Recognition of Loss on Inventory Valuation
2009-02-24 17:17:32
According to Article 44 and 46, inventories of merchandise, raw materials, supplies, goods-in-process, finished goods and by-products shall be evaluated on the basis of cost. Where the cost is higher than the market value, the taxpayer may take the m...(more)
Updated Policy of Registrations of Company and Business
2009-02-19 15:30:27
In order to simplify business registration process, Ministry of Economic Affairs will adopt the new procedure in which registration and management will be handled separately from April 13, 2009. When the Commerce Department completes the registration...(more)
Update on Regulation of Change of Alien Tax Payment
2009-02-09 16:33:00
According to Explanatory Decree No. 09704542390 by the MOF issued on Aug. 13, 2008, the alien stays in Taiwan (R.O.C.) less than 183 days must be considered as an “individual not residing in the Republic of China” and the individual income tax mu...(more)
Abolition of Minimum Capital Requirements for Company Startups
2009-02-05 15:54:10
In keeping with the international trend of reducing minimum capital requirements for the establishment of new companies, the Ministry of Economic Affairs (MOEA) is planning to scrap the minimum capital requirements for new company registration, to pr...(more)
Easing of Restrictions on Mainland Chinese Business Visits to Taiwan
2009-01-22 15:30:02
In order to promote the normalization of cross-strait economic and trade activities, the Investment Commission of the MOEA has eased restrictions on persons from the mainland China area coming to Taiwan to engage in business or economic and trade rel...(more)
Issuance of Explanatory Decree No. 09704555160 by the MOF
2009-01-16 15:24:25
Explanatory Decree No. 09704555160 was issued by the MOF on 6 November 2008.
In accordance with Article 43-1 of the Income Tax Act, the standards of the controlled transaction amounts that the transfer pricing reports may be replaced with other pr...(more)
Foreign Engineers to Be Permitted to Practice in Taiwan
2009-01-14 15:18:34
In order to improve the quality of Taiwan’s engineering profession and promote the internationalization of Taiwan’s engineering qualifications, the Executive Yuan has recently approved a draft revision of the Professional Engineers Act, making pr...(more)
Expenses of the Entity and Subsidiary
2009-01-08 10:25:05
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)
Tax Withholding of Year-End Bonus
2009-01-05 16:52:41
According to Standards of Withholding Rates for Various Incomes, whether withheld in accordance with rate table or directly at a rate of 6%, tax withholding shall be calculated based on total payment of each month.
According to Explanatory Decree No...(more)
Remuneration Paid to Foreign Entity must be Withheld at Source
2008-12-30 16:21:03
A 20% withholding tax must be levied on remuneration for technical services paid by entity in Taiwan to entity without fixed place of business in Taiwan in accordance with Article 88 of Income Tax Act and Article 3 of The Standards of Withholding Rat...(more)