Business VAT Act changes: streamline tax reporting; e-invoicing deadlines; fines; VAT deductions; VAT lottery A number of changes have been made to the Taiwanese VAT Act last month. These include: mandatory transmission of GUI e-invoices and related data to the state’s e-invoice platform within a
Reporting requirements for B2B and B2C eGUI electronic invoices; implementation date to be confirmed The Taiwanese Ministry of Finance is imposing updates to the eGUI structured electronic invoices (or Uniform e-invoices) regime, including new penalties. The changes were approved by the President on 7 August
5% import VAT for foreign goods sold online to Taiwan consumers Taiwan has reconfirmed the 5% import Value Added Tax charge on goods bought online and imported to consumers. There is a de minimus limit of TWD 2,000, below which there is now VAT due.
Confirmation of business tax to non-resident digital service providers Taiwan has updated its Value-added and Non-value-added Business Tax law to confirm its Business Tax to certain non-resident providers of digital or electronic services to consumers. This includes “Foreign enterprises, institutions, groups, and organizations that do
Taiwan implemented Value Added Tax obligations on non-resident providers and marketplaces for electronic or digital services from 1 May 2017. There is a NTD 480,000 VAT registration threshold for simplified registration, and no requirement to appoint a local Fiscal Representative. Taiwan imposes Government Uniform Invoices
How to hack national VAT lotteries Taiwan is having to rethink its VAT receipt prize draw after it become clear tax fraudsters were gaming the system. The fortnightly lottery gives prizes of up to TWD 10million based on the invoice numbers of retail receipts that
Taiwan offers delays on Value Added Tax and certain Gross Business Receipts Tax (GBRT). The new schedule for filing and paying any taxes is as follows: April return – now due 31 May instead of 18 May; May return – now due 30 June instead
