The Executive Yuan to Put Forth Special Typhoon Budget
2009-08-14 08:58:39
The Executive Yuan decided to appropriate a special budget of NT$100 billion at minimum and NT$200 billion at maximum to fund the rescue and reconstruction operations related to typhoon Morakot.
The special budget will be based on the special recon...(more)
[Investment] Only Salary of Full-Time R&D Personnel Could be Used for Tax Offsets
2009-08-12 14:53:52
According to Regulations Governing the Application of Tax Offsets for Corporate R&D and Personnel Training Expenditures, only salary of full-time R&D personnel could be used for investment tax credit. Salary of part-timer, administration pers...(more)
[Investment] Offshore Investment Losses Reserve Can be Recognized in the Same Year as the Investment Occurred
2009-08-11 11:15:16
In case an entity is approved to conduct investment activities in foreign countries in compliance with Industrial Promoting Act and The Guidelines for Examination of Profit-seeking Enterprise Income Tax, an amount of no more than 20% of total offshor...(more)
[Investment] Legal Reserve Can be Distributed in Cash
2009-08-10 14:56:55
Draft amendment of Company Law was passed on July 2 by Executive Yuan. In future, legal reserve and capital reserve of a company shall be distributed in cash. While the portion of legal reserve which exceeds 25% of paid-up capital can be distributed ...(more)
[Finance]
2009-08-07 14:06:14
Ministry of Finance intends to provide tax preference for foreign entities without permanent establishments or branches that operating profit in income within territory of ROC can be deducted as cost expense so that the tax shall be greatly lowered.
...(more)
[Finance] Recognition of Shared Expenses
2009-08-03 11:17:28
In case an entity and its subsidiary are located at the same office and share all the expenses, the entity which holds the related invoices/receipts shall provide detailed shared expenses report including related party, description and base of sharin...(more)
[Finance] Companies Using Calendar Year Will Benefit from Tax Rate Fall First
2009-07-30 15:26:49
Promoting in Industry Upgrade Act will be abolished by the end of this year and corporate tax rate will fall to 20%. Companies using calendar year (CY) can benefit from new tax rate from beginning of January in 2010. While the companies using fiscal ...(more)
[Investment] Loosened Restrictions Concerning Taiwan Visit by Chinese Businessmen and Professionals
2009-07-23 13:56:17
The Ministry of the Interior plans to make it easier for Mainland Chinese business people and professionals to visit Taiwan.
In the past, people from Mainland China visiting Taiwan for business, observation, conference, presentation, and trade-fair ...(more)
[Investment] For Tax Benefit, Branch Company Is be Better Than Subsidiary for China Investment in Taiwan
2009-07-21 11:47:51
If China entity sets up a branch company in Taiwan, all income shall be recognized as revenue of headquarter in China for business income tax filing. Withholding tax will not be deducted from the remittance of surplus to headquarter from Taiwan branc...(more)
[Investment] Promoting in Industry Upgrade Act Will be Abolished
2009-07-16 14:17:39
After practice of 19 years, Promoting in Industry Upgrade Act is expected to be abolished by the end of this year. In future, tax preference for the industries will be practiced as in Industry Innovation Act which will be of less tax preference than ...(more)