Tax News Update    Email this document    Print this document  

January 25, 2018
2018-0193

Taiwan enacts tax reform proposals

Taiwan's Legislative Yuan (Parliament) has enacted the tax reform proposals that were announced on September 1, 2017. Key features of the tax reform include: (i) an increase in the corporate income tax rate from 17% to 20%; effective for tax years beginning on or after January 1, 2018; (ii) a decrease in the undistributed earnings tax rate from 10% to 5%; effective for tax years beginning on or after January 1, 2018; and (iii) the undistributed earnings tax paid at the corporate level can no longer be distributed to foreign shareholders as a credit against the dividend withholding tax; effective for distributions made on or after January 1, 2019.

A Global Tax Alert, attached below, provides additional details.

———————————————
ATTACHMENT

Full text of Tax Alert 2018-0193

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement