Taiwan’s Government has increased business tax for banking and insurance industries from 2% to 5%, which will be effective on 1 July 2014.
Nevertheless, a 2% rate may remain to apply for banks and insurance companies that involve in the essential business of other financial sectors.The Ministry of Finance has introduced the new changes to clarify the rules for application of appropriate tax rates, and revised the format of the business tax return forms and payment slips.
Related Posts
Taiwan's Ministry of Finance has released a notice outlining the requirements for businesses transitioning from a calendar year to a special fiscal year, including stipulations for tax returns and retained earnings on 12 November 2024. The
Read More Taiwan Representative to the United Kingdom Amb. Kelly Wu-chiao Hsieh and Representative of the British Office in Taipei John Dennis, representing the Executive Yuan’s Office of Trade Negotiations and the UK Department of Business and Trade signed
Read More Taiwan's Ministry of Finance has issued a notice mandating the submission of Non-Withholding Tax Statements for payments that are exempt from withholding on 4 November 2024. The tax withholding system aims to supervise and urge tax withholders to
Read More Taiwan's Ministry of Finance has released a notice outlining the general conditions for declaring expenses, losses, and business-related expenses or losses on 4 November 2024. The expenses or losses filed by profit-seeking enterprises should be
Read More Taiwan's Ministry of Finance has released notice for foreign companies on applying the net profit ratio and domestic profit contribution ratio to calculate taxable income and withholding tax before receiving payments for services or business profits
Read More
The US Department of the Treasury announced on 29 October 2024 that the US and Taiwan, under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO), will begin
Read More
