An Overview of Taxation on Service Income & Business Profit in Taiwan
4 minutes Under existing tax regulations, foreign companies without a fixed place of business in Taiwan are liable to face a withholding tax rate of up to 20% on income derived from services rendered in Taiwan. However, foreign companies, including cross-border electronic services businesses, obtaining service income or business profit from Taiwan sources may apply to tax authorities for the approval of the applicable net profit rate and domestic profit contribution ratio. This is used to calculate the taxable income and the corresponding withholding tax.
The Ultimate Guide of Tax Refund in Taiwan For Foreign Workers
4 minutes Businesses and entrepreneurs around the world are considering moving to Taiwan due to its robust economy. The quick economic reforms in the 70s, which were regarded as the “Taiwan Miracle,” quickly made the region a developed economy. Today, Taiwan ranks 15th in the global ease of doing business charts and ranks as the 8th largest Asian economy and 18th largest in the world. Taiwan is in the advanced economic group and the high-income’s group in the World Bank. With the region’s effort to improve the service-oriented industry and attempts to diversify its trade markets, the environment is even better. Taiwan has a well thought out economic policy system, an indirect tax system, and some quite appealing terms, like the tax refund in Taiwan for foreign workers.
