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v3.23.1

Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2022
Text Block [Abstract] |
Summary of Income Tax Expense | Income tax expense consisted of the following:
|  | Years Ended December 31 |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | NT$ |  |  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |
Current income tax expense |  |  |  |  |  |  |  |  |  |  |  |
Current tax expense recognized in the current year |  | $ | 87,452.7 |  |  | $ | 107,694.4 |  |  | $ | 190,022.2 |
Income tax adjustments on prior years |  |  | (7,589.4 | ) |  |  | (14,539.5 | ) |  |  | (19,413.0 | )
Other income tax adjustments |  |  | 150.2 |  |  |  | 152.2 |  |  |  | 206.1 |
|  |  | 80,013.5 |  |  |  | 93,307.1 |  |  |  | 170,815.3 |
Deferred income tax benefit |  |  |  |  |  |  |  |  |  |  |  |
The origination and reversal of temporary differences |  |  | (6,275.2 | ) |  |  | (17,530.0 | ) |  |  | (24,714.5 | )
Investment tax credits |  |  | — |  |  |  | (5,621.7 | ) |  |  | 4,676.7 |
|  |  | (6,275.2 | ) |  |  | (23,151.7 | ) |  |  | (20,037.8 | )
Income tax expense recognized in profit or loss |  | $ | 73,738.3 |  |  | $ | 70,155.4 |  |  | $ | 150,777.5 |
Reconciliation of Income before Income Tax and Income Tax Expense Recognized in Profit or Loss | A reconciliation of income before income tax and income tax expense recognized in profit or loss was as follows:
|  | Years Ended December 31 |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | NT$ |  |  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |
Income before tax |  | $ | 584,746.3 |  |  | $ | 663,036.0 |  |  | $ | 1,144,072.2 |
Income tax expense at the statutory rate |  | $ | 118,831.3 |  |  | $ | 134,595.2 |  |  | $ | 231,776.1 |
Tax effect of adjusting items: |  |  |  |  |  |  |  |  |  |  |  |
Nondeductible items in determining taxable income |  |  | 1,015.9 |  |  |  | 11,279.5 |  |  |  | 12,309.8 |
Tax-exempt income |  |  | (65,988.1 | ) |  |  | (89,852.9 | ) |  |  | (157,955.9 | )
Additional income tax under the Alternative Minimum Tax Act |  |  | 18,872.8 |  |  |  | 32,852.7 |  |  |  | 61,578.0 |
Additional income tax on unappropriated earnings |  |  | 14,747.3 |  |  |  | 18,849.5 |  |  |  | 42,336.8 |
The origination and reversal of temporary differences |  |  | (6,275.2 | ) |  |  | (17,530.0 | ) |  |  | (24,714.5 | )
Income tax credits |  |  | (26.5 | ) |  |  | (5,651.3 | ) |  |  | 4,654.1 |
|  |  | 81,177.5 |  |  |  | 84,542.7 |  |  |  | 169,984.4 |
Income tax adjustments on prior years |  |  | (7,589.4 | ) |  |  | (14,539.5 | ) |  |  | (19,413.0 | )
Other income tax adjustments |  |  | 150.2 |  |  |  | 152.2 |  |  |  | 206.1 |
Income tax expense recognized in profit or loss |  | $ | 73,738.3 |  |  | $ | 70,155.4 |  |  | $ | 150,777.5 |
The income tax adjustments on prior years were primarily due to the difference between the actual and estimated income tax on unappropriated earnings.
