
6,736
 
2025
   
 
175,863
 
   
 
5,743
 
2026
   
 
292,946
 
   
 
9,567
 
2027
   
 
329,623
 
   
 
10,765
 
2028 and thereafter
   
 
1,309,662
 
   
 
42,772
 
  
 
 
     
 
 
  
  
$
2,314,341
 
   
$
75,583
 
  
 
 
     
 
 
  
Summary of Unused Investment Credits
As of December 31, 2023, unused investment credits comprised:
 
Tax Credit Source
   
Remaining Creditable Amount
     
Expiry Year
    
NT$
     
US$
       
           
(Note 4)
       
Purchase of machinery and equipment
    $ 306,005      $ 9,994      2028 and thereafter
Others
      92,052        3,006      2026 and thereafter
  
 
 
     
 
 
     
   $ 398,057      $ 13,000