Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/14/2014

Taiwan - Increased business tax for banks, insurance companies 

July 14:  The business tax rate for certain sales revenue derived by banks and insurance companies has increased from 2% to 5%, effective 1 July 2014.

However, a 2% rate may continue to apply for banks and insurance companies that engage in the core business of other financial sectors.


The Ministry of Finance issued regulations to clarify the rules for application of appropriate tax rates, and revised the format of the business tax return forms and payment slips to reflect the new changes.


Read a July 2014 report(PDF 92KB) prepared by the KPMG member firm in Taiwan: Taiwan e-Tax Alert




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