Analysis of Deferred Income Tax Assets and Liabilities in Consolidated Statements of Financial Position | The analysis of deferred income tax assets and liabilities was as follows:
|  | December 31, 2021 |  |  | December 31, 2022 |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |
Deferred income tax assets |  |  |  |  |  |  |  |
Temporary differences |  |  |  |  |  |  |  |
Depreciation |  | $ | 34,720.7 |  |  | $ | 45,299.3 |
Refund liability |  |  | 5,986.2 |  |  |  | 12,089.5 |
Unrealized exchange losses |  |  | — |  |  |  | 5,782.4 |
Unrealized loss on inventories |  |  | 899.0 |  |  |  | 2,305.3 |
Net defined benefit liability |  |  | 1,237.1 |  |  |  | 1,722.0 |
Investment tax credits |  |  | 5,621.7 |  |  |  | 945.0 |
Deferred compensation cost |  |  | 374.0 |  |  |  | 361.2 |
Others |  |  | 315.2 |  |  |  | 681.2 |
|  | $ | 49,153.9 |  |  | $ | 69,185.9 |
Deferred income tax liabilities |  |  |  |  |  |  |  |
Temporary differences |  |  |  |  |  |  |  |
Unrealized exchange gains |  | $ | (706.3 | ) |  | $ | — |
Others |  |  | (1,167.6 | ) |  |  | (1,031.4 | )
|  | $ | (1,873.9 | ) |  | $ | (1,031.4 | )
|  | Year Ended December 31, 2020 |
|  |  |  |  | Recognized in |  |  |  |  |  |  |
|  | Balance, Beginning of Year |  |  | Profit or Loss |  |  | Other Comprehensive Income |  |  | Effect of Exchange Rate Changes |  |  | Balance, End of Year |
|  | NT$ |  |  | NT$ |  |  | NT$ |  |  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |
Deferred income tax assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary differences |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  | $ | 13,547.2 |  |  | $ | 5,824.0 |  |  | $ | — |  |  | $ | (16.8 | ) |  | $ | 19,354.4 |
Refund liability |  |  | 2,150.4 |  |  |  | 1,606.1 |  |  |  | — |  |  |  | (1.4 | ) |  |  | 3,755.1 |
Net defined benefit liability |  |  | 1,016.3 |  |  |  | (96.3 | ) |  |  | 422.1 |  |  |  | — |  |  |  | 1,342.1 |
Unrealized loss on inventories |  |  | 469.4 |  |  |  | 391.1 |  |  |  | — |  |  |  | (2.0 | ) |  |  | 858.5 |
Deferred compensation cost |  |  | 323.1 |  |  |  | 27.4 |  |  |  | — |  |  |  | (20.2 | ) |  |  | 330.3 |
Others |  |  | 422.0 |  |  |  | (91.6 | ) |  |  | 0.6 |  |  |  | (13.2 | ) |  |  | 317.8 |
|  | $ | 17,928.4 |  |  | $ | 7,660.7 |  |  | $ | 422.7 |  |  | $ | (53.6 | ) |  | $ | 25,958.2 |
Deferred income tax liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary differences |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized exchange gains |  | $ | (333.6 | ) |  | $ | (532.9 | ) |  | $ | — |  |  | $ | — |  |  | $ | (866.5 | )
Others |  |  | (10.8 | ) |  |  | (852.6 | ) |  |  | — |  |  |  | — |  |  |  | (863.4 | )
|  | $ | (344.4 | ) |  | $ | (1,385.5 | ) |  | $ | — |  |  | $ | — |  |  | $ | (1,729.9 | )
|  | Year Ended December 31, 2021 |
|  |  |  |  | Recognized in |  |  |  |  |  |  |
|  | Balance, Beginning of Year |  |  | Profit or Loss |  |  | Other Comprehensive Income |  |  | Effect of Exchange Rate Changes |  |  | Balance, End of Year |
|  | NT$ |  |  | NT$ |  |  | NT$ |  |  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |
Deferred income tax assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary differences |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  | $ | 19,354.4 |  |  | $ | 15,365.7 |  |  | $ | — |  |  | $ | 0.6 |  |  | $ | 34,720.7 |
