Taiwan is scheduling to modify its tax collection law to accommodate the exchange of tax information with other countries or jurisdictions (i.e. United States and China (People’s Rep.). Accordance with a spokesman of the Ministry of Finance (MoF), a proposal to revise the act will be presented by the MoF to the Cabinet for review in 2 weeks. Taiwan has signed 32 tax agreements with other countries and jurisdictions that include a provision on exchange of information but still does not have an applicable tax agreement with China (People’s Rep.) and the United States.
Related Posts
Taiwan: MOF extends business tax payment deadline
January 16, 2025
Taiwan's Ministry of Finance (MOF) has announced an extension for the business tax payment deadline to 24 February 2025. The extension applies to both the quarterly period ending 31 December 2024 and the monthly period for January 2025. This
Read More
Taiwan consults increasing VAT registration threshold for non-resident digital service providers
January 14, 2025
The Taiwanese Ministry of Finance announced on 24 December 2024 that it is seeking public feedback on proposed amendments to VAT rules for non-resident entities offering digital services. The changes aim to raise the annual sales threshold for VAT
Read More Taiwan raises business tax thresholds for small enterprises
January 07, 2025
Taiwan's Ministry of Finance announced a revision to the Business Tax Thresholds for Small-Scale Enterprises, effective from 1 January 2025. Small businesses that remain below these thresholds are exempt from tax. The monthly limit for goods has
Read More Taiwan extends reduced day trading tax rate until 2027
January 03, 2025
Taiwan's Ministry of Finance announced the implementation of amendments to extend the reduced Securities Transaction Tax for day trading (from 0.3% to 0.15%) on the Taiwan securities market, following approval by the Legislative Yuan on 31 December
Read More Taiwan publishes guidance on tax withholding, calculation for foreign enterprises
December 24, 2024
Taiwan’s Ministry of Finance has issued guidance on income tax withholding, non-withholding tax statements, and calculating corporate taxes for foreign companies. Optimised income tax withholding system According to an announcement by
Read More
Lithuania: Government approves ratification of tax treaty with Taiwan
December 19, 2024
The Government approved the draft Law for ratification of the tax treaty with Taiwan. The announcement was made by the Lithuanian Ministry of Finance on 11 December 2024. The agreement seeks to eliminate double taxation and to prevent tax evasion
Read More