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Taiwan tax dept issues refund guidance on VAT for foreigners   

TAIPEI: Tax Authorities in Taiwan have released new guidance that confirms the arrangements in place for foreign persons to claim value-added tax (VAT) refunds on expenditure incurred when engaging in exhibitions or temporary business activities in China. Authorities from Nantou county – Taiwan’s second largest province – said that under Article 7-1 of the Value-Added and Non-Value-Added Business Tax Act, ... Read More »

Taiwan’s HTC posts higher than expected Q4 revenue of NT$47.87b in Dec

TAIPEI: Taiwanese smart phone maker HTC Corp reported quarterly sales higher than expected even though its mid-range Desire phones faced brutal competition from Apple Inc.’s new iPhone models over the holiday season. The Taoyuan-based company posted combined revenue of NT$47.87 billion (US$1.49 billion) for the October-December period, beating its estimate of NT$43 billion-NT$47 billion set in late October. Operating profit ... Read More »

Taiwan: New marriage tax policy exempts joint income files for couples   

TAIPEI: Taipei married couples will have the option of calculating their tax liability separately to save money when they file their income tax returns in May, according to an Income Tax Act amendment that was passed in the Legislature Tuesday. Before the amendment, married couples were required to either file their taxes together, or calculate their tax liability on their ... Read More »

Toyota remains bestselling brand in Taiwan car market for 13th consecutive year

TAIPEI: Toyota continued its run as the bestselling car brand in Taiwan for the 13th consecutive year in 2014, partly because of the popularity of its Corolla Altis and RAV4 models, according to market statistics released Monday. The data from Hotai Motor Co., Taiwan’s largest automobile retailer and distributor of Toyota and Lexus cars, showed that 423,829 cars were sold ... Read More »

Taiwan reduces Imputation Tax Credit to 50%

TAIPIE: To boost revenue, the National Taxation Bureau of Taipei (NTBT) began implementing from 2015, the approved measure that halves the benefit of the full dividend imputation system previously allowed in Taiwan. The full dividend imputation system had allowed for tax on corporate profits to be offset against individual tax liability arising from the receipt by individual resident shareholders of ... Read More »

Taiwanese Customs arrests two Malaysians, one Taiwanese for smuggling 122g heroin

TAIPEI: Taoyuan police has recently apprehended two Malaysians and a Taiwanese suspects in connection with a cross-border heroine-smuggling ring, the Criminal Investigation Bureau (CIB) has announced. The arrests were made during separate raids in Taoyuan county. The two Malaysian suspects both surnamed Tan and a Taiwanese surnamed Liang were apprehended during the raids, the CIB said in a released statement. ... Read More »

Taiwan gets less exports order in Nov, rises by 6% YoY

TAIWAN: The expectations for the November export orders of Taiwan have gone wrong as the export orders given this year are less than they were predicted to be a year ago, showed Ministry of Economic Affairs. Exports orders in U.S. dollars increased 6 percent year-on-year, slower than the economists’ forecast for 8.3 percent growth. In October, orders rose 13.4 percent. ... Read More »

Taiwan: Finance minister opposes rising capital gains tax threshold to $31.45m

TAIPEI: Taiwan finance minister Chang Sheng-ford said Wednesday that he sees no need to raise the taxation threshold for a capital gains tax targeting major players in the local stock market. Chang told lawmakers that the current low turnover in the local bourse reflects weak confidence in the market and fears over volatility in global equity markets but has nothing ... Read More »

Taiwan suggested to raise threshold to NT$1.5b to encourage trading

TAIPEI: Finance Minister Chang Sheng-ford said Wednesday that he sees no need to raise the taxation threshold for a capital gains tax targeting major players in the local stock market. Chang told lawmakers that the current low turnover in the local market reflects weak confidence in the market and fears over volatility in global equity markets but has nothing to ... Read More »

Taiwan: Customs arrests British-Chinese suspect for smuggling

TAIPEI: The Customs Department of Taiwan has arrested a British-Chinese suspect for attempting to smuggle the drugs to Taiwan. The suspect identified only as “Dan” was arrested at a post office at Taipei City’s Daan District as he just finished sending two bags of pineapple cakes to the United Kingdom. During questioning, Dan confessed to investigators that he had put ... Read More »

Taiwan: Customs imposes luxury tax on property markets

TAIPEI: The legislators in Taiwan have approved a special tax named as luxury tax on industrial lands.  Lawmakers approved the revisions to curb short-term property speculation as investors increasingly turn their focus to industrial plots The legislature approved revisions to tighten the special sales tax, also known as the luxury tax, which might negatively affect an already-sluggish property market, analysts ... Read More »

Taiwan all set to increase airport tax to US$15.86 in April 2015

TAIPEI: Taiwan airport has finally decided to increase the airport tax that has to be impose on the passengers after  Changi Airport in Singapore and Beijing Capital International Airport in China charge over NT$800 (US$25.37) per passenger, while Narita Airport in Japan and Incheon International Airport in South Korea charge around NT$700 (US$22.20). The airport tax departing passengers must pay ... Read More »

Caught in illegal activates: NZ orders Taiwanese to obey local laws

TAIPEI: New Zealand has become a hot spot for Taiwanese tourists. With an increased number of Taiwanese citizens smuggling drugs into New Zealand, Ministry of Foreign Affairs (MOFA) warned Taiwanese nationals to obey New Zealand’s laws when traveling since the punishment for drug trafficking has proved to be very severe. MOFA said that New Zealand’s law strictly prohibits drug manufacturing, ... Read More »

Ban on food items causes Taiwan $203.2m loss

TAIPEI: Taiwan suffered a big loss of NT$6.38 billion (US$203.2 million) to food exporters this year due to the ban imposed by the international countries on its food items which accounts for 7.5 percent of the whole year’s food exports. Six countries, all in Asia, imposed bans on select food items from Taiwan before gradually removing them as the government ... Read More »

Taiwan airports to collect US$16 in tax revenues till April 2015

TAIPEI: The tax revenue on airport departing passengers at Taiwan’s airports will rise to NT$500 (US$16) from the current NT$300 starting next April, the Civil Aeronautics Administration (CAA) said Saturday. The increase in revenues will be used to improve airport facilities and promote tourism in the country, the CAA said. The NT$300 airport tax has remained the same for the ... Read More »

Taiwan lawmakers suggest tax exemption on stock gains

TAIPEI: Kuomintang lawmaker Lo Ming-tsai submitted a proposal that would eliminate a tax on stock gains targeting major players in the stock market before it even takes effect next year. Lo’s proposal to revise the Income Tax Act delivered on his previous promise to push for the scrapping of the tax completely instead of simply raising the threshold at which ... Read More »

Taiwan-Austria bilateral ties to boost with double taxation avoidance pact

TAIPEI: Trade and investment between Taiwan and Austria is expected to get a boost when their double taxation avoidance agreement signed earlier this year takes effect next year. The agreement signed in July was passed by the Austrian parliament, according Zhang Ming-zhong, Director General of the Department of European Affairs at Taiwan’s foreign ministry. Taiwan has completed all legal procedures ... Read More »

High tariffs, lengthy customs clearance process delay Taiwan exports to China

TAIPEI: High tariffs on some items and lengthy customs clearance processes remain among the greatest challenges faced by Taiwanese exporters to China, said Peter Huang, President & CEO of the Taiwan External Trade Development Council (TAITRA). Speaking at the Cross-Strait CEO Summit in Taipei, he said that growth momentum of Taiwanese products in China has stagnated while profits have been ... Read More »

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