Taiwan

Taiwanese invoice rules

April 6th, 2018

Invoice date of issue and storage Tax payers must provide a special Government Uniform Invoice at the time of supply, or cash advance if sooner. VAT invoices should show the following information: Name, including trading name, and address of supplier and customer VAT number of the supplier and customer Date of invoice Description, including quantities/weights …


Taiwan

Taiwanese VAT rates and compliance

April 6th, 2018

Taiwanese VAT and GBRT rates There are a range of VAT and Gross Business Receipts Tax (GBRT): VAT compliance As a tax payer, VAT registered business must comply with the rules and record keeping requirements of the VAT Act. This includes invoice format and records.  VAT invoices and records must be stored for at least …


Taiwan

Taiwanese VAT returns

April 6th, 2018

VAT registered traders must file regular returns with the Taiwanese Tax Authority. How often are Taiwanese VAT returns required? The VAT return filing frequency is generally every two months. Businesses with regular VAT credits, for example if providing zero-rated supplies, may file monthly. Returns are due by the 15th of the month following the reporting period. …


Taiwan

Taiwanese VAT registration

April 6th, 2018

What is the Taiwanese registration threshold? There is no VAT registration threshold for resident companies providing taxable goods or services in Taiwan. Registration is generally performed at incorporation. Foreign businesses generally cannot apply for VAT or GBRT registrations. They may apply for refunds on VAT incurred on costs if there is a reciprocity agreement between …


Taiwan

Taiwan

April 6th, 2018

Taiwan introduced Business Tax in 1931. This includes a Value Added Tax (VAT) and Gross Business Receipts Tax (GBRT) It is operated by the Taiwan Ministry of Finance. What activities require a Taiwanese registration? Resident companies providing the following taxable goods or services may have to apply for a VAT registration number: Domestic supplies of …


Taiwan

Taiwanese VAT on e-services

November 9th, 2017

Taiwan introduced VAT on electronic services providers to consumers by non-resident providers from May 2017. Domestic providers have been required to levy the indirect tax since May 2014. Electronic services liable to Taiwanese VAT Income from services subject to the consumption tax include: Online games Videos Music E-books Newspapers/journals Apps Membership websites Software and related hosting …


Taiwan

Taiwan B2C foreign e-services

August 11th, 2017

Taiwan has confirmed that the Value Added Tax registration threshold for non-resident suppliers of electronic services to consumers is Taiwanese $480,000 per annum. Since 1 May 2017, foreign providers have been required to charge VAT at 5% on the provision to non-VAT registered buyers of online games, videos, music, e-books, newspapers/journals, apps, membership websites, software …


Taiwan

Taiwan VAT B2C e-services May 2017

March 29th, 2017

Taiwan has confirmed that it will begin to levy 5% VAT on electronic services provided to consumers by foreign providers.  This brings the country into line with similar measures by Japan, New Zealand, South Africa, South Korea and the EU. Key features of the new requirements for charges made by non-resident providers of e-books, streaming …


Taiwan

Taiwan VAT on B2C e-services

December 18th, 2016

Taiwan’s parliament (Yuan) has passed a law levying VAT on electronic services sold to consumers by non-resident providers.  There is limited clarity of the range of service subject to VAT, but it will include downloads, Apps, ebooks and online car-sharing services etc. Providers will have to form a permanent establish in Taiwan to pay any …


Taiwan

Taiwan plans VAT on foreign e-services.

June 27th, 2016

Taiwan has become the latest Asia Pacific country to plan the imposition of VAT on electronic services supplied by foreign providers to local consumers. Currently, when Taiwanese consumers purchase online e-services from offshore providers, such as Google Play, Apple iTunes or Skype, they do not pay 5% VAT to the provider. Instead, they should self-declare and …