Category Taxation in Taiwan

Taiwan to Crack Down on Multinationals

August 11, 2016 Taxation in Taiwan

tax in taiwanTAIPEI – Multinationals operating in Taiwan may soon be forced to register in the country and appoint a tax representative.

The Ministry of Finance of Taiwan has announced that it will soon begin taking steps to close loopholes used by large multinational businesses to dodge taxes on incomes earned in the country.

Currently a significant number of multinational businesses, such as Booking.com, Apple, or Agoda, are not paying any taxes on profits made from sales in Taiwan, as they do not have any office or representation in the country and book all of their revenues through online systems located outside the country.

The Ministry of Finance hopes to implement a new set of rules which will require overseas multinationals to register in Taiwan and to appoint a tax representative in the count...

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Taiwan Offers Tax Rebate to Hi-Tech Finance Firms

April 22, 2016 Taxation in Taiwan

Tax Revenue in TaiwanTAIPEI – Financial firms in Taiwan could see their tax bill slashed by 30 percent, if they carry out research and development of new and innovative financial systems and technologies.

On April 21st the Financial Supervisory Commission of Taiwan announced that it is looking to implement tax breaks for financial service providers engaging in research and development activities over the course of 2016.

Once enacted, the tax refund will allow financial technology company to slash their tax bill by 15 percent of their spending on research and development of new technologies, systems, and software.

The tax rebate will be capped at a maximum of 30 percent of the total tax obligations owed by the company for the year.

The FSC intends to implement the tax breaks by the end of May, and will allow ...

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Tax Revenues Peak in Taiwan

August 12, 2014 Taxation in Taiwan

TAIPEI – Tax revenues in Taiwan have reached record high levels over the first seven month of this year.

Tax revenues in Taiwan continue to rise, as tax collections over the month of July rose by 6.3 percent compared to collections seen over the same month during the previous year, according to new information released on August 11th by the Ministry of Finance of Taiwan.

The total tax collections for the first seven month of the current year reached TWD 1.192 trillion, an improvement of TWD 39.66 billion, or 5.6 percent compared to the same time period in 2013.

The increase in tax revenues was attributed to a rise in the collection of business income tax, which rose by 13.5 percent to reach a total of TWD 246.4 billion, and an increase in the collection of the income tax, which rose by 4...

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Tax Revenues Rocket In Taiwan

July 11, 2014 Taxation in Taiwan

tax in taiwanTAIPEI – Tax collections are on the rise in Taiwan, growing by almost 17 percent over the first six months of this year.

In a statement issued on July 10th the Ministry of Finance of Taiwan announced that tax revenues in June this year were 16.9 percent higher than in the same month in 2013, while over the course of the first six month of 2014 tax revenues rose by 5.5 percent compared to the same period during the previous year.

In June tax revenues in Taiwan reached a total of TWD 379.4 billion, an increase of TWD 54.9 billion over the level reached in June 2013.

Over the first six months of the year a total of TWD 1.09 trillion was collected by tax authorities, approximately TWD 56.5 billion compared to the same time period in the previous year.

The increase in the collection of tax re...

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Taiwan Sees Record High Tax Revenues

May 13, 2014 Taxation in Taiwan

Tax Revenue in TaiwanTAIPEI – Taiwan is seeing record high tax revenues despite the fact that tax refunds to businesses are exceeding collection of corporate income tax.

Tax revenues in Taiwan over the first four month of this year have risen significantly compared to the same period last year, having reached a total of TWD 431 billion, approximately 4.4 percent higher than in 2013, according to a new statement issued on May 12th by the Ministry of Finance.

The growth in tax revenues has been attributed to notable increases in the collection of personal income tax, which grew by 5.2 percent, reaching a total of TWD 91.8 billion.

It was also noted that collection of the recently introduced securities transaction also rose significantly, improving by 37.2 percent to reach a level of TWD 28.7 billion.

Despite t...

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