Penalty for failure to withhold tax
2011-12-26 11:14:25
Taipei National Tax Administration under the Ministry of Finance announced that withholding agents should submit a list of employee income for the whole year to the tax office by the end of January of the following year, and the employees that receiv...(more)
Taiwan-Switzerland Tax Agreement
2011-12-20 17:42:31
Taiwan-Switzerland tax agreement entered into force on December 13th, 2011. Switzerland agreed to exchange information on tax matters in the agreement. Therefore, Taiwan can ask Switzerland to provide income information received by Taiwanese from...(more)
Income Tax Law Amendments: Due date for filing withholding tax statement postponed
2011-12-16 18:33:54
The Legislative Yuan passed amendments to part of the articles in Income Tax Law: The due dates for withholding agents to file Withholding and Non-Withholding Income Tax Statements for various types of income and to mail the statements ar...(more)
2011 Withholding Tax Statement should be filed before January 31st, 2012
2011-12-14 11:27:43
The due date for filing 2011 Withholding and Non-Withholding Income Tax Statements for income and dividend is still January 31st, 2012. Even though the filing period is around New Year and Chinese New Year holidays, the Ministry of Finance deci...(more)
2011-11-25 17:51:52
The other income received, such as monetary settlement or damage, is not subjected to Value-Added Tax, because the business income is not from products sold or services provided. Therefore, there is no need to issue a Government Uniform Invoice....(more)
IFRS 9
2011-11-15 11:40:55
Securities and Future Bureau under Financial Supervisory Commission, R.O.C. announced that they will amend the Financial Accounting Standards as soon as possible; the use of IFRS 9 will not become mandatory for accounting period commencing on January...(more)
Withholding Tax on Dividends
2011-11-11 18:18:23
National Tax Administration commences withholding tax auditing, focusing on the withholding tax on dividends distributed to alien individual and foreign corporations.
According to the tax laws, when paying Dividend Net of Withholding Tax on divi...(more)
2011-11-07 17:08:34
On November 2, 2011:
Ministry of Economic Affairs (MOEA) suggests:
The withholding tax on the royalties earned by foreign business entities which have filed a patent application at the Intellectual Property Office under MOEA could be included in...(more)
Businesses with a deficit are not permitted to make a political contribution
2011-11-04 16:22:41
According to the Political Donation Act in Taiwan, the limits on the contributions made to political parties, political organizations or political candidates by businesses are as follow:
The total amount of contributions made to the same political...(more)
the Establishment and Management of Free Trade Zones Act
2011-04-22 14:44:30
According to Act for the Establishment and Management of Free Trade Zones & International Airport Park Development Act which were enacted in 2009, a foreign company or a branch company in R.O.C. which stores products and executes a simple process in ...(more)