Taiwan: Ministry of Finance introduces electronic filing for non-resident taxpayers
The Ministry of Finance (Gao Xiong Tax Bureau) has announced on its website that non-resident taxpayers may file tax returns online in the same way as resident taxpayers from 1 January 2017. Additionally, withholding agents of non-resident taxpayers
See MorePoland-Taiwan: Polish Senate approves tax agreement between Poland and Taiwan
The higher chamber of the Polish parliament accepted the draft law ratifying the Poland - Taiwan Income Tax Agreement of 2016 on 15 December 2016. Further details will be reported
See MoreTaiwan: Ministry of Finance amends withholding tax on income of non-resident workers
The Tax Bureau of the Ministry of Finance has announced that withholding tax on income derived from a non-resident worker will be adjusted in 2017. Accordingly, if monthly income is less than TWD 31,513 this will be subject to withholding tax at a
See MoreTaiwan: Finance Minister publishes draft rules on CFC and PEM
Finance Minister issued draft regulations on a controlled foreign company (CFC) and place of effective management commenced in July 2016 on 9 November 2016. The draft regulations intend to explain CFC income’s timing and amount addition CFC
See MoreTaiwan: Finance minister announces pension income
The Ministry of Finance declared modification to the amounts of exempt pension income in 2017 on 12 December 2016. The taxable pension income is considered as follows: Pension income up to TWD 180,000 multiplied by the number of years of service is
See MoreTaiwan: Proposes revisions to the VAT
Ministry of Finance proposed revisions to the value added tax (VAT) provisions and to make foreign e-commerce enterprises outside Taiwan but selling e-commerce services to individuals in Taiwan subject to VAT on 9 December 2016. If the procedures
See MoreTaiwan: Individual income tax rates for 2017
The Ministry of Finance declared the allowances, normal inferences, the particular deduction for salary and wages, as well as the individual income tax rates for 2017, on 12 December 2016. Personal exemption will amount to TWD 88,000 for an
See MoreTaiwan: Debentures and corporate bonds exemption extends
The Legislative permitted the modification of securities transaction taxation, extending the exemption for further 10 years, which means that the securities transaction tax on bank debentures and corporate bonds will be suspended until 31 December
See MoreGuidance from Japan’s tax agency relating to tax agreement with Taiwan
Japan’s national tax agency on 30 November 2016 released guidance with respect to withholding taxes and forms for application of the mutual exemption provisions for income of foreign residents. The Guidance on an amendment to withholding taxes
See MoreTaiwan : Implements CFC, place of effective management concepts
Taiwan’s Legislative Yuan amended the Income Tax Act (ITA) on 12 July 2016, and introduced the controlled foreign company (CFC) rules, incorporating some of the recommendations provided in the Organization for Economic Co-operation and
See MoreTaiwan: Simplifies the conditions for the application of advance pricing agreement
The Ministry of Finance has simplified the conditions for the application of an advance pricing agreement (APA) and other procedural rules based on the amendments enacted on 6 March 2015. Accordingly, a taxpayer may apply for an APA if the total
See MoreCanada and Taiwan: DTA signed
A Tax Agreement between Canada and Taiwan has been signed on January 13, 2016 in Taipei and on January 15, 2016 in Ottawa. It was initialed on May 1,
See MoreDTA between Japan and Taiwan signed
Japan and Taiwan signed a double taxation agreement (DTA) in Tokyo on 26 November 2015. This DTA is the first agreement regarding taxes between Japan and Taiwan. The agreement provides for a withholding tax rate of 10% on payments of dividends,
See MoreTax agreement between Canada and Taiwan initialed
The Tax Agreement between Canada and Taiwan has been initialed on 1st May
See MoreTaiwan: Amendments to Transfer Pricing Rules
The Ministry of Finance announced on 6 March 2015 amendments to the transfer pricing rules governing non-arm’s length transactions of profit-seeking enterprises. This amendment coming 10 years after the promulgation of the transfer pricing
See MoreTaiwan: Non-Residents Notified On Tax Compliance
The National Taxation Bureau of Taipei has announced that it is currently assessing a total of 3,253 foreign taxpayers from countries such as the United States, Japan, Hong Kong, Malaysia, and Singapore to ensure their compliance with relevant
See MoreTaiwan – Separate analysis for certain controlled transactions
Taiwan’s Ministry of Finance issued guidance that relaxes the rules requiring a separate analysis for controlled transactions. Under the transfer pricing safe harbor rules (from 2008), a profit-seeking enterprise is required to prepare a transfer
See MoreTaiwan: Proposed Amendments to Transfer Pricing Rules
The Ministry of Finance of Taiwan has proposed changes to the transfer pricing rules (Tai Cai Shui No. 10304651710). The draft of amendments was released on 7 January 2015 for public comment. The modifications, which concern one new provision and
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