Taiwan: 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
See MoreTaiwan: NTBND Publishes a clarification on carry forward of losses for exemption from investment income
On 4 March 2019, the National Tax Bureau of the Northern District (NTBND) of the Ministry of Finance of Taiwan issued a clarification on carry-forward of losses for exemption from investment income. Under the clarification following changes
See MoreTaiwan: MoF issues notice containing a list of jurisdictions regarding CbC reports
Taiwan's Ministry of Finance has (MoF) published a Notice , dated 27 April 2018, containing a list of countries or regions with which Taiwan has an agreement for the exchange of information, but not for the effectively exchange information on
See MoreTaiwan releases tax ruling regarding calculating Taiwan-sourced income of foreign entities
The Ministry of Finance released a tax ruling regarding the new method of calculating income source from Taiwan originating from foreign companies that import, store, manufacture and deliver goods to domestic and foreign customers. According to the
See MoreTaiwan: Government clarifies transfer pricing documentation thresholds
On 1st April 2018, the Taiwanese government defined how companies should calculate transfer pricing disclosure and documentation thresholds when they operate less than a full year due to fiscal year change, merger, or acquisition. According to the
See MoreTaiwan: Parliament enacts tax reform bill
The Legislative Yuan has approved amendment to the tax reform bill that were announced on 1st September 2017. The measures applies retroactively for taxable years beginning as from 1 January 2018. Key features of the tax reform include: •
See MoreTaiwan: MoF announces Safe harbor exemption
Taiwan's Ministry of Finance (MoF) announced a “safe harbor” exemption with respect to Master file and country-by-country (CbC) reporting On 11th December 2017. Transfer pricing guidance issued in November 2017 (and known in English as
See MoreTaiwan approves the third income tax optimization plan for 2018
Taiwan's legislative Yuan approved the third income tax optimization plan regarding changes for both corporate and individual taxpayers on 18 January 2018. Corporate taxation: The corporate tax rate is raised from 17% to 20% in 2018; Where a
See MoreTaiwan: MoF increases dividends withholding tax rate
Taiwan's Ministry of Finance (MoF) has stated that, the withholding tax rate on dividends paid to nonresidents is increased from 20% to 21%. The withholding tax rate effects from 1st January 2018. Ministry of Finance further said that this standard
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