The National Tax Office of the Central Region issued an announcement on 7 February 2017 regarding withholding tax on interest from short-term commercial papers. According to the announcement, a 10% withholding tax is applies on the gross amount paid on interest to a non-resident enterprise with a permanent place of business in Taiwan. The same rate is applies to the interest payment to a legal entity or an organization of mainland China with a fixed place of business or representative in Taiwan.