[Taxation] Whether Medical Expenses Occurred Overseas Can be Deducted from Gross Income
2009-03-25 14:26:59
For taxpayer, spouse and dependents who have salaries or wages, medical expenses occurred in foreign countries can be deducted from gross income in case certificate shall be provided by public hospitals or private university hospitals in foreign coun...(more)
[Investment] Change formality must be completed in case business scopes change
2009-03-20 14:25:11
In case business scopes of a company change from those on registration certificate, change formality must be completed. If the change formality is not gone through, the company shall be possible to be audited as abnormality due to different net profi...(more)
[Investment] Amendment of Article 6, 12 and 17 of Regulation Governing Visiting, Residence and Permanent Resident of Aliens issued on Feb 27, 2009
2009-03-17 14:24:00
1. Paragraph 5 of Article 6 shall be also applicable to resident in Republic of China who has household registered in Republic of China.
2. For Condition 1 of Article 12, amount of capital is changed from NT$15,000,000 to NT$30,000,0...(more)
[Investment] Extension of Tax Refund Benefits for Foreign Visitors
2009-03-12 11:59:27
The government intends to spur domestic consumption by making it more convenient for foreign visitors to claim business tax refund. Under present regulations, foreign visitors and ROC passport holders without a local ID number can reclaim 5% on depar...(more)
Property Trading Tax for Foreigners Cut to 20%
2009-03-10 10:33:26
To attract more foreigners to invest in Taiwan and accommodate the Executive Yuan’s policy of “Friendly Measures for Foreign Professionals,” the Ministry of Finance (MOF) has moved to simplify withholding rates for foreigners in Taiwan by revis...(more)
Withholding Tax Shall be Deducted from Indemnification
2009-03-06 11:42:42
According to Ministry of Finance, indemnification due to tort of patent or trademark right owned by foreign entity shall be recognized as income of that foreign entity within territory of Taiwan in accordance with Paragraph 11 of Article 8 of Inc...(more)
Explanatory Decree No. 09404527550 by the MOF on 17 May 2005
2009-03-02 15:39:19
Explanatory Decree No. 09404527550 by the MOF on 17 May 2005: Regulations governing taxation of income derived from exercise of employee stock options granted by a foreign associated enterprise to the employees of a Taiwan subsidiary, branch or liais...(more)
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)