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Experience shows that, in most cases, it is not cost-efficient for a company to maintain books outside of Taiwan. Please consider the following regulations prior to deciding where to maintain your accounting record.

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 Taiwan, if an enterprise has a fixed place of business or a business agent in Taiwan, then it is seen as having a permanent establishment and must register a legal entity.

Directors and supervisors in a company are automatically deemed to hold “employer” status. Any person whose name appears on the company statutory record as the responsible person is also deemed to hold “employer” status.

When a company’s employees, directors, or supervisors use their own personal vehicle for business transportation, reimbursement and taxes on those reimbursements should be taken into account.

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

In order to provide more consistent and authoritative guidance, the Ministry of Finance (MOF) issued an interpretation note on 11 April 2007 clarifying the issue of taxation relating to software purchases and, at the same time, also released a new set of tax assessment rules relating to advance ruling applications

Directors and supervisors in a company are automatically deemed to hold “employer” status. Any person whose name appears on the company statutory record as the responsible person is also deemed to hold “employer” status.

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.

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.

Taiwan Entity Comparison Table

In general, PRC nationals can receive entry permits to come to Taiwan for business-related activities. Taiwan business entities can choose one of the following four methods to apply for entry permits for PRC nationals. Grant Thornton Taiwan specialists can guide you to complete all the steps related to the application in an efficient manner.

Taiwan’s Ministry of Finance released a number of important tax rulings relating to the source of income. This article summarizes the content of the rulings.

Taiwan Work Visa Comparison Table

Tax compliance audits are compulsory for companies reporting gross revenue in excess of TWD 100 million (approximately USD 3 million) per annum. There are also special incentives to engage a CPA firm to conduct a tax compliance audit.

In order to close tax collection gaps, the Taiwanese Ministry of Finance has revised VAT and Income Tax regulations for foreign ecommerce companies with no permanent establishment in Taiwan.