Taiwan: MOF announces draft amendments to transfer pricing guidelines
On 18 August 2020, Taiwan’s Ministry of Finance (MOF) has announced draft amendments to certain transfer pricing provisions based on chapter 6 of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The
See MoreTaiwan: MOF exempts from provisional income tax payment
On 31 July 2020, Taiwan’s Ministry of Finance (MOF) has issued a ruling prescribing that certain profit-seeking enterprises may apply for the exemption from their provisional income tax payment during the period from 15 January 2020 until 30 June
See MoreTaiwan: NTBSA calls for annual tax return for business suspended in tax year 2019
On 19 June 2020, National Taxation Bureau of the Southern Area (NTBSA), Ministry of Finance of Taiwan has stated that profit-seeking enterprises which suspended business in the taxable year 2019 should file its annual income tax return to the tax
See MoreTaiwan: NTBNA clarifies about various tax acts and penalties income tax returns
On 15 June 2020, the National Taxation Bureau of Northern Area (NTBNA), Ministry of Finance of Taiwan has issued a press release that clarifies about various tax acts and penalties as provided in various regulations shall not be allowed to be
See MoreTaiwan: MOF extends tax return deadline due to COVID-19
On 13 April 2020, Taiwan’s Ministry of Finance (MOF) has extended tax filing and payment deadlines for corporate income tax and individual income tax amid COVID-19 pandemic. The main measures are as following: Corporate income tax original due
See MoreTaiwan: Tax measures due to COVID-19 pandemic
On 25 February 2020, Taiwan’s Ministry of Finance (MOF) has issued several tax measures due to the outbreak of COVID-19. The main measures include the following: Taxpayers who are affected by a COVID-19 and are unable to pay their tax
See MoreCzech Republic: Senate approves DTA with Taiwan
On 30 January 2020, the Senate of the Czech Republic approved the Double Taxation Agreement (DTA) with
See MoreTaiwan issues final regulations on tax incentive for substantive investments
On 8 January 2020, Taiwan Ministry of Finance issues the final ‘Regulations on Deduction of Undistributed Earnings and Application for Tax Refund for Substantive Investment Made by a Profit-seeking Enterprise or a Limited Partnership’. The
See MoreTaiwan: MOF announces safe harbor rules for CbC report
On 10 December 2019, the Ministry of Finance (MOF) issued tax ruling no. 10804651540 providing exemption from CbC reporting for Taiwan entities under a MNE Group headquartered outside Taiwan. The safe harbor exemption guidance was issued in late
See MoreTaiwan: MOF clarifies the procedures for one-time transfer pricing adjustments
On 15 November 2019, the Ministry of Finance issued a ruling no.10804629000 providing the guidance when multinational enterprises (MNEs) make a one-time transfer pricing adjustment to achieve an arm’s length result. For making one-time
See MoreTaiwan: MOF issues tax ruling on Taiwan-sourced income of foreign entities
On 26 September 2019, Taiwan’s Ministry of Finance (MOF) released a tax ruling regarding the new method of calculating income source from Taiwan originating from foreign entities amending article 15-1 in accordance with Article 8 of the Income
See MoreTaiwan: MOF approves regulation on repatriation of offshore funds
On 15 August 2019, Taiwan's Ministry of Finance (MOF) has approved regulations on repatriation, use and taxation of offshore installations in order to guide China's personal and for profit business funds to return to Taiwan to invest in physical
See MoreTaiwan: NTBNA issues notice on business tax on e-services purchase
On 26 August 2019, Taiwan's National Taxation Bureau of the Northern Area (NTBNA) has issued a notice for domestic entities to pay business tax on e-services purchased from foreign providers. The notice clarifies about domestic business entity that
See MoreTaiwan: NTBCA issues notice on withholding tax for profit-seeking enterprises
On 9 August 2019, Taiwan's National Taxation Bureau of the Central Area (NTBCA) has issued a notice clarifying that profit-seeking enterprises should file withholding tax during prescribed period. The authority indicates that profit-seeking
See MoreTaiwan issues a notice on businesses optimized tax regulations
On 15 May 2019, The National Taxation Bureau of the Northern Area (NTBNA) of Taiwan published a notice upon businesses of optimized tax regulations in order to simplify the tax system and comply with international trends (the Income Tax Act was
See MoreTaiwan: Cabinet passes a draft bill on encouraging repatriation of offshore funds
On 11 April 2019, the Cabinet of Taiwan approved a draft bill regarding the repatriation, use and taxation of offshore installations. The bill now goes to the legislature for review and debate. The draft bill clarifies that repatriated assets
See MoreTaiwan publishes a notice upon income tax filing return for 2019
On 29 March 2019, the National Taxation Bureau of the Southern Area (NTBSA) of Taiwan published a notice upon important information about the new profit-seeking enterprise income tax reform when filing in 2019. According to the newly amended
See MoreTaiwan: NTBNA publishes Guidance on Submission of TP documentation
On 26 February 2019, National Taxation Bureau of the Northern Area (NTBNA), Ministry of Finance of Taiwan has published guidance on the submission of the Master file and Country-by-Country report by MNEs. Here are the key points as follows: The
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