Recently, Taiwan and China have agreed to continue discussions on goods tariff reductions within their economic cooperation framework agreement (ECFA), despite the long-running dispute over the cross-strait agreement for trade in services that was signed in June last year. The ECFA will effect at the beginning of 2011, and implemented a three-year program of import duty reductions up to January 1, 2013, reducing the tariffs on all of its listed items to zero. In total, the tariff cuts involved a total of 539 items exported from Taiwan to China, while 267 Chinese products imported into Taiwan were also included in the agreement.
China: VAT rates reformed
»
Related Posts
Taiwan: MOF extends business tax payment deadline
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 MoreChina publishes 15th APA programme report
China’s State Taxation Administration (STA) has published its 15th annual report on the advance pricing agreement (APA) programme on 26 December 2024. The report provides comprehensive statistical insights into the implementation of the APA
Read MoreTaiwan consults increasing VAT registration threshold for non-resident digital service providers
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 MoreTaiwan raises business tax thresholds for small enterprises
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 MoreTaiwan extends reduced day trading tax rate until 2027
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 MoreChina enacts first VAT Law
The 13th Session of the 14th National People's Congress Standing Committee has reviewed and approved the draft of the Value-Added Tax (VAT) Law of China. This legislation, which marks the introduction of China's first VAT Law, is set to take
Read More