Tax and Fee Cuts to Recover Economy Impacted by COVID-19
2020-06-12 17:27:25
The announcement included in Chinese Premier Li Keqiang’s annual Work Report states that China will reduce business expenses by over RMB 2.5 trillion this year, including RMB 500 billion in tax and fee cuts, in an effort to help the economy recover...(more)
Shareholder Meetings Can Be Held Over Online Video Conference but Should Be Included in the Articles of Incorporation
2020-06-08 18:22:20
According to the Company Act Article 356-8, a close company may state in its Articles of Incorporation that its shareholders meeting can be held by means of visual communication network or other methods promulgated by the central competent authority....(more)
China News - June 5
2020-06-05 17:45:09
Shanghai Announces First Round of Tariff Waivers on U.S. Import Items
Statistics released by the Shanghai Customs show that the Shanghai Customs have implemented waivers for the first batch of tariff-imposed US goods. By the application deadline o...(more)
Overseas E-commerce Sales from 2019 Must Declare Corporate Income Tax
2020-06-04 13:32:35
Officials reminded that if an overseas e-commerce company has cross-border sales of electronic services to individual consumers in Taiwan in 2019, even if the e-commerce company has applied for cancellation of tax status, it is still required to file...(more)
China News - June 3
2020-06-03 18:16:20
Jiangsu - Further Reduction in 5G Usage Price
The Industry and Information Technology Department of Jiangsu recently revealed that 35,000 5G base stations have been built in Jiangsu Province, accounting for 12% of the total in the mainland, with ...(more)
US Semiconductor Industry Seeks $37 billion Government Boost
2020-06-02 18:00:56
The Semiconductor Industry Association (SIA) is asking for $37 billion in federal funding to support the US chip sector. In the midst of the trade war between the US and China, on May 15, TSMC has announced to invest $12 billion on a wafer fab in Ari...(more)
CbC Report - Safe Harbor Rules - Taiwan
2020-05-19 16:43:56
On 10 December 2019, the Ministry of Finance (MOF) issued Administrative Decree No. 10804651540 providing exemption from CbC reporting for Taiwan entities under a MNE Group headquartered outside Taiwan. The new safe harbor rules prescribe that the Ta...(more)
Increased Withholding Tax Rates from 2018: Countries that Have Signed a Tax Treaty with Taiwan Enjoy Preferential Withholding Rates
2020-05-18 13:47:34
May and June are the peak season for shareholders meetings. National Taxation Bureau of the Northern Area, Ministry of Finance reminded on the 12th that from 2018, companies distributing dividends to overseas individuals or enterprises are subject to...(more)
Huge Loss for Enterprises! Overdue Tax Returns Are Subject to a 10% Overdue Fine
2020-05-18 13:11:41
In response to the COVID-19 pandemic, the Ministry of Finance has extended the tax return period to June 30th this year to reduce the risk of group infections, a first for the country. However, the National Taxation Bureau reminded on the 12th that i...(more)
The 2019 Income Tax filing date is automatically extended to Jun 30.
2020-05-08 16:26:01
The due date for the year of 2019 Income Tax filing and tax payment has been fully extended. The Ministry of Finance has announced the due date will be extended from May 31 to Jun 30. The extension is effective automatically and is applied to every t...(more)