- info@kaizencpa.com
- Our Office: USA - Hong Kong - Shenzhen - Shanghai - Beijing - Taiwan - Singapore - Japan - UK
+852 2341 1444(Hong Kong)
Search for anything.
Knowledge
- Home
- Knowledge
- Taiwan Taxation
Spousal Estate and Gift Tax in Taiwan
Mr. Li has had a knack for financial management since his youth. During several economic recessions, he took the opportunity to enter the stock market and continued to hold his investments long-term after marriage. As he approached retirement, he had accumulated 100 shares of Hon Hai (Foxconn) and 100 shares of Taiwan Semiconductor Manufacturing Company (TSMC). As he entered his senior years, he began to think about estate planning.
Taiwan House and Land Transactions Income Tax
To curb the phenomenon of flipping properties in Taiwan, the new Income Tax Act is revised the taxation regulations toward to selling estates (abbreviated as “House and Land Transactions Income Tax” hereafter), which was implemented on January 1st, 2016. The taxation brackets are as varied as the holding period, the longer you hold, the lower the tax rate is.
Taiwan Company Representatives Tax Regulations
No matter foreigners or Taiwanese to be the responsible person of Taiwan company, the tax regulations will be varied as different as the country of tax residents.Residency and holding the household registration in Taiwan within 1 to 31 days (with Taiwan labour insurance, health insurance, national pension, or spouse and children in Taiwan).
Information for Personal Income Tax Filling in Taiwan 2024
The period for personal tax filing in Taiwan is marked by May 2024. In accordance with the amendments to the Civil Code of Taiwan, as of January 1, 2023, individuals who have reached the age of 18 are legally considered adults. This change affects the eligibility for claiming dependents for tax exemptions.
The Benefits of Taiwanese Employees Voluntarily Contributing to Their Pension Fund
When Taiwan companies declare employees’ annual salary income from the previous year, including various income and exemption certificates, if an employee has participated in voluntary pension contributions during that year, the amount of the contribution should be deducted in full of the total salary income to avoid overpaying taxes.
Taiwan Company Real Estate Execution Tax Return Period
Taiwan companies don’t have to pay taxes if the company have a great deficit within the first few years. Upon making profits, the losses incurred from the past few years are not possible to recover the offset, which is different than other countries. For tax return by the due date, from the position of Taiwan Taxation Bureau, the due date is included the tax return and payment.
Taiwan Employee Unemployment Income
In regards to if the unemployment income received by Taiwan employees should be charged with taxes or not, first of all, we have to understand whether such income is “One-off Payment” or “Instalment”.The unemployment income is counted as separation pay, including retirement pension, severance pay, separation pay, lifetime pension, non-insured old-age pension and so on, which are privileged to benefit the tax exemption
Taiwan Share Transfer Relevant Tax Certificates
According to “Company Act” in Taiwan, the shareholders of company limited by shares remains the rights of share transfer as their own resolutions. It is not required to declare or change the registration of share transfer. Instead, the share transfer in company limited shall be approved by the majority of shareholders. Here are two points to be aware of:
Taxation on Internet Celebrity’s Incomes
It is important to understand clearly of the types of incomes, which might be applicable to the withholding tax rate. For example, if the incomes are counted as royalties, the amount of tax exemption is TWD180,000 every year. For incomes from professional practice, like performers, it is applicable to the norms issued by Ministry of Finance to proceed taxation.
Shares Subscription for Taiwan Employee
Many technology industries and startup companies attract employees by implementing shares subscription. Currently, here are 5 kinds of remuneration measures for Taiwan employees as enacted in Company Act: 1. Remuneration stocks, 2. shares subscription and capital increase by cash, 3. Distributing buybacks, 4. Shares subscription certificate, 5. Restriction of shares subscription.