Consumption/VAT/Sales Tax in Taiwan
- Nature of the Tax
- Standard Rate
- The VAT rate is 5% flat.
- Reduced Tax Rate
The tax rate that applies to banks, insurance companies, trust and investment companies, securities traders, futures traders, bills finance companies, and pawnshops (except reinsurance premium income, for which the rate is 1%) is 2%. Export sales and export-related services are subject to zero tax rate.
More information on Invest in Taiwan (investment guide).
- Exclusion From Taxation
- Under the current regulation, 32 items are exempt from VAT. When selling VAT-exempt goods or services, the seller will not collect VAT from the buyer. In addition, the seller is not eligible to apply for the credit of any VAT paid on purchases relating to such goods or services. More information on Invest in Taiwan (investment guide).
- Method of Calculation, Declaration and Settlement
- All information available on the Ministry of Finance website.
- Other Consumption Taxes
- Special Business tax, etc. More information in the 2009 PKF guide on Taiwan.
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