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Signatories of the multilateral competent authority agreement on automatic exchange of financial account information and intended first information exchange date (Status as of 15 January 2018). JURISDICTION FROM WHICH THE COMPETENT AUTHORITY IS FROM INTENDED FIRST INFORMATION EXCHANGE BY: (ANNEX F TO THE AGREEMENT) 1. ALBANIA September 2018 2. ANDORRA September 2018 3. ANGUILLA September […]
For an individual, only domestic source income is subject to personal income tax, all foreign source income is exempted , whereas, an enterprise is subject to tax on its worldwide income. All income tax paid by any of the branches or agents of an enterprise abroad will be allowed as a credit against its total […]
Based on the principle of "the Rule of Law" and "Doctrine of Taxation by Law", the collection of taxes in Taiwan should be regulated by laws. The tax collection procedures are based on Tax Collection Act for the unification of procedures, and should comply with the Taxpayer Rights Protection Act (which will be implemented on […]
The Common Reporting Standard (CRS), developed in response to the G20 request and approved by the OECD Council on 15 July 2014, calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, […]
A. Features of Taiwan's Capital Market (1) Geographic Advantage: Taiwan is located at the center of an archipelago in the western Pacific Ocean, which is close to Northeast Asia, mainland China, and Southeast Asia, with convenient access to transportation. After mainland China and Taiwan have entered into the ECFA, economic and trade exchanges have become […]
Business Type Items Company Business Enterprise Minimum capital requirement No minimum requirement, but the capital still needs to be examined and certified by a local CPA and covers at least the incorporation cost (Note 1) Not required. Extent of shareholders/responsible person/partners' liability Shareholders are liable to the extent of their capital contribution to the company. […]
Business Type Items Company ( Company Limited by Shares/Limited Company ) Branch Office of a Foreign Company Representative Office Permitted activities General trading, sales and manufacturing General trading, domestic sales and manufacturing Legal acts and liaison activities Profit-Seeking Enterprise Income Tax(T) I: Taxable income；T:Tax liability ．If I ≦ NTD120,000, T=0 ．If NTD120,000＜ I ≦ NTD181,818, […]
Creating a system for foreign suppliers providing cross-border electronic services charged VAT To solve the current tax levy problem on business tax arising from cross-border tax-free threshold and reverse charge mechanism, the MOF referred to the OECD suggestion as well as relevant measures taken by the EU, Korea, Japan, etc. to amend our current Value-Added […]
The following tables show the list of International Financial Reporting Standards (IFRSs) and corresponding Traditional Chinese International Financial Reporting Standards (TIFRSs). IFRSs and Traditional Chinese International Financial Reporting Standards (2017) IFRSs and Traditional Chinese International Financial Reporting Standards (2016) IFRSs and Traditional Chinese International Financial Reporting Standards (2015) IFRSs and Traditional Chinese International Financial […]
A. The Listing Types: Foreign issuers that have not listed their shares on any other foreign stock exchanges applying for listing shares on Taiwan Stock Exchange. B. Restrictions on Qualification: According to relevant provisions in the Act Governing Relations between the People of the Taiwan Area and the Mainland Area, a foreign issuer intending to […]
Q1 What is the applicable securities transaction tax rate on the sale of shares of a foreign issuer listed on the TWSE or GreTai Securities Market ("GTSM")? Ans. According to the Letter dated September 23, 2008 from the Taxation Agency, Ministry of Finance to the Securities and Futures Bureau ("SFB"), generally, all transactions involving shares […]
1. ESTABLISH AND DEFINE THE RELATIONSHIP WITH THE CLIENT 1.1 Inform the client about financial planning and the financial planning professional's competencies. The financial planning professional informs the client about the financial planning process, the services the financial planning professional offers, and the financial planning professional's competencies and experience. 1.2 Determine whether the financial planning […]
Return on equity (ROE) is a closely-watched number among knowledgeable investors. It is a strong measure of how well a company's management creates value for its shareholders. The number can be misleading, however, as it is vulnerable to measures that increase its value while also making the stock more risky. Without a way of breaking down […]
The common differences between Taiwan-IFRSs and R.O.C. GAAP are summarized below: Consolidated Balance Sheet a) Classifications of deferred income tax asset/liability and valuation allowance Under R.O.C. GAAP, a deferred tax asset and liability is classified as current or non-current in accordance with the classification of its related asset or liability. Deferred income tax assets […]
Taiwan Accelerator (TA) is the first seed accelerator in the country, providing startups in each cohort with capital, mentoring, training, professional services, and opportunities to market themselves to global investors and business partners. Seed Capital Founded in October 2016, Taiwan Accelerator (TA) is the first seed accelerator in the country, hosting two batches a year. Every selected startup receives […]
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