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The allocation of management expenses to the Taiwan branch must be done on a revenue pro-rata basis, computed over the total revenue of the company

Labor meetings should be held regardless of industry or business entity size; as long as a business entity is subject to the LSA, then it should hold labor meetings as per regulations.

In Taiwan, to squeeze out minority shareholders, one needs to take a more complex approach based on the Taiwan Business Merger and Acquisition Act

The Employment Gold Card is aimed at attracting foreign professionals to live and work in Taiwan by creating a more friendly work and residency environment. This is achieved through the relaxation of visa, work, and residency regulations, as well as enhancements to insurance, tax, and retirement benefits.

Statutory benefits are compulsory in Taiwan and include Labor Insurance, National Health Insurance, and Pension. Contribution rates for Labor and Health Insurance vary depending on salary scale tables, while pension rates are set at a fixed percentage.

In Taiwan, Taiwan-IFRSs and R.O.C. GAAP have some differences. Only major and commonly referenced differences are listed below, and more differences can also come up due to changes being released from time to time.

In order to be approved by the tax authority, company expenses in Taiwan need to be backed up by valid supporting documents.

This guide provides a general overview of the tax implications of stock options under varying circumstances, based on relevant legislation and tax rulings in Taiwan.

This document is prepared to help explain the tax and legal obligations of the employer when terminating an employment relationship in Taiwan.

Taiwan-registered companies are required to annually report information regarding responsible persons and key shareholders during the period from March 1 to March 31.

Taiwanese resident corporations are subject to income tax on their worldwide income. Non-resident corporations, by contrast, are subject to income tax only on income derived from sources within Taiwan, generally through a branch, agent, or other taxable presence.

CFC stands for controlled foreign corporation. In order to better protect Taiwan’s tax base and follow international trends, Taiwan will introduce CFC rules effective from 1 January 2023. This is meant to prevent tax loopholes that result from complex international tax planning via CFCs

Taiwan gift tax shall be declared to the competent taxation authority within 30 days from the gift date.

When a car is registered under the company’s name and provided to an employee for business purposes, all related expenses—including fuel, parking, repairs, and maintenance—can be recorded as company expenses.

In order to be more in line with international standards, the Taiwan Government has amended tax regulations relating to use of logistics warehouses.

Grant Thornton Taiwan was founded in 1971. The firm is committed to providing high-quality services to clients. We work closely with our international organisation, constantly developing new service lines to meet the needs of international clients. We are also registered with the U.S. Public Company Accounting Oversight Board (PCAOB) and are ISO 9001 and ISO 27001 certified.