TAIPEI (Taiwan News) — Taiwan's Ministry of Finance will issue a record NT$58.5 billion (US$2 billion) in income tax refunds on July 31.

The ministry said in a press release that 3.62 million taxpayers are set to receive their first-round payments. Tax filing for last year closed on June 30, with refunds to be issued in three rounds: July 31, October 31, and January 20, 2026, per CNA.

This year’s refunds are expected to total NT$70.7 billion across 3.8 million cases, up NT$11.7 billion from last year due to tax bracket adjustments and higher exemption and deduction thresholds.

Sung Hsiu-ling (宋秀玲), director-general of the MOF’s Taxation Administration, explained that taxpayers who filed online or submitted early will be included in the first round, despite an extended filing season.

Refunds will be deposited into designated bank accounts. Those who requested vouchers will receive them by mail and must redeem them at a financial institution by Sept. 30.

Sung warned the public to watch for scams, noting that tax offices never call to notify of refunds or request account details. A toll-free hotline (0800-000321) is available for inquiries.