Refund liability |  |  | 3,755.1 |  |  |  | 2,231.5 |  |  |  | — |  |  |  | (0.4 | ) |  |  | 5,986.2 |
Investment tax credits |  |  | — |  |  |  | 5,621.7 |  |  |  | — |  |  |  | — |  |  |  | 5,621.7 |
Net defined benefit liability |  |  | 1,342.1 |  |  |  | (75.9 | ) |  |  | (29.1 | ) |  |  | — |  |  |  | 1,237.1 |
Unrealized loss on inventories |  |  | 858.5 |  |  |  | 41.0 |  |  |  | — |  |  |  | (0.5 | ) |  |  | 899.0 |
Deferred compensation cost |  |  | 330.3 |  |  |  | 49.2 |  |  |  | — |  |  |  | (5.5 | ) |  |  | 374.0 |
Others |  |  | 317.8 |  |  |  | 59.1 |  |  |  | (56.2 | ) |  |  | (5.5 | ) |  |  | 315.2 |
|  | $ | 25,958.2 |  |  | $ | 23,292.3 |  |  | $ | (85.3 | ) |  | $ | (11.3 | ) |  | $ | 49,153.9 |
Deferred income tax liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary differences |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized exchange gains |  | $ | (866.5 | ) |  | $ | 160.2 |  |  | $ | — |  |  | $ | — |  |  | $ | (706.3 | )
Others |  |  | (863.4 | ) |  |  | (300.8 | ) |  |  | (3.4 | ) |  |  | — |  |  |  | (1,167.6 | )
|  | $ | (1,729.9 | ) |  | $ | (140.6 | ) |  | $ | (3.4 | ) |  | $ | — |  |  | $ | (1,873.9 | )
|  | Year Ended December 31, 2022 |
|  |  |  |  | Recognized in |  |  |  |  |  |  |
|  | Balance, Beginning of Year |  |  | Profit or Loss |  |  | Other Comprehensive Income |  |  | Effect of Exchange Rate Changes |  |  | Balance, End of Year |
|  | NT$ |  |  | NT$ |  |  | NT$ |  |  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |  |  | (In Millions) |
Deferred income tax assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary differences |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  | $ | 34,720.7 |  |  | $ | 10,552.2 |  |  | $ | — |  |  | $ | 26.4 |  |  | $ | 45,299.3 |
Refund liability |  |  | 5,986.2 |  |  |  | 6,100.8 |  |  |  | — |  |  |  | 2.5 |  |  |  | 12,089.5 |
Unrealized exchange losses |  |  | — |  |  |  | 5,782.4 |  |  |  | — |  |  |  | — |  |  |  | 5,782.4 |
Unrealized loss on inventories |  |  | 899.0 |  |  |  | 1,402.2 |  |  |  | — |  |  |  | 4.1 |  |  |  | 2,305.3 |
Net defined benefit liability |  |  | 1,237.1 |  |  |  | (249.1 | ) |  |  | 734.0 |  |  |  | — |  |  |  | 1,722.0 |
Investment tax credits |  |  | 5,621.7 |  |  |  | (4,676.7 | ) |  |  | — |  |  |  | — |  |  |  | 945.0 |
Deferred compensation cost |  |  | 374.0 |  |  |  | (48.2 | ) |  |  | — |  |  |  | 35.4 |  |  |  | 361.2 |
Others |  |  | 315.2 |  |  |  | 334.9 |  |  |  | — |  |  |  | 31.1 |  |  |  | 681.2 |
|  | $ | 49,153.9 |  |  | $ | 19,198.5 |  |  | $ | 734.0 |  |  | $ | 99.5 |  |  | $ | 69,185.9 |
Deferred income tax liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporary differences |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized exchange gains |  | $ | (706.3 | ) |  | $ | 706.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Others |  |  | (1,167.6 | ) |  |  | 133.0 |  |  |  | 6.0 |  |  |  | (2.8 | ) |  |  | (1,031.4 | )
|  | $ | (1,873.9 | ) |  | $ | 839.3 |  |  | $ | 6.0 |  |  | $ | (2.8 | ) |  | $ | (1,031.4 | )
Tax-exemption Information Related to Profits Generated from Certain Projects |
|  | Tax-exemption Period
Construction and expansion of 2009 by TSMC |  | 2018 to 2022

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