Taiwan: Committee approves Luxury Tax on residential properties
The Finance Committee of Taiwan’s legislature has given its approval to amendments of the luxury tax imposed on residential property. The luxury tax imposes a 15 percent tax on the sale price of property sold less than one year after it was
See MoreTaiwan- Proposal to increase business tax rates
Taiwan’s Ministry of Finance (“MOF") has recently spoken about efforts to improve Taiwan’s financial prospects. The proposals include plans to raise business tax rates on the banking and insurance industries, reduce the imputation credit ratio
See MoreDTA between Austria and Taiwan
On February 20, 2014, Austria and Taiwan initialed a double taxation agreement (DTA) following three days of negotiations. No further details are currently
See MoreTaiwan – Income tax exemption for royalties and technical service fees
Taiwan has introduced an amendment concerning the rules governing taxpayers (including foreign for-profit entities) that apply for an exemption from income tax on royalties and technical service fees related to the manufacturing, technical service,
See MoreCanada and Taiwan: DTA negotiations
Canada and Taiwan have confirmed that they are in negotiations towards a double taxation agreement (DTA), which could be signed during
See MoreTaiwan: Worried At Non-Declaration of Property Income
Recently, Taiwan’s National Taxation Bureau (NTBT) published that the requirement to announce, on an income tax return, profits for an off-plan property transaction cannot be escaped non-residents is involved. They also specified that, even any
See MoreAgreement to avoid double taxation between China and Taiwan is under process
China and Taiwan expect to sign shortly the draft of an agreement to avoid double taxation. This follows a previous attempt at negotiating a double taxation agreement in 2009, based generally on the OECD Model. On that occasion the conclusion of a
See MoreHalf-Year Tax Revenues Fall in Taiwan
Taiwan's Ministry of Finance has announced a 5.2 percent fall in revenue in June 2013 due to a fall in receipts from corporate taxes. There has been a decrease in total tax collections in the first half of this year which includes falls in
See MoreTaiwan: Change to tax on gains from share transfer
Taiwan government passed the amendment to the Income Tax Act on 25 July 2013 about the taxation of gains arising from share transfers by individuals. Under this modification, no income tax will be obligatory on gains from share transfers even if the
See MoreTaiwan: Parliament Passes Revised Capital Gains Tax on Stocks
The Government amendment to the Income Tax Act on 26 June 2013, which would drop the plan for an 8,500-point TAIEX threshold that automatically triggers the capital gains tax for individual investors, a move expected to boost the stock market. Under
See MoreTaiwan: Pilot free trade zones to be established
Taiwan has revealed that pilot free trade zones are to be established to liberalize the island’s economy and upgrade the industrial structure. The Council for Economic Planning and Development (CEPD) aims to attract high value-added industries
See MoreDTA between Taiwan – Germany Enters Into Force
The double taxation agreement (DTA) between Taiwan and Germany entered into force on November 7, 2012. The treaty will be applicable from January 1, 2013. This agreement covers the avoidance of double taxation of dividends and capital
See MoreIncome Tax Treaty between Thailand and Taiwan
Thailand and Taiwan signed an agreement on the avoidance of double taxation and the prevention of fiscal evasion on 3 December 2012. An agreement was originally signed by the two countries on 9 July 1999, but the government of Thailand failed to
See MoreTaiwan Announces Income Tax Cuts
It has been published on 28 November 2012 that the Ministry of Finance has announced that, because of the inflation linkage within Taiwan's tax code, individual income tax thresholds and brackets will be increased automatically next year. As
See MoreDTA between Taiwan and Germany has entered into force
The Taiwanese Ministry of Foreign Affairs confirmed on November 20, 2012, that the double taxation agreement (DTA) between Taiwan and Germany has entered into force following the conclusion of both nations' domestic ratification procedures on
See MoreDTA between Taiwan and Germany Signd
Taiwan’s Ministry of Foreign Affairs announced on 3 January 2012 that Taiwan and Germany have signed a bilateral double taxation agreement (DTA). The DTA, which is subject to ratification procedures in both countries before it enters into force,
See MoreDTA with Taiwan has been recognized by Switzerland
Switzerland’s Federal Council has recently recognized the double taxation agreement (DTA) of October 8, 2007 with Chinese Taipei (Taiwan). The federal act on the recognition of private agreements for the avoidance of double taxation of June 17,
See MoreTaiwan: Income Tax Exemption on Royalties
The income tax exemption for royalties paid to foreign enterprises will be limited to the extent of their domestic use as per declaration of the Taiwan’s National Tax Administration (NTA). The NTA confirmed that the domestic companies that, when
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