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Guide to Taiwan Land Value Tax
The taxpayer must declare the value of his/her land with reference to the posted value announced publicly by the Land Value Assessment Commission. The declared land value should be 80% to 120% of the posted value. If the land owner has not declared the value of his/her land during the announcement period, the value would be 80% of the posted value.
Guide to Taiwan Anti-Tax Avoidance Measures
In view of many anti-tax avoidance measures have already been placed in the United States, EU countries and many other countries, Taiwan has set anti-tax avoidance measures such as transfer pricing and anti-thin-capitalization in accordance with international regulations. At the same time, the Income Tax Act regarding the addition of “controlled foreign companies” and “actual management offices” has also been passed
Comparison of Major Taxes in Taiwan and Mainland China
Taiwan Profit-seeking Enterprise Income Tax: Basic tax rate is 20%;The tax rate is 12% after the implementation of Income Basic Tax Act (thereafter [Alternative Minimum Tax]).For a profit-seeking enterprise with independent legal personality, while the current year’s surplus is not distributed in the following year, an additional 5% profit-seeking enterprise income tax is required;Loss carrying forward period is 10 years
Guide to Taiwan Business Tax
In accordance with the relevant tax laws and regulations, all sales of goods and services in Taiwan, as well as the importation of goods into Taiwan, are subject to business tax. Business tax is imposed under two systems: the value-added-tax (VAT) system and the non-value-added tax (Non-VAT) system.
Guide to Taiwan Building Tax
The building tax is levied on the government-assessed value of the building at the applicable tax rate. The government-assessed value is not the market value of the building, but rather the value as assessed by the tax offie based on standards issued by the MOF. The value assessment factors are location, construction type (i.e. steel frame, etc.), and the total number of units in the building.
Guide to Taiwan Commodity Tax
Commodities list in the “Commodity Tax Act”, whether manufactured domestically or imported from abroad shall be subject to commodity tax in accordance with this act except as otherwise provided by any other laws. The commodity tax levies depend on the type of goods, and the applicable tax rate or tax amount is also different (non-progressive tax rate).
Guide to Taiwan Individual Estate and Gift Tax
Estate and gift taxes are levied on the worldwide assets of Taiwan-domiciled individuals. If a Taiwanese national does not have a Taiwan domicile, but has a residence in Taiwan, his/her worldwide assets are subject to the Taiwan estate and gift tax if the individual’s total stay in Taiwan exceeds 365 days in the two years before the date of decease or gift transfer.
Guide to Taiwan Deed Tax
The deed tax is levied on the transfer of title of real estate through sale, acceptance of a dien right, exchange, donation, subdivision, or occupancy, except where the land value increment tax applies. The deed tax is payable at the time of transfer.The deed tax is based on the deed price prescribed by the Real Estate Appraisal Committee of the local government.
Guide to Taiwan Futures Transaction Tax
Trading of futures in the Taiwan Futures Exchange within the territory of Taiwan is subject to the futures transaction tax.The taxpayer of futures transaction tax shall be the sellers and buyers of the futures and the futures commission merchant is responsible for collecting the tax. Futures transaction tax is collected by the futures commission merchant (FCM) on the date of the transaction at the rate specified
Tax Guide to Taiwan Share Transfer
In comparison, while the transfer of the capital contribution of a limited company or uncertified stock by individuals is a transfer of rights, stamp duty is not applicable for such activities, only individual income tax is charged. However, Taiwan individual income tax is based on a comprehensive income tax system which implements progressive tax rates with the maximum tax rate of 40